T. Rowe Price Investment Management Inc. Boosts Holdings in Monro Muffler Brake, Inc. $MNRO

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Monro Muffler Brake, Inc. by 1.5%, now owning approximately 9.15% of the company valued at $39.67 million.
• Monro Muffler Brake's quarterly earnings exceeded expectations, reporting $0.22 earnings per share against an anticipated $0.17, and revenue of $301.04 million.
• The company recently declared a quarterly dividend of $0.28 per share, representing a yield of 6.5%, with an ex-dividend date of August 26th.

T. Rowe Price Investment Management Inc. raised its position in Monro Muffler Brake, Inc. (NASDAQ:MNRO - Free Report) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,741,498 shares of the auto parts company's stock after purchasing an additional 39,248 shares during the quarter. T. Rowe Price Investment Management Inc. owned 9.15% of Monro Muffler Brake worth $39,670,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MNRO. Adage Capital Partners GP L.L.C. increased its stake in Monro Muffler Brake by 34.0% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,193,289 shares of the auto parts company's stock worth $29,594,000 after buying an additional 302,515 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Monro Muffler Brake by 18.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,611,200 shares of the auto parts company's stock valued at $39,957,000 after purchasing an additional 253,518 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in shares of Monro Muffler Brake in the 4th quarter valued at approximately $5,671,000. Squarepoint Ops LLC acquired a new position in shares of Monro Muffler Brake in the 4th quarter valued at $2,866,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Monro Muffler Brake by 734.1% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 124,757 shares of the auto parts company's stock valued at $1,805,000 after buying an additional 109,800 shares in the last quarter.

Monro Muffler Brake Price Performance

Shares of MNRO traded down $0.14 during trading hours on Friday, reaching $16.87. The company had a trading volume of 80,540 shares, compared to its average volume of 938,710. The firm has a 50 day simple moving average of $15.57 and a 200-day simple moving average of $15.54. 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 company has a market capitalization of $505.76 million, a price-to-earnings ratio of -25.19, a PEG ratio of 1.57 and a beta of 0.97. Monro Muffler Brake, Inc. has a 12-month low of $12.19 and a 12-month high of $30.18.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The auto parts company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.05. The business had revenue of $301.04 million during the quarter, compared to the consensus estimate of $295.05 million. Monro Muffler Brake had a negative net margin of 1.59% and a positive return on equity of 2.49%. The business's revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.22 EPS. Research analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 26th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 6.6%. The ex-dividend date is Tuesday, August 26th. Monro Muffler Brake's dividend payout ratio (DPR) is -167.16%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MNRO. Wall Street Zen upgraded shares of Monro Muffler Brake from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Wells Fargo & Company decreased their price target on shares of 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 research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, Monro Muffler Brake currently has an average rating of "Moderate Buy" and a consensus target price of $17.33.

Monro Muffler Brake Company 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.