Connor Clark & Lunn Investment Management Ltd. Purchases 109,800 Shares of Monro Muffler Brake, Inc. (NASDAQ:MNRO)

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its stake in Monro Muffler Brake, Inc. by 734.1% during the 1st quarter, acquiring an additional 109,800 shares and now holding approximately 0.42% of the company.
• Monro Muffler Brake reported a quarterly earnings per share (EPS) of $0.22, surpassing analysts' expectations, with revenue increasing to $301.04 million for the quarter.
• The company declared a quarterly dividend of $0.28 per share with an annualized yield of 7.1%, though its dividend payout ratio is notably negative at -167.16%.

Connor Clark & Lunn Investment Management Ltd. increased its position in Monro Muffler Brake, Inc. (NASDAQ:MNRO - Free Report) by 734.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 124,757 shares of the auto parts company's stock after acquiring an additional 109,800 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.42% of Monro Muffler Brake worth $1,805,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MNRO. JPMorgan Chase & Co. grew its holdings in shares of Monro Muffler Brake by 68.3% in the fourth quarter. JPMorgan Chase & Co. now owns 152,710 shares of the auto parts company's stock worth $3,787,000 after acquiring an additional 61,988 shares during the period. Geode Capital Management LLC grew its holdings in Monro Muffler Brake by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 837,302 shares of the auto parts company's stock valued at $20,769,000 after purchasing an additional 14,052 shares during the period. Wells Fargo & Company MN grew its holdings in Monro Muffler Brake by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 17,534 shares of the auto parts company's stock valued at $435,000 after purchasing an additional 3,819 shares during the period. Invesco Ltd. grew its holdings in Monro Muffler Brake by 12.4% during the fourth quarter. Invesco Ltd. now owns 215,851 shares of the auto parts company's stock valued at $5,353,000 after purchasing an additional 23,872 shares during the period. Finally, Renaissance Technologies LLC grew its holdings in Monro Muffler Brake by 3.7% during the fourth quarter. Renaissance Technologies LLC now owns 160,779 shares of the auto parts company's stock valued at $3,987,000 after purchasing an additional 5,700 shares during the period.

Monro Muffler Brake Price Performance

NASDAQ:MNRO opened at $15.70 on Friday. The company has a current ratio of 0.50, a quick ratio of 0.16 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $470.69 million, a P/E ratio of -23.43, a P/E/G ratio of 1.45 and a beta of 0.97. Monro Muffler Brake, Inc. has a 12 month low of $12.19 and a 12 month high of $30.18. The business's 50-day moving average is $15.33 and its 200 day moving average is $15.72.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The auto parts company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. Monro Muffler Brake had a positive return on equity of 2.49% and a negative net margin of 1.59%. The business had revenue of $301.04 million for the quarter, compared to the consensus estimate of $295.05 million. During the same period in the prior year, the business posted $0.22 earnings per share. The company's quarterly revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Monro Muffler Brake, Inc. will post 0.63 earnings per share for the current fiscal year.

Monro Muffler Brake Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be given a dividend of $0.28 per share. The ex-dividend date is Tuesday, August 26th. This represents a $1.12 dividend on an annualized basis and a yield of 7.1%. Monro Muffler Brake's dividend payout ratio is -167.16%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on MNRO shares. Wells Fargo & Company lowered their price objective on Monro Muffler Brake from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. Wall Street Zen upgraded Monro Muffler Brake from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd.

Monro Muffler Brake Profile

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. It offers replacement tires and tire related services, automotive undercar repair services, and routine maintenance services primarily to passenger cars, light trucks, and vans. The company also provides other products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment.

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