Maverick Capital Ltd. Acquires New Shares in Monro Muffler Brake, Inc. $MNRO

Key Points

• Maverick Capital Ltd. acquired a new stake in Monro Muffler Brake, Inc. during the first quarter, purchasing 302,626 shares valued at approximately $4.38 million.
• Monro Muffler Brake recently declared a quarterly dividend of $0.28 per share, with a resulting annualized dividend yield of 6.8%.
• The company's stock has experienced significant analyst interest, with most ratings reflecting a consensus of "Moderate Buy" and a target price of $17.33.

Maverick Capital Ltd. acquired a new position in Monro Muffler Brake, Inc. (NASDAQ:MNRO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 302,626 shares of the auto parts company's stock, valued at approximately $4,379,000. Maverick Capital Ltd. owned 1.01% of Monro Muffler Brake at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. raised its holdings in shares of Monro Muffler Brake by 1.5% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 2,741,498 shares of the auto parts company's stock worth $39,670,000 after purchasing an additional 39,248 shares during the period. Nomura Holdings Inc. raised its holdings in shares of Monro Muffler Brake by 62.8% in the 1st quarter. Nomura Holdings Inc. now owns 1,681,250 shares of the auto parts company's stock worth $24,328,000 after purchasing an additional 648,269 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Monro Muffler Brake by 18.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,611,200 shares of the auto parts company's stock valued at $39,957,000 after buying an additional 253,518 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Monro Muffler Brake by 20.5% in the first quarter. Gamco Investors INC. ET AL now owns 822,515 shares of the auto parts company's stock valued at $11,902,000 after buying an additional 139,730 shares in the last quarter. Finally, Invenomic Capital Management LP grew its stake in shares of Monro Muffler Brake by 7.5% in the fourth quarter. Invenomic Capital Management LP now owns 479,427 shares of the auto parts company's stock valued at $11,890,000 after buying an additional 33,450 shares in the last quarter.

Monro Muffler Brake Price Performance

Shares of NASDAQ MNRO traded up $0.51 during mid-day trading on Friday, reaching $17.68. The company had a trading volume of 760,917 shares, compared to its average volume of 855,309. 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 stock has a market cap of $530.05 million, a PE ratio of -26.39, a P/E/G ratio of 1.57 and a beta of 1.09. The company has a 50-day moving average price of $15.88 and a two-hundred day moving average price of $15.44. Monro Muffler Brake, Inc. has a 1-year low of $12.19 and a 1-year high of $30.18.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The auto parts company reported $0.22 earnings per share (EPS) for the quarter, topping 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 analysts' expectations of $295.05 million. During the same period in the previous year, the firm posted $0.22 EPS. The company's quarterly revenue was up 2.7% on a year-over-year basis. On average, equities analysts anticipate that Monro Muffler Brake, Inc. will post 0.63 earnings per share for the current year.

Monro Muffler Brake Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 9th. Stockholders of record on Tuesday, August 26th will be issued 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 dividend yield of 6.3%. Monro Muffler Brake's payout ratio is currently -167.16%.

Analysts Set New Price Targets

MNRO has been the subject of a number of recent research reports. Wall Street Zen upgraded Monro Muffler Brake from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company lowered their target price on Monro Muffler Brake from $16.00 to $15.00 and set an "equal weight" rating for the company in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.33.

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.