ST. JAMES INVESTMENT COMPANY

Cintas Corporation (CTAS)

Posted: April, 14, 2010

At the end of the first quarter, we sold our entire portfolio position in Cintas for an average price of $28.50. Cintas was within 7% of our estimate of fair value. Although a margin of safety still existed, we grew increasingly uncomfortable with management’s decisions on reinvesting its excess capital. In order for any company … Continue reading “Cintas Corporation (CTAS)”