Monro, Inc. (NASDAQ:MNRO) Shares Sold by Royce & Associates LP

Royce & Associates LP reduced its stake in Monro, Inc. (NASDAQ:MNRO) by 8.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,403 shares of the auto parts company’s stock after selling 3,353 shares during the period. Royce & Associates LP owned approximately 0.13% of Monro worth $952,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Wealthfront Advisers LLC acquired a new stake in shares of Monro in the fourth quarter valued at $52,000. Quarry LP raised its stake in Monro by 30.2% in the third quarter. Quarry LP now owns 2,666 shares of the auto parts company’s stock valued at $77,000 after buying an additional 619 shares in the last quarter. XTX Topco Ltd acquired a new stake in Monro in the third quarter valued at $213,000. Bleakley Financial Group LLC raised its stake in Monro by 17.9% in the fourth quarter. Bleakley Financial Group LLC now owns 9,939 shares of the auto parts company’s stock valued at $246,000 after buying an additional 1,506 shares in the last quarter. Finally, Arete Wealth Advisors LLC acquired a new stake in Monro in the third quarter valued at $287,000.

Monro Stock Performance

Shares of MNRO stock opened at $17.20 on Friday. The stock’s 50-day moving average is $19.06 and its two-hundred day moving average is $24.14. The firm has a market cap of $515.12 million, a price-to-earnings ratio of 26.88, a PEG ratio of 2.05 and a beta of 1.09. Monro, Inc. has a 1 year low of $15.75 and a 1 year high of $32.06. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.54.

Monro (NASDAQ:MNRO) last issued its quarterly earnings data on Wednesday, January 29th. The auto parts company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.31 by ($0.12). Monro had a return on equity of 3.76% and a net margin of 1.64%. Analysts predict that Monro, Inc. will post 0.63 earnings per share for the current year.

Monro Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date was Tuesday, February 25th. Monro’s dividend payout ratio is currently 175.00%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on MNRO shares. Wedbush restated an “outperform” rating and issued a $31.00 price target on shares of Monro in a research note on Wednesday, December 18th. Stephens restated an “equal weight” rating and issued a $21.00 price target on shares of Monro in a research note on Thursday, February 27th. Finally, Wells Fargo & Company cut their price target on Monro from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th.

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.