Invesco Ltd. Acquires 23,872 Shares of Monro, Inc. (NASDAQ:MNRO)

Invesco Ltd. grew its position in Monro, Inc. (NASDAQ:MNRO - Free Report) by 12.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 215,851 shares of the auto parts company's stock after purchasing an additional 23,872 shares during the quarter. Invesco Ltd. owned approximately 0.72% of Monro worth $5,353,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Pacer Advisors Inc. acquired a new position in Monro in the 4th quarter valued at $28,899,000. William Blair Investment Management LLC grew its position in shares of Monro by 2.1% in 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. Geode Capital Management LLC increased its stake in shares of Monro by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 837,302 shares of the auto parts company's stock worth $20,769,000 after purchasing an additional 14,052 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Monro by 7.7% during the 4th quarter. Bank of New York Mellon Corp now owns 374,466 shares of the auto parts company's stock worth $9,287,000 after purchasing an additional 26,855 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in Monro by 2.1% during the 4th quarter. First Eagle Investment Management LLC now owns 315,000 shares of the auto parts company's stock valued at $7,812,000 after purchasing an additional 6,600 shares during the period.

Analysts Set New Price Targets

A number of research analysts have recently commented on MNRO shares. Wells Fargo & Company cut their price target on Monro from $20.00 to $15.00 and set an "equal weight" rating for the company in a report on Monday. Stephens upgraded shares of Monro from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $21.00 to $18.00 in a research note on Friday, April 4th. Finally, Wedbush decreased their price target on shares of Monro from $27.00 to $19.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 1st.

Monro Stock Performance

Shares of MNRO stock traded up $0.25 during mid-day trading on Thursday, reaching $14.19. The stock had a trading volume of 69,051 shares, compared to its average volume of 675,763. Monro, Inc. has a one year low of $13.50 and a one year high of $31.49. The firm has a market cap of $425.04 million, a PE ratio of 22.23, a P/E/G ratio of 2.05 and a beta of 1.09. The firm's 50 day simple moving average is $15.75 and its 200 day simple moving average is $21.67. 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 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a $0.28 dividend. The ex-dividend date was Tuesday, February 25th. This represents a $1.12 annualized dividend and a yield of 7.89%. Monro's dividend payout ratio (DPR) is currently 175.00%.

Monro 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.