Clearbridge LLC increased its stake in shares of Monro Inc (NASDAQ:MNRO) by 10.1% during the 4th quarter, HoldingsChannel reports. The fund owned 353,229 shares of the auto parts company’s stock after acquiring an additional 32,400 shares during the period. Clearbridge LLC’s holdings in Monro were worth $20,116,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Advisor Group Inc. lifted its stake in shares of Monro by 837.7% in the fourth quarter. Advisor Group Inc. now owns 3,854 shares of the auto parts company’s stock valued at $219,000 after buying an additional 3,443 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Monro in the fourth quarter valued at $232,000. Global Endowment Management LP bought a new position in shares of Monro in the fourth quarter valued at $251,000. Parametrica Management Ltd bought a new position in shares of Monro in the fourth quarter valued at $266,000. Finally, SG Americas Securities LLC bought a new position in shares of Monro in the fourth quarter valued at $404,000.
In related news, Director Stephen C. Mccluski sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $55.51, for a total transaction of $555,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Maureen Mulholland sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 1st. The stock was sold at an average price of $51.00, for a total transaction of $153,000.00. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.
Monro (NASDAQ:MNRO) last announced its earnings results on Tuesday, January 30th. The auto parts company reported $0.50 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $285.70 million during the quarter, compared to the consensus estimate of $292.94 million. Monro had a net margin of 5.13% and a return on equity of 10.48%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share. sell-side analysts expect that Monro Inc will post 2.07 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Friday, March 16th will be issued a $0.18 dividend. The ex-dividend date is Thursday, March 15th. This represents a $0.72 annualized dividend and a dividend yield of 1.32%. Monro’s dividend payout ratio is currently 42.60%.
A number of research firms have weighed in on MNRO. TheStreet raised shares of Monro from a “c+” rating to a “b-” rating in a research note on Thursday, December 21st. BidaskClub raised shares of Monro from a “hold” rating to a “buy” rating in a research note on Friday, January 26th. Oppenheimer reaffirmed a “buy” rating on shares of Monro in a research note on Tuesday, January 30th. Jefferies Group reaffirmed a “hold” rating on shares of Monro in a research note on Wednesday, January 31st. Finally, Zacks Investment Research raised shares of Monro from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research note on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $63.33.
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Monro, Inc, formerly Monro Muffler Brake, Inc, is engaged in the provision of automotive undercar repair and tire services in the United States. The Company provides a range of services on passenger cars, light trucks and vans for brakes; mufflers and exhaust systems, and steering, drive train, suspension and wheel alignment.
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