Invesco Ltd. Grows Position in Monro Muffler Brake, Inc. $MNRO

Key Points

• Invesco Ltd. increased its stake in Monro Muffler Brake, Inc. by 16.2%, acquiring an additional 34,952 shares, bringing their total ownership to 250,803 shares valued at approximately $3.6 million.
• Monro Muffler Brake reported $0.22 earnings per share for the last quarter, exceeding estimates and showing a 2.7% revenue growth year-over-year.
• The company announced a quarterly dividend of $0.28 per share, which equates to an annualized yield of 6.6%.

Invesco Ltd. increased its position in Monro Muffler Brake, Inc. (NASDAQ:MNRO - Free Report) by 16.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 250,803 shares of the auto parts company's stock after purchasing an additional 34,952 shares during the quarter. Invesco Ltd. owned approximately 0.84% of Monro Muffler Brake worth $3,629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Monro Muffler Brake by 734.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,757 shares of the auto parts company's stock worth $1,805,000 after acquiring an additional 109,800 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Monro Muffler Brake by 9.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 373,384 shares of the auto parts company's stock worth $5,403,000 after acquiring an additional 32,666 shares during the last quarter. TradeLink Capital LLC purchased a new stake in shares of Monro Muffler Brake in the first quarter worth $240,000. XTX Topco Ltd purchased a new stake in shares of Monro Muffler Brake in the first quarter worth $993,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of Monro Muffler Brake in the first quarter worth $629,000.

Monro Muffler Brake Stock Performance

Shares of MNRO traded down $0.23 during trading hours on Tuesday, hitting $16.36. The stock had a trading volume of 300,844 shares, compared to its average volume of 939,114. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.50 and a quick ratio of 0.16. Monro Muffler Brake, Inc. has a 12 month low of $12.19 and a 12 month high of $30.18. The firm has a market capitalization of $490.32 million, a PE ratio of -24.46, a PEG ratio of 1.51 and a beta of 1.09. The stock has a fifty day moving average price of $15.65 and a 200 day moving average price of $15.45.

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 EPS for the quarter, topping the consensus estimate 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 company had revenue of $301.04 million during the quarter, compared to analyst estimates of $295.05 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. Monro Muffler Brake's revenue was up 2.7% compared to the same quarter last year. Analysts anticipate that Monro Muffler Brake, Inc. will post 0.63 EPS for the current year.

Monro Muffler Brake Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 9th. Investors of record on Tuesday, August 26th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $1.12 annualized dividend and a dividend yield of 6.8%. Monro Muffler Brake's payout ratio is presently -167.16%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MNRO. Wells Fargo & Company cut their target price on Monro Muffler Brake from $16.00 to $15.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Wall Street Zen raised Monro Muffler Brake from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Monro Muffler Brake currently has an average rating of "Moderate Buy" and a consensus price target of $17.33.

Monro Muffler Brake Company 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.