Nebula Research & Development LLC Reduces Stock Position in Monro, Inc. (NASDAQ:MNRO)

Nebula Research & Development LLC lessened its stake in shares of Monro, Inc. (NASDAQ:MNRO - Free Report) by 75.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,174 shares of the auto parts company's stock after selling 27,456 shares during the quarter. Nebula Research & Development LLC's holdings in Monro were worth $228,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Empowered Funds LLC acquired a new stake in shares of Monro in the 4th quarter valued at approximately $3,327,000. Dynamic Technology Lab Private Ltd purchased a new position in Monro in the fourth quarter worth $1,207,000. Arrowstreet Capital Limited Partnership lifted its holdings in Monro by 51.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 92,558 shares of the auto parts company's stock valued at $2,295,000 after acquiring an additional 31,340 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Monro by 68.3% during the 4th quarter. JPMorgan Chase & Co. now owns 152,710 shares of the auto parts company's stock worth $3,787,000 after purchasing an additional 61,988 shares in the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Monro by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 17,534 shares of the auto parts company's stock worth $435,000 after purchasing an additional 3,819 shares during the period.

Monro Price Performance

MNRO traded down $0.23 during midday trading on Wednesday, reaching $13.12. 124,654 shares of the company's stock were exchanged, compared to its average volume of 679,175. Monro, Inc. has a 1-year low of $13.10 and a 1-year high of $31.49. The stock has a market capitalization of $392.93 million, a PE ratio of 20.49, a P/E/G ratio of 2.05 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.54 and a quick ratio of 0.19. The business's 50-day moving average price is $15.40 and its 200 day moving average price is $21.24.

Monro Dividend Announcement

The business also recently disclosed 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 was Tuesday, February 25th. This represents a $1.12 annualized dividend and a dividend yield of 8.54%. Monro's dividend payout ratio is currently 175.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MNRO. Stephens raised shares of Monro from an "equal weight" rating to an "overweight" rating and decreased their price objective for the stock from $21.00 to $18.00 in a report on Friday, April 4th. Wedbush lowered their price target on Monro from $27.00 to $19.00 and set an "outperform" rating on the stock in a report on Tuesday, April 1st. Finally, Wells Fargo & Company reduced their price objective on Monro from $20.00 to $15.00 and set an "equal weight" rating for the company in a report on Monday, April 28th.

About Monro

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.