Monro, Inc. (NASDAQ:MNRO) Shares Bought by Invenomic Capital Management LP

Invenomic Capital Management LP grew its stake in Monro, Inc. (NASDAQ:MNRO - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 479,427 shares of the auto parts company's stock after purchasing an additional 33,450 shares during the period. Invenomic Capital Management LP owned about 1.60% of Monro worth $11,890,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Empowered Funds LLC acquired a new position in Monro in the 4th quarter worth about $3,327,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Monro during the 4th quarter worth approximately $1,207,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Monro by 51.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 92,558 shares of the auto parts company's stock valued at $2,295,000 after buying an additional 31,340 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Monro by 68.3% in the 4th quarter. JPMorgan Chase & Co. now owns 152,710 shares of the auto parts company's stock valued at $3,787,000 after acquiring an additional 61,988 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Monro by 27.8% in the 4th 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.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on MNRO shares. Stephens raised shares of Monro from an "equal weight" rating to an "overweight" rating and decreased their price objective for the company from $21.00 to $18.00 in a report on Friday, April 4th. 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 note on Tuesday, April 1st. Finally, Wells Fargo & Company lowered their price objective on Monro from $20.00 to $15.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th.

Monro Price Performance

MNRO traded up $0.20 on Wednesday, hitting $12.98. 977,416 shares of the company's stock were exchanged, compared to its average volume of 692,255. Monro, Inc. has a fifty-two week low of $12.20 and a fifty-two week high of $31.49. The stock has a market cap of $388.74 million, a price-to-earnings ratio of 20.28, a P/E/G ratio of 2.05 and a beta of 0.95. The firm has a 50-day moving average price of $14.89 and a 200-day moving average price of $20.67. The company has a current ratio of 0.54, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45.

Monro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.12 dividend on an annualized basis and a yield of 8.63%. Monro's payout ratio is presently 175.00%.

Monro 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.