Pictet Asset Management Holding SA Purchases 92,591 Shares of Cintas Co. (NASDAQ:CTAS)

Pictet Asset Management Holding SA increased its position in shares of Cintas Co. (NASDAQ:CTAS) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,536,834 shares of the business services provider’s stock after acquiring an additional 92,591 shares during the period. Pictet Asset Management Holding SA’s holdings in Cintas were worth $280,780,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CTAS. State Street Corp increased its stake in shares of Cintas by 299.3% in 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. Geode Capital Management LLC grew its holdings in shares of Cintas by 309.7% during the 3rd quarter. Geode Capital Management LLC now owns 8,248,271 shares of the business services provider’s stock valued at $1,693,654,000 after purchasing an additional 6,235,052 shares during the last quarter. Norges Bank acquired a new position in Cintas during the 4th quarter worth approximately $877,216,000. Franklin Resources Inc. lifted its stake in Cintas by 264.7% in the 3rd quarter. Franklin Resources Inc. now owns 3,279,029 shares of the business services provider’s stock valued at $693,503,000 after purchasing an additional 2,379,932 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Cintas by 308.2% in 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 valued at $519,419,000 after buying an additional 1,904,926 shares in the last quarter. 63.46% of the stock is owned by institutional investors.

Cintas Stock Performance

Shares of CTAS opened at $206.25 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.58 and a debt-to-equity ratio of 0.47. The stock has a market cap of $83.23 billion, a P/E ratio of 49.73, a P/E/G ratio of 3.98 and a beta of 1.41. The business’s 50 day moving average price is $200.91 and its 200-day moving average price is $208.87. Cintas Co. has a 52 week low of $162.16 and a 52 week high of $228.12.

Cintas (NASDAQ:CTAS) last issued its quarterly earnings results on Wednesday, March 26th. The business services provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.08. The firm had revenue of $2.61 billion during the quarter, compared to the consensus estimate of $2.60 billion. Cintas had a return on equity of 40.62% and a net margin of 17.23%. The company’s revenue was up 8.4% on a year-over-year basis. During the same period last year, the company earned $3.84 earnings per share. Equities research analysts anticipate that Cintas Co. will post 4.31 earnings per share for the current fiscal year.

Cintas Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 14th were issued a $0.39 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.76%. Cintas’s payout ratio is currently 36.11%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and issued a $215.00 target price on shares of Cintas in a research report on Thursday. Morgan Stanley boosted their target price on shares of Cintas from $195.00 to $213.00 and gave the company an “equal weight” rating in a report on Thursday. UBS Group raised their price objective on shares of Cintas from $218.00 to $240.00 and gave the stock a “buy” rating in a research report on Thursday. Robert W. Baird boosted their target price on Cintas from $200.00 to $227.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, The Goldman Sachs Group upped their price objective on shares of Cintas from $211.00 to $233.00 and gave the stock a “buy” rating in a report on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cintas has a consensus rating of “Hold” and an average target price of $207.57.

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.