Wasatch Advisors LP Sells 8,540 Shares of Monro, Inc. (NASDAQ:MNRO)

Wasatch Advisors LP cut its position in Monro, Inc. (NASDAQ:MNRO) by 19.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,140 shares of the auto parts company’s stock after selling 8,540 shares during the quarter. Wasatch Advisors LP owned approximately 0.12% of Monro worth $1,014,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MNRO. Nisa Investment Advisors LLC grew its stake in shares of Monro by 99.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,048 shares of the auto parts company’s stock worth $25,000 after acquiring an additional 523 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Monro during the second quarter worth about $38,000. Quarry LP grew its stake in shares of Monro by 361.0% during the second quarter. Quarry LP now owns 2,047 shares of the auto parts company’s stock worth $49,000 after acquiring an additional 1,603 shares during the last quarter. Tidal Investments LLC purchased a new stake in shares of Monro during the first quarter worth about $203,000. Finally, Johnson Investment Counsel Inc. grew its stake in shares of Monro by 47.2% during the second quarter. Johnson Investment Counsel Inc. now owns 9,360 shares of the auto parts company’s stock worth $223,000 after acquiring an additional 3,000 shares during the last quarter.

Monro Price Performance

Shares of NASDAQ MNRO opened at $28.12 on Monday. The business’s 50 day moving average price is $28.06 and its 200 day moving average price is $26.16. The firm has a market cap of $842.19 million, a P/E ratio of 32.32, a P/E/G ratio of 2.25 and a beta of 1.11. Monro, Inc. has a 52 week low of $21.00 and a 52 week high of $33.98. The company has a quick ratio of 0.21, a current ratio of 0.53 and a debt-to-equity ratio of 0.47.

Monro (NASDAQ:MNRO) last issued its earnings results 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). The firm had revenue of $301.39 million during the quarter, compared to analysts’ expectations of $300.06 million. Monro had a net margin of 2.24% and a return on equity of 4.77%. Monro’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. On average, sell-side analysts expect that Monro, Inc. will post 0.83 earnings per share for the current year.

Monro Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Tuesday, December 3rd will be given a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 3.98%. Monro’s dividend payout ratio is currently 128.74%.

Wall Street Analysts Forecast Growth

Separately, Stephens began coverage on Monro in a research note on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 price target on the stock.

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.