Pictet Asset Management Holding SA Grows Stock Holdings in Cintas Corporation $CTAS

Key Points

• Pictet Asset Management Holding SA increased its stake in Cintas by 10.0% during Q4 to 2,002,205 shares, representing about 0.50% of the company and valued at $376,647,000.
• Cintas reported quarterly EPS of $1.24 (in line with estimates) and revenue of $2.84 billion, up 8.9% year-over-year; the stock trades with a market capitalization of $70.38 billion and a P/E of 49.69.
• The company declared a quarterly dividend of $0.45 (annualized $1.80, a 1.0% yield, ex-dividend May 15), while analysts hold an average rating of "Hold" with a mean price target of $215.17.

Pictet Asset Management Holding SA lifted its holdings in Cintas Corporation (NASDAQ:CTAS - Free Report) by 10.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,002,205 shares of the business services provider's stock after acquiring an additional 181,952 shares during the quarter. Pictet Asset Management Holding SA owned 0.50% of Cintas worth $376,647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTAS. Key Capital Management INC purchased a new position in shares of Cintas during the 4th quarter valued at about $28,000. Triumph Capital Management purchased a new stake in shares of Cintas in the third quarter worth about $29,000. Alpine Bank Wealth Management grew its holdings in Cintas by 1,092.9% during the third quarter. Alpine Bank Wealth Management now owns 167 shares of the business services provider's stock worth $34,000 after acquiring an additional 153 shares during the period. Aventura Private Wealth LLC acquired a new stake in Cintas during the fourth quarter worth about $34,000. Finally, WPG Advisers LLC raised its position in Cintas by 90.0% during the third quarter. WPG Advisers LLC now owns 171 shares of the business services provider's stock valued at $35,000 after acquiring an additional 81 shares in the last quarter. 63.46% of the stock is currently owned by institutional investors and hedge funds.

Cintas Stock Performance

Shares of NASDAQ:CTAS opened at $175.90 on Monday. The business's 50 day moving average price is $185.31 and its 200-day moving average price is $187.62. Cintas Corporation has a 1 year low of $165.60 and a 1 year high of $229.24. The firm has a market capitalization of $70.38 billion, a price-to-earnings ratio of 49.69, a price-to-earnings-growth ratio of 3.10 and a beta of 1.01. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.98 and a quick ratio of 1.74.

Cintas (NASDAQ:CTAS - Get Free Report) last posted its quarterly earnings data on Wednesday, March 25th. The business services provider reported $1.24 earnings per share for the quarter, hitting analysts' consensus estimates of $1.24. Cintas had a net margin of 17.57% and a return on equity of 41.47%. The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $2.82 billion. During the same period in the prior year, the business posted $1.13 earnings per share. The firm's revenue for the quarter was up 8.9% on a year-over-year basis. On average, equities research analysts forecast that Cintas Corporation will post 4.89 earnings per share for the current fiscal year.

Cintas Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.0%. The ex-dividend date is Friday, May 15th. Cintas's payout ratio is presently 50.85%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on CTAS shares. Bank of America started coverage on Cintas in a research report on Tuesday, February 17th. They issued a "neutral" rating and a $215.00 price objective on the stock. Wells Fargo & Company raised shares of Cintas from a "cautious" rating to an "overweight" rating and increased their price target for the stock from $205.00 to $245.00 in a report on Wednesday, January 14th. Stifel Nicolaus dropped their price target on shares of Cintas from $222.00 to $190.00 and set a "hold" rating on the stock in a research report on Thursday, March 26th. Argus raised shares of Cintas to a "strong-buy" rating in a report on Wednesday, January 21st. Finally, Citigroup decreased their price objective on shares of Cintas from $181.00 to $160.00 and set a "sell" rating for the company in a research report on Tuesday, March 31st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $215.17.

Insider Buying and Selling

In other Cintas news, Director Ronald W. Tysoe sold 4,666 shares of the stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $178.87, for a total transaction of $834,607.42. Following the completion of the transaction, the director owned 22,448 shares of the company's stock, valued at $4,015,273.76. This represents a 17.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 14.90% of the company's stock.

Cintas Profile

Cintas Corporation NASDAQ: CTAS is a provider of business services and products focused on workplace appearance, safety and facility maintenance. The company is best known for its uniform rental and corporate apparel programs, which include rental, leasing and direct-purchase options, laundering and garment repair. Cintas markets its services to a wide range of end-users, including manufacturing, food service, healthcare, hospitality, retail and government customers.

Beyond uniforms, Cintas offers a suite of facility services and products designed to help organizations maintain clean, safe and compliant workplaces.

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