Oregon Public Employees Retirement Fund lowered its stake in Monro, Inc. (NASDAQ:MNRO – Get Rating) by 2.3% during the first quarter, HoldingsChannel reports. The firm owned 12,566 shares of the auto parts company’s stock after selling 300 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Monro were worth $557,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of the stock. OLD National Bancorp IN grew its position in Monro by 6.6% in the 4th quarter. OLD National Bancorp IN now owns 3,745 shares of the auto parts company’s stock valued at $218,000 after buying an additional 233 shares during the last quarter. D.B. Root & Company LLC increased its stake in shares of Monro by 1.8% during the fourth quarter. D.B. Root & Company LLC now owns 14,348 shares of the auto parts company’s stock worth $836,000 after acquiring an additional 250 shares during the period. Barclays PLC raised its holdings in Monro by 1.0% during the fourth quarter. Barclays PLC now owns 41,242 shares of the auto parts company’s stock worth $2,404,000 after purchasing an additional 401 shares in the last quarter. Citigroup Inc. raised its holdings in Monro by 1.7% during the fourth quarter. Citigroup Inc. now owns 28,936 shares of the auto parts company’s stock worth $1,686,000 after purchasing an additional 471 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Monro by 0.9% in the fourth quarter. Public Sector Pension Investment Board now owns 68,316 shares of the auto parts company’s stock valued at $3,981,000 after purchasing an additional 610 shares during the period.
Analysts Set New Price Targets
Several equities analysts have issued reports on the company. StockNews.com cut Monro from a “buy” rating to a “hold” rating in a research report on Monday, May 23rd. BMO Capital Markets dropped their price objective on Monro from $65.00 to $47.00 in a report on Friday, May 20th.
Monro Stock Up 2.4 %
Shares of NASDAQ MNRO opened at $47.12 on Friday. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 2.00 and a beta of 1.02. Monro, Inc. has a 52 week low of $37.49 and a 52 week high of $64.71. The firm has a 50-day moving average price of $44.17 and a 200 day moving average price of $46.86. The company has a quick ratio of 0.25, a current ratio of 0.76 and a debt-to-equity ratio of 0.68.
Monro (NASDAQ:MNRO – Get Rating) last issued its earnings results on Thursday, May 19th. The auto parts company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.26). The company had revenue of $328.00 million during the quarter, compared to analysts’ expectations of $328.18 million. Monro had a net margin of 4.53% and a return on equity of 8.15%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the business posted $0.38 earnings per share. Equities research analysts anticipate that Monro, Inc. will post 1.47 EPS for the current fiscal year.
Monro Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 20th. Shareholders of record on Monday, June 6th were issued a $0.28 dividend. This is a positive change from Monro’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, June 3rd. This represents a $1.12 annualized dividend and a yield of 2.38%. Monro’s dividend payout ratio is 61.88%.
Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. It offers replacement tires and tire related services; routine maintenance services on passenger cars, light trucks, and vans; products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment.
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