Cintas Corporation $CTAS Stock: Pictet Asset Management Holding SA Lowers Position

Key Points

• Pictet Asset Management cut its Cintas stake by 10% in the third quarter, selling 174,791 shares; it retained 1.57 million shares valued at about $306.7 million.
• Analysts have a consensus “Moderate Buy” rating and an average price target of $218.62, with 10 Buy, six Hold, and one Sell rating.
• Cintas beat quarterly estimates, reporting $1.39 EPS and $3.01 billion in revenue, up 10.9% year over year; it also announced a quarterly dividend of $0.52 per share.

Pictet Asset Management Holding SA decreased its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 10.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,571,757 shares of the business services provider's stock after selling 174,791 shares during the period. Pictet Asset Management Holding SA owned 0.40% of Cintas worth $306,655,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Whipplewood Advisors LLC lifted its holdings in Cintas by 1,712.5% in the 1st quarter. Whipplewood Advisors LLC now owns 145 shares of the business services provider's stock worth $25,000 after purchasing an additional 137 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in Cintas during the 2nd quarter valued at approximately $27,000. Archer Investment Corp purchased a new stake in Cintas during the 1st quarter valued at approximately $32,000. Highland Investment Advisors LLC bought a new stake in shares of Cintas during the second quarter valued at approximately $32,000. Finally, Sachetta LLC raised its position in shares of Cintas by 46.0% during the first quarter. Sachetta LLC now owns 200 shares of the business services provider's stock valued at $34,000 after buying an additional 63 shares during the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on CTAS. Robert W. Baird set a $222.00 target price on shares of Cintas and gave the stock an "outperform" rating in a report on Thursday, September 24th. Argus raised their target price on shares of Cintas from $230.00 to $240.00 and gave the company a "buy" rating in a research note on Tuesday, September 29th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $206.00 price target on shares of Cintas in a report on Thursday, September 24th. Jefferies Financial Group boosted their price target on shares of Cintas from $200.00 to $210.00 and gave the stock a "hold" rating in a research note on Thursday, July 16th. Finally, Weiss Ratings downgraded shares of Cintas from a "buy (b)" rating to a "buy (b-)" rating in a report on Friday, October 23rd. Ten investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $218.62.

Cintas Stock Performance

NASDAQ CTAS opened at $222.36 on Friday. The stock has a market capitalization of $88.29 billion, a PE ratio of 43.86, a P/E/G ratio of 3.53 and a beta of 0.86. The business has a 50 day simple moving average of $206.46 and a two-hundred day simple moving average of $191.28. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.45 and a quick ratio of 1.29. Cintas Corporation has a 1-year low of $161.16 and a 1-year high of $233.46.

Cintas (NASDAQ:CTAS - Get Free Report) last released its quarterly earnings data on Wednesday, September 23rd. The business services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.04. The business had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. Cintas had a return on equity of 42.57% and a net margin of 17.82%. The company's revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 EPS. Cintas has set its FY 2027 guidance at 5.450-5.540 EPS. On average, research analysts predict that Cintas Corporation will post 5.53 EPS for the current fiscal year.

Cintas Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, November 13th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. Cintas's dividend payout ratio (DPR) is 41.03%.

Cintas Profile

Cintas Corporation provides workplace products and services to businesses, primarily in North America. Its offerings include uniform rental and sales, workwear, and related services such as laundering and maintaining uniforms.

The company also supplies facility services, including restroom and floor products, and provides first aid and safety products and services. Its fire protection business offers services such as inspecting and maintaining fire extinguishers and other safety equipment.

Cintas traces its roots to Acme Industrial Laundry, a family business established in 1929.

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