Nomura Holdings Inc. Raises Stake in Monro Muffler Brake, Inc. $MNRO

Key Points

• Nomura Holdings Inc. increased its stake in Monro Muffler Brake, Inc. by 62.8%, now owning approximately 5.61% of the company, worth about $24.3 million.
• Monro Muffler Brake reported earnings of $0.22 per share, exceeding expectations, as its revenue grew by 2.7% year-over-year to $301.04 million.
• The company declared a quarterly dividend of $0.28 per share with a dividend yield of 6.8%, although its payout ratio is negative at -167.16%.

Nomura Holdings Inc. raised its position in Monro Muffler Brake, Inc. (NASDAQ:MNRO - Free Report) by 62.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,681,250 shares of the auto parts company's stock after acquiring an additional 648,269 shares during the period. Nomura Holdings Inc. owned approximately 5.61% of Monro Muffler Brake worth $24,328,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Landscape Capital Management L.L.C. purchased a new position in shares of Monro Muffler Brake in the 1st quarter valued at about $3,230,000. Gamco Investors INC. ET AL grew its stake in Monro Muffler Brake by 20.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 822,515 shares of the auto parts company's stock valued at $11,902,000 after acquiring an additional 139,730 shares during the last quarter. Gabelli Funds LLC grew its stake in Monro Muffler Brake by 43.9% in the 1st quarter. Gabelli Funds LLC now owns 175,500 shares of the auto parts company's stock valued at $2,539,000 after acquiring an additional 53,500 shares during the last quarter. Rafferty Asset Management LLC grew its stake in Monro Muffler Brake by 8.8% in the 1st quarter. Rafferty Asset Management LLC now owns 16,398 shares of the auto parts company's stock valued at $237,000 after acquiring an additional 1,327 shares during the last quarter. Finally, Jump Financial LLC grew its stake in Monro Muffler Brake by 31.1% in the 1st quarter. Jump Financial LLC now owns 26,451 shares of the auto parts company's stock valued at $383,000 after acquiring an additional 6,269 shares during the last quarter.

Monro Muffler Brake Trading Up 2.0%

Shares of NASDAQ MNRO traded up $0.34 on Thursday, reaching $17.20. 372,298 shares of the company traded hands, compared to its average volume of 940,147. Monro Muffler Brake, Inc. has a fifty-two week low of $12.19 and a fifty-two week high of $30.18. The company has a 50 day moving average of $15.75 and a 200 day moving average of $15.47. 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 capitalization of $515.51 million, a PE ratio of -25.66, a P/E/G ratio of 1.51 and a beta of 1.09.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The auto parts company reported $0.22 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. Monro Muffler Brake had a negative net margin of 1.59% and a positive return on equity of 2.49%. The company had revenue of $301.04 million during the quarter, compared to the consensus estimate of $295.05 million. During the same quarter in the prior year, the company posted $0.22 EPS. 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 company also recently disclosed 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date is Tuesday, August 26th. Monro Muffler Brake's dividend payout ratio is presently -167.16%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MNRO shares. Wall Street Zen raised shares of Monro Muffler Brake from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Wells Fargo & Company lowered their price objective on shares of 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. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.