Banque Pictet & Cie SA Sells 2,820 Shares of Cintas Co. (NASDAQ:CTAS)

Banque Pictet & Cie SA lessened its position in Cintas Co. (NASDAQ:CTAS - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 158,092 shares of the business services provider's stock after selling 2,820 shares during the quarter. Banque Pictet & Cie SA's holdings in Cintas were worth $28,883,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of Cintas by 299.3% during the 3rd quarter. State Street Corp now owns 14,555,558 shares of the business services provider's stock valued at $2,996,697,000 after purchasing an additional 10,910,285 shares during the last quarter. FMR LLC boosted its stake in Cintas by 297.3% in the third quarter. FMR LLC now owns 8,781,132 shares of the business services provider's stock worth $1,807,860,000 after buying an additional 6,571,128 shares in the last quarter. Geode Capital Management LLC boosted its stake in Cintas by 309.7% in the third quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider's stock worth $1,693,654,000 after buying an additional 6,235,052 shares in the last quarter. Franklin Resources Inc. grew its position in Cintas by 264.7% during the third quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider's stock valued at $693,503,000 after acquiring an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Cintas by 308.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,522,921 shares of the business services provider's stock worth $519,419,000 after acquiring an additional 1,904,926 shares in the last quarter. Hedge funds and other institutional investors own 63.46% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CTAS shares. The Goldman Sachs Group cut their price objective on shares of Cintas from $236.00 to $211.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Morgan Stanley upped their price target on shares of Cintas from $185.00 to $202.00 and gave the company an "equal weight" rating in a research report on Thursday, December 12th. Robert W. Baird decreased their price objective on Cintas from $209.00 to $200.00 and set a "neutral" rating on the stock in a report on Friday, December 20th. Truist Financial lowered their target price on Cintas from $225.00 to $215.00 and set a "buy" rating for the company in a research note on Friday, December 20th. Finally, Wells Fargo & Company reduced their price target on Cintas from $191.00 to $184.00 and set an "underweight" rating on the stock in a research report on Friday, December 20th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Cintas has a consensus rating of "Hold" and an average target price of $198.46.

Cintas Trading Down 0.2 %

NASDAQ:CTAS traded down $0.48 during trading hours on Tuesday, hitting $203.74. The company had a trading volume of 1,387,684 shares, compared to its average volume of 1,698,570. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.58 and a quick ratio of 1.38. The stock has a 50-day moving average price of $196.96 and a 200 day moving average price of $207.85. The company has a market capitalization of $82.22 billion, a PE ratio of 49.12, a price-to-earnings-growth ratio of 3.95 and a beta of 1.38. Cintas Co. has a 52 week low of $152.77 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS - Get Free Report) last announced its earnings results on Thursday, December 19th. The business services provider reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.08. Cintas had a net margin of 17.23% and a return on equity of 40.62%. The firm had revenue of $2.56 billion for the quarter, compared to analyst estimates of $2.56 billion. During the same quarter in the previous year, the firm posted $3.61 EPS. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that Cintas Co. will post 4.31 EPS for the current fiscal year.

Cintas Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Friday, February 14th. Cintas's payout ratio is presently 37.59%.

Cintas Company Profile

Cintas Corporation engages in the provision of corporate identity uniforms and related business services primarily in the United States, Canada, and Latin America. It operates through Uniform Rental and Facility Services, First Aid and Safety Services, and All Other segments. The company rents and services uniforms and other garments, including flame resistant clothing, mats, mops and shop towels, and other ancillary items; and provides restroom cleaning services and supplies, as well as sells uniforms.