Nuveen Asset Management LLC cut its stake in Monro, Inc. (NASDAQ:MNRO - Free Report) by 38.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 402,895 shares of the auto parts company's stock after selling 255,945 shares during the period. Nuveen Asset Management LLC owned 1.35% of Monro worth $9,992,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. raised its holdings in Monro by 3.3% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,702,250 shares of the auto parts company's stock valued at $67,016,000 after acquiring an additional 85,378 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Monro 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 acquiring an additional 253,518 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Monro by 34.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,193,289 shares of the auto parts company's stock valued at $29,594,000 after purchasing an additional 302,515 shares during the last quarter. Pacer Advisors Inc. bought a new stake in Monro during the fourth quarter valued at $28,899,000. Finally, William Blair Investment Management LLC increased its stake in Monro by 2.1% during the fourth quarter. William Blair Investment Management LLC now owns 1,121,027 shares of the auto parts company's stock valued at $27,801,000 after purchasing an additional 23,184 shares during the last quarter.
Wall Street Analyst Weigh In
Several analysts have weighed in on the stock. Stephens upgraded shares of Monro from an "equal weight" rating to an "overweight" rating and lowered their target price for the company from $21.00 to $18.00 in a research note on Friday, April 4th. Wedbush lowered their target price on shares of Monro from $27.00 to $19.00 and set an "outperform" rating for the company in a research note on Tuesday, April 1st. Finally, Wells Fargo & Company boosted their target price on shares of Monro from $15.00 to $16.00 and gave the company an "equal weight" rating in a research note on Thursday.
Read Our Latest Stock Report on Monro
Monro Stock Performance
MNRO stock traded down $0.87 during trading on Thursday, hitting $15.88. 1,777,351 shares of the company's stock traded hands, compared to its average volume of 709,766. The company has a quick ratio of 0.19, a current ratio of 0.54 and a debt-to-equity ratio of 0.45. Monro, Inc. has a 52 week low of $12.20 and a 52 week high of $31.49. The stock has a fifty day moving average price of $14.22 and a two-hundred day moving average price of $19.66. The stock has a market capitalization of $475.59 million, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 2.05 and a beta of 0.95.
Monro (NASDAQ:MNRO - Get Free Report) last released its quarterly 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). The firm had revenue of $294.99 million for the quarter, compared to the consensus estimate of $288.60 million. Monro had a return on equity of 3.76% and a net margin of 1.64%. The firm's revenue was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 EPS. As a group, equities analysts anticipate that Monro, Inc. will post 0.63 EPS for the current fiscal year.
Monro Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders 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 annualized dividend and a dividend yield of 7.05%. Monro's dividend payout ratio is currently 175.00%.
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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