Millennium Management LLC reduced its position in shares of Monro, Inc. (NASDAQ:MNRO - Free Report) by 94.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,301 shares of the auto parts company's stock after selling 886,653 shares during the period. Millennium Management LLC owned approximately 0.17% of Monro worth $1,297,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Bleakley Financial Group LLC raised its stake in shares of Monro by 17.9% during the 4th quarter. Bleakley Financial Group LLC now owns 9,939 shares of the auto parts company's stock worth $246,000 after buying an additional 1,506 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Monro during the 4th quarter worth approximately $3,327,000. Principal Financial Group Inc. raised its position in shares of Monro by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 145,222 shares of the auto parts company's stock worth $3,602,000 after purchasing an additional 4,169 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in Monro in the 4th quarter valued at approximately $272,000. Finally, Bank of New York Mellon Corp grew its holdings in Monro by 7.7% during the 4th quarter. Bank of New York Mellon Corp now owns 374,466 shares of the auto parts company's stock valued at $9,287,000 after buying an additional 26,855 shares during the last quarter.
Monro Trading Up 2.3%
Shares of NASDAQ MNRO traded up $0.37 on Friday, reaching $16.21. 656,647 shares of the company traded hands, compared to its average volume of 718,072. The stock has a market capitalization of $485.80 million, a PE ratio of 25.33, a P/E/G ratio of 2.05 and a beta of 0.98. Monro, Inc. has a fifty-two week low of $12.20 and a fifty-two week high of $31.49. The company has a current ratio of 0.54, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average of $14.20 and a 200 day moving average of $19.09.
Monro (NASDAQ:MNRO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The auto parts company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.18). The company had revenue of $294.99 million for the quarter, compared to analysts' expectations of $288.60 million. Monro had a net margin of 1.64% and a return on equity of 3.76%. The firm's quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, equities research analysts forecast that Monro, Inc. will post 0.63 earnings per share for the current fiscal year.
Monro Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be given a dividend of $0.28 per share. The ex-dividend date is Tuesday, June 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 6.91%. Monro's dividend payout ratio (DPR) is -560.00%.
Analyst Ratings Changes
Several brokerages have recently issued reports on MNRO. Wells Fargo & Company upped their price objective on Monro from $15.00 to $16.00 and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Stephens raised shares of Monro from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $21.00 to $18.00 in a research note on Friday, April 4th. Wall Street Zen cut shares of Monro from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st. Finally, Wedbush reduced their price target on Monro from $27.00 to $19.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st.
Get Our Latest Report on MNRO
About Monro
(
Free Report)
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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