Bank Pictet & Cie Europe AG Has $105.17 Million Position in Cintas Co. (NASDAQ:CTAS)

Bank Pictet & Cie Europe AG raised its holdings in shares of Cintas Co. (NASDAQ:CTAS) by 300.0% during the 3rd quarter, Holdings Channel reports. The fund owned 510,832 shares of the business services provider’s stock after purchasing an additional 383,124 shares during the period. Cintas makes up approximately 2.5% of Bank Pictet & Cie Europe AG’s portfolio, making the stock its 8th largest holding. Bank Pictet & Cie Europe AG’s holdings in Cintas were worth $105,170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Alecta Tjanstepension Omsesidigt raised its stake in shares of Cintas by 300.0% during the third quarter. Alecta Tjanstepension Omsesidigt now owns 1,630,000 shares of the business services provider’s stock valued at $335,552,000 after purchasing an additional 1,222,500 shares in the last quarter. Legal & General Group Plc increased its stake in Cintas by 0.4% during the 2nd quarter. Legal & General Group Plc now owns 780,265 shares of the business services provider’s stock valued at $546,388,000 after buying an additional 3,471 shares during the period. Nordea Investment Management AB raised its position in shares of Cintas by 6.3% during the 1st quarter. Nordea Investment Management AB now owns 638,038 shares of the business services provider’s stock worth $438,402,000 after buying an additional 37,727 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Cintas by 3,302.1% in the 3rd quarter. SG Americas Securities LLC now owns 501,233 shares of the business services provider’s stock worth $103,194,000 after acquiring an additional 486,500 shares during the period. Finally, Raymond James & Associates boosted its holdings in shares of Cintas by 305.4% in the third quarter. Raymond James & Associates now owns 484,068 shares of the business services provider’s stock valued at $99,660,000 after acquiring an additional 364,659 shares in the last quarter. Institutional investors and hedge funds own 63.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank of Canada boosted their target price on Cintas from $181.00 to $215.00 and gave the stock a “sector perform” rating in a report on Thursday, September 26th. Wells Fargo & Company boosted their price objective on Cintas from $184.00 to $191.00 and gave the stock an “underweight” rating in a research note on Thursday, September 26th. Robert W. Baird raised their target price on Cintas from $194.00 to $209.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Redburn Atlantic began coverage on shares of Cintas in a research report on Friday, August 9th. They issued a “neutral” rating and a $167.50 price target on the stock. Finally, Jefferies Financial Group reduced their price objective on shares of Cintas from $730.00 to $200.00 and set a “hold” rating for the company in a research report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Cintas has an average rating of “Hold” and a consensus target price of $199.63.

Cintas Trading Down 0.0 %

Cintas stock opened at $211.54 on Wednesday. Cintas Co. has a 52 week low of $123.65 and a 52 week high of $215.37. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.33 and a current ratio of 1.53. The firm has a market capitalization of $21.46 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 4.12 and a beta of 1.32. The company has a 50 day moving average price of $215.48 and a 200 day moving average price of $189.75.

Cintas (NASDAQ:CTAS) last issued its earnings results on Wednesday, September 25th. The business services provider reported $1.10 EPS for the quarter, topping the consensus estimate of $1.00 by $0.10. Cintas had a return on equity of 39.56% and a net margin of 16.80%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the firm posted $3.70 earnings per share. Cintas’s revenue was up 6.8% compared to the same quarter last year. Research analysts forecast that Cintas Co. will post 4.23 EPS for the current year.

Cintas declared that its Board of Directors has authorized a share repurchase plan on Tuesday, July 23rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the business services provider to reacquire up to 1.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.