Vanguard Group Inc. Has $38.76 Million Stock Holdings in Monro Muffler Brake, Inc. $MNRO

Key Points

• Vanguard Group Inc. reduced its holdings in Monro Muffler Brake by 22.0%, ending with approximately 8.94% equity stake worth $38.76 million after selling 756,829 shares.
• The company reported earnings of $0.22 per share for the latest quarter, exceeding expectations, with quarterly revenue up 2.7% year-over-year at $301.04 million.
• Monro Muffler Brake announced a quarterly dividend of $0.28 per share, resulting in an annualized dividend yield of 6.7%, though it has a negative payout ratio of -167.16%.

Vanguard Group Inc. lessened its holdings in Monro Muffler Brake, Inc. (NASDAQ:MNRO - Free Report) by 22.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,678,398 shares of the auto parts company's stock after selling 756,829 shares during the period. Vanguard Group Inc. owned about 8.94% of Monro Muffler Brake worth $38,756,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of MNRO. Wells Fargo & Company MN raised its holdings in shares of Monro Muffler Brake by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 17,534 shares of the auto parts company's stock worth $435,000 after acquiring an additional 3,819 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Monro Muffler Brake during the fourth quarter worth $752,000. Dimensional Fund Advisors LP raised its holdings in shares of Monro Muffler Brake by 18.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,611,200 shares of the auto parts company's stock worth $39,957,000 after acquiring an additional 253,518 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Monro Muffler Brake by 761.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 17,108 shares of the auto parts company's stock worth $424,000 after acquiring an additional 15,123 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Monro Muffler Brake by 84.5% during the fourth quarter. Quarry LP now owns 4,918 shares of the auto parts company's stock worth $122,000 after acquiring an additional 2,252 shares in the last quarter.

Monro Muffler Brake Stock Down 2.5%

NASDAQ MNRO traded down $0.43 during trading on Monday, hitting $16.58. 789,725 shares of the company traded hands, compared to its average volume of 932,597. Monro Muffler Brake, Inc. has a 12 month low of $12.19 and a 12 month high of $30.18. The business has a fifty day simple moving average of $15.61 and a 200 day simple 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 company has a market capitalization of $497.07 million, a P/E ratio of -24.75, a PEG ratio of 1.51 and a beta of 1.09.

Monro Muffler Brake (NASDAQ:MNRO - Get Free Report) last posted its earnings results on Wednesday, July 30th. The auto parts company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.05. Monro Muffler Brake had a positive return on equity of 2.49% and a negative net margin of 1.59%.The company had revenue of $301.04 million for the quarter, compared to analyst estimates of $295.05 million. During the same period last year, the company earned $0.22 earnings per share. The business's revenue was up 2.7% compared to the same quarter last year. As a group, sell-side analysts predict that Monro Muffler Brake, Inc. will post 0.63 EPS for the current year.

Monro Muffler Brake Announces Dividend

The business 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 6.8%. The ex-dividend date is Tuesday, August 26th. Monro Muffler Brake's dividend payout ratio (DPR) is -167.16%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MNRO shares. Wells Fargo & Company cut their price objective on Monro Muffler Brake from $16.00 to $15.00 and set an "equal weight" rating for the company in a report on Thursday, July 31st. Wall Street Zen upgraded Monro Muffler Brake from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company has a consensus 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.