New York State Teachers Retirement System Trims Stake in Monro, Inc. (NASDAQ:MNRO)

New York State Teachers Retirement System lowered its stake in shares of Monro, Inc. (NASDAQ:MNRO) by 2.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,674 shares of the auto parts company’s stock after selling 700 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Monro worth $724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of MNRO. Morgan Stanley increased its position in shares of Monro by 204.5% during the fourth quarter. Morgan Stanley now owns 872,346 shares of the auto parts company’s stock valued at $39,430,000 after buying an additional 585,861 shares during the period. Pacer Advisors Inc. increased its position in shares of Monro by 63.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,168,504 shares of the auto parts company’s stock valued at $34,284,000 after buying an additional 453,980 shares during the period. Balyasny Asset Management L.P. purchased a new stake in Monro in the first quarter worth about $14,359,000. Wellington Management Group LLP grew its holdings in Monro by 35.5% in the first quarter. Wellington Management Group LLP now owns 1,094,229 shares of the auto parts company’s stock worth $48,519,000 after purchasing an additional 286,762 shares during the period. Finally, Norges Bank purchased a new stake in Monro in the fourth quarter worth about $12,790,000.

Insiders Place Their Bets

In other news, CEO Michael T. Broderick bought 5,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were purchased at an average price of $32.30 per share, for a total transaction of $161,500.00. Following the completion of the purchase, the chief executive officer now owns 90,487 shares in the company, valued at approximately $2,922,730.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.70% of the company’s stock.

Monro Price Performance

Shares of MNRO opened at $29.74 on Friday. The stock has a market cap of $889.23 million, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.11. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.23 and a current ratio of 0.56. Monro, Inc. has a fifty-two week low of $22.72 and a fifty-two week high of $50.20. The firm’s 50-day simple moving average is $31.24 and its two-hundred day simple moving average is $29.61.

Monro (NASDAQ:MNRO) last announced its quarterly earnings data on Wednesday, January 24th. The auto parts company reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $317.65 million for the quarter, compared to analysts’ expectations of $324.75 million. Monro had a net margin of 2.68% and a return on equity of 5.59%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.43 earnings per share. Analysts anticipate that Monro, Inc. will post 1.45 earnings per share for the current fiscal year.

Monro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend was Thursday, March 7th. Monro’s dividend payout ratio (DPR) is presently 104.67%.

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.