Wasatch Advisors LP Lowers Position in Monro, Inc. (NASDAQ:MNRO)

Wasatch Advisors LP lessened its stake in Monro, Inc. (NASDAQ:MNRO) by 19.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 35,140 shares of the auto parts company’s stock after selling 8,540 shares during the quarter. Wasatch Advisors LP’s holdings in Monro were worth $1,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its stake in shares of Monro by 4.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 11,701 shares of the auto parts company’s stock worth $279,000 after buying an additional 458 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Monro by 99.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,048 shares of the auto parts company’s stock worth $25,000 after buying an additional 523 shares during the period. D.B. Root & Company LLC raised its stake in shares of Monro by 7.0% during the 3rd quarter. D.B. Root & Company LLC now owns 14,234 shares of the auto parts company’s stock worth $411,000 after buying an additional 927 shares during the period. Pullen Investment Management LLC raised its stake in shares of Monro by 3.4% during the 2nd quarter. Pullen Investment Management LLC now owns 44,366 shares of the auto parts company’s stock worth $1,058,000 after buying an additional 1,463 shares during the period. Finally, Prosperity Consulting Group LLC raised its stake in shares of Monro by 9.2% during the 2nd quarter. Prosperity Consulting Group LLC now owns 17,459 shares of the auto parts company’s stock worth $417,000 after buying an additional 1,466 shares during the period.

Monro Stock Down 0.3 %

NASDAQ MNRO opened at $28.12 on Monday. The business has a fifty day moving average price of $28.06 and a 200 day moving average price of $26.16. Monro, Inc. has a one year low of $21.00 and a one year high of $33.98. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.21 and a current ratio of 0.53. The company has a market cap of $842.19 million, a P/E ratio of 32.32, a P/E/G ratio of 2.25 and a beta of 1.11.

Monro (NASDAQ:MNRO) last posted its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.08). Monro had a net margin of 2.24% and a return on equity of 4.77%. The firm had revenue of $301.39 million during the quarter, compared to analyst estimates of $300.06 million. During the same period in the prior year, the company posted $0.41 earnings per share. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. Research analysts anticipate that Monro, Inc. will post 0.83 EPS for the current fiscal year.

Monro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.98%. The ex-dividend date of this dividend is Tuesday, December 3rd. Monro’s dividend payout ratio is currently 128.74%.

Analyst Ratings Changes

Separately, Stephens initiated coverage on Monro in a research note on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 target price for the company.

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.