Bank of America Corp DE Sells 143,047 Shares of Monro, Inc. (NASDAQ:MNRO)

Bank of America Corp DE reduced its position in shares of Monro, Inc. (NASDAQ:MNRO - Free Report) by 94.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,440 shares of the auto parts company's stock after selling 143,047 shares during the quarter. Bank of America Corp DE's holdings in Monro were worth $209,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Wealthfront Advisers LLC bought a new position in Monro during the fourth quarter valued at about $52,000. Quarry LP boosted its position in shares of Monro by 84.5% during the 4th quarter. Quarry LP now owns 4,918 shares of the auto parts company's stock valued at $122,000 after purchasing an additional 2,252 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in shares of Monro in the 4th quarter worth approximately $156,000. Semanteon Capital Management LP bought a new stake in shares of Monro in the 4th quarter worth approximately $263,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Monro during the fourth quarter valued at approximately $272,000.

Monro Trading Up 1.0%

NASDAQ MNRO traded up $0.14 on Monday, hitting $14.75. 496,215 shares of the stock were exchanged, compared to its average volume of 724,371. The company's 50-day moving average price is $14.33 and its two-hundred day moving average price is $18.49. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.54 and a quick ratio of 0.19. Monro, Inc. has a 52-week low of $12.20 and a 52-week high of $31.49. The company has a market capitalization of $442.04 million, a price-to-earnings ratio of 23.05, a P/E/G ratio of 2.05 and a beta of 0.98.

Monro (NASDAQ:MNRO - Get Free Report) last issued its earnings results on Wednesday, May 28th. The auto parts company reported ($0.09) EPS for the quarter, missing the consensus estimate of $0.09 by ($0.18). Monro had a return on equity of 3.76% and a net margin of 1.64%. The business had revenue of $294.99 million during the quarter, compared to analyst estimates of $288.60 million. During the same period last year, the business earned $0.21 EPS. The business's quarterly revenue was down 4.9% on a year-over-year basis. Research analysts predict that Monro, Inc. will post 0.63 EPS for the current year.

Monro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Tuesday, June 3rd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Tuesday, June 3rd. This represents a $1.12 annualized dividend and a yield of 7.59%. Monro's dividend payout ratio (DPR) is presently -560.00%.

Wall Street Analyst Weigh In

MNRO has been the topic of several research reports. Wedbush dropped their price target on Monro from $27.00 to $19.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Wells Fargo & Company boosted their target price on Monro from $15.00 to $16.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Stephens upgraded Monro from an "equal weight" rating to an "overweight" rating and decreased their price target for the company from $21.00 to $18.00 in a research report on Friday, April 4th. Finally, Wall Street Zen cut Monro from a "hold" rating to a "sell" rating in a research note on Saturday, May 31st.

Monro 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.