Russell Investments Group Ltd. lifted its position in Monro Inc (NASDAQ:MNRO) by 3.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,848 shares of the auto parts company’s stock after purchasing an additional 2,194 shares during the quarter. Russell Investments Group Ltd. owned 0.20% of Monro worth $5,532,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Geode Capital Management LLC raised its position in Monro by 5.8% during the 4th quarter. Geode Capital Management LLC now owns 392,705 shares of the auto parts company’s stock worth $26,998,000 after buying an additional 21,499 shares during the last quarter. Comerica Bank increased its holdings in shares of Monro by 2.2% in the 1st quarter. Comerica Bank now owns 32,932 shares of the auto parts company’s stock valued at $2,737,000 after purchasing an additional 702 shares in the last quarter. Texas Permanent School Fund increased its holdings in shares of Monro by 4.1% in the 1st quarter. Texas Permanent School Fund now owns 22,476 shares of the auto parts company’s stock valued at $1,945,000 after purchasing an additional 890 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of Monro by 7.9% in the 1st quarter. California Public Employees Retirement System now owns 69,956 shares of the auto parts company’s stock valued at $6,053,000 after purchasing an additional 5,104 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new position in shares of Monro in the 1st quarter valued at about $389,000.
In related news, insider Maureen Mulholland sold 500 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $84.40, for a total value of $42,200.00. Following the sale, the insider now directly owns 574 shares of the company’s stock, valued at $48,445.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Donald Glickman sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $86.14, for a total transaction of $215,350.00. Following the completion of the sale, the director now directly owns 173,578 shares in the company, valued at $14,952,008.92. The disclosure for this sale can be found here. Insiders sold 13,500 shares of company stock worth $1,152,285 over the last three months. Corporate insiders own 4.40% of the company’s stock.
Shares of MNRO traded up $0.82 during mid-day trading on Friday, hitting $76.62. The company had a trading volume of 2,836 shares, compared to its average volume of 257,415. The business’s 50-day simple moving average is $80.13 and its 200-day simple moving average is $81.65. The company has a quick ratio of 0.28, a current ratio of 0.93 and a debt-to-equity ratio of 0.81. Monro Inc has a 1-year low of $60.78 and a 1-year high of $89.72. The stock has a market cap of $2.58 billion, a PE ratio of 32.20, a P/E/G ratio of 2.26 and a beta of 0.79.
Monro (NASDAQ:MNRO) last released its earnings results on Thursday, July 25th. The auto parts company reported $0.68 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.02. Monro had a net margin of 6.69% and a return on equity of 12.01%. The business had revenue of $317.10 million for the quarter, compared to analysts’ expectations of $320.60 million. During the same period last year, the company earned $0.64 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts expect that Monro Inc will post 2.64 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Monday, August 26th were given a $0.22 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This is a boost from Monro’s previous quarterly dividend of $0.11. This represents a $0.88 annualized dividend and a dividend yield of 1.15%. Monro’s dividend payout ratio (DPR) is currently 36.97%.
A number of brokerages recently commented on MNRO. Oppenheimer cut shares of Monro from an “outperform” rating to a “market perform” rating and set a $86.00 price objective on the stock. in a research note on Thursday, July 11th. ValuEngine cut shares of Monro from a “buy” rating to a “hold” rating in a research note on Thursday. BidaskClub raised shares of Monro from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. CL King reaffirmed a “hold” rating on shares of Monro in a research note on Wednesday, May 22nd. Finally, BMO Capital Markets started coverage on shares of Monro in a research note on Friday, August 9th. They set a “market perform” rating and a $90.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus price target of $86.78.
Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. The company offers range of services on passenger cars, light trucks, and vans for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment. It also provides other products and services, including tires and routine maintenance services, including state inspections.
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