Cintas Corporation $CTAS Stock: Pictet Asset Management Holding SA Trims Stake

Pictet Asset Management Holding SA cut its holdings in Cintas Corporation (NASDAQ:CTAS) by 10.0% during the third quarter, HoldingsChannel.com reports. The institutional investor 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’s holdings in Cintas were worth $306,655,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Cintas in the second quarter worth about $4,520,425,000. Bank of New York Mellon Corp bought a new stake in Cintas during the second quarter worth approximately $644,334,000. Amundi increased its stake in Cintas by 6.3% during the first quarter. Amundi now owns 2,402,362 shares of the business services provider’s stock worth $406,336,000 after acquiring an additional 142,576 shares during the last quarter. Legal & General Group Plc bought a new stake in Cintas during the second quarter worth approximately $386,159,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Cintas by 34.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,040,757 shares of the business services provider’s stock valued at $345,174,000 after purchasing an additional 526,299 shares during the period. 63.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CTAS shares. Weiss Ratings lowered Cintas from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, October 23rd. UBS Group reiterated a “buy” rating and issued a $235.00 target price (up from $230.00) on shares of Cintas in a report on Thursday, September 24th. Rothschild & Co Redburn boosted their target price on Cintas from $184.00 to $198.00 and gave the company a “neutral” rating in a research report on Tuesday, July 28th. Argus increased their price target on Cintas from $230.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, September 29th. Finally, Bank of America reiterated a “buy” rating and set a $232.00 price objective on shares of Cintas in a research report on Thursday, October 29th. Ten equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Cintas currently has a consensus rating of “Moderate Buy” and an average price target of $218.62.

Cintas Price Performance

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

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

Cintas Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, November 13th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, November 13th. Cintas’s dividend payout ratio is 41.03%.

About Cintas

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.