Cintas Co. (NASDAQ:CTAS) Position Boosted by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG grew its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 510,832 shares of the business services provider’s stock after buying an additional 383,124 shares during the quarter. Cintas accounts for 2.5% of Bank Pictet & Cie Europe AG’s portfolio, making the stock its 8th largest position. Bank Pictet & Cie Europe AG owned about 0.50% of Cintas worth $105,170,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. LGT Financial Advisors LLC raised its position in Cintas by 311.1% in the second quarter. LGT Financial Advisors LLC now owns 37 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 28 shares during the period. Atwood & Palmer Inc. purchased a new stake in shares of Cintas during the second quarter valued at approximately $27,000. Pathway Financial Advisers LLC purchased a new stake in shares of Cintas during the first quarter valued at approximately $29,000. Grove Bank & Trust lifted its position in shares of Cintas by 1,340.0% during the third quarter. Grove Bank & Trust now owns 144 shares of the business services provider’s stock worth $30,000 after purchasing an additional 134 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of Cintas by 226.7% in the second quarter. Meeder Asset Management Inc. now owns 49 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 63.46% of the company’s stock.

Cintas Stock Performance

Shares of CTAS stock opened at $211.54 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 1.53 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average of $215.48 and a two-hundred day moving average of $189.75. The company has a market cap of $21.46 billion, a P/E ratio of 14.61, a PEG ratio of 4.12 and a beta of 1.32. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $215.37.

Cintas (NASDAQ:CTAS) last released its quarterly earnings data on Wednesday, September 25th. The business services provider reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.10. The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.70 EPS. As a group, analysts anticipate that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its board has initiated a share repurchase plan on Tuesday, July 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the business services provider to purchase up to 1.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

CTAS has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on shares of Cintas from $166.75 to $199.50 and gave the stock a “hold” rating in a report on Friday, July 19th. Wells Fargo & Company lifted their price objective on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a report on Thursday, September 26th. Jefferies Financial Group reduced their target price on Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research note on Thursday, September 26th. Barclays lifted their price target on shares of Cintas from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, September 27th. Finally, The Goldman Sachs Group increased their price objective on shares of Cintas from $212.00 to $236.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $199.63.

About Cintas

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.