Geode Capital Management LLC Boosts Stock Position in Monro, Inc. (NASDAQ:MNRO)

Geode Capital Management LLC raised its stake in Monro, Inc. (NASDAQ:MNRO) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 823,250 shares of the auto parts company’s stock after purchasing an additional 20,420 shares during the quarter. Geode Capital Management LLC’s holdings in Monro were worth $23,763,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MNRO. The Manufacturers Life Insurance Company lifted its holdings in shares of Monro by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 11,701 shares of the auto parts company’s stock worth $279,000 after purchasing an additional 458 shares during the period. Quarry LP raised its position in Monro by 30.2% during the 3rd quarter. Quarry LP now owns 2,666 shares of the auto parts company’s stock worth $77,000 after buying an additional 619 shares during the last quarter. D.B. Root & Company LLC lifted its stake in shares of Monro by 7.0% in the 3rd quarter. D.B. Root & Company LLC now owns 14,234 shares of the auto parts company’s stock worth $411,000 after acquiring an additional 927 shares during the period. Prosperity Consulting Group LLC boosted its holdings in shares of Monro by 9.2% in the second quarter. Prosperity Consulting Group LLC now owns 17,459 shares of the auto parts company’s stock valued at $417,000 after acquiring an additional 1,466 shares in the last quarter. Finally, Innealta Capital LLC acquired a new position in shares of Monro during the second quarter worth about $38,000.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MNRO. Wedbush reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Monro in a report on Wednesday, December 18th. Stephens started coverage on Monro in a report on Tuesday, October 15th. They issued an “equal weight” rating and a $31.00 price target for the company.

Monro Stock Performance

NASDAQ:MNRO opened at $24.76 on Friday. The firm’s fifty day simple moving average is $27.39 and its 200-day simple moving average is $26.36. The company has a quick ratio of 0.21, a current ratio of 0.53 and a debt-to-equity ratio of 0.47. The stock has a market cap of $741.54 million, a PE ratio of 28.46, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. Monro, Inc. has a fifty-two week low of $21.00 and a fifty-two week high of $33.98.

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

Monro Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date was Tuesday, December 3rd. Monro’s dividend payout ratio is currently 128.74%.

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.