Intech Investment Management LLC Invests $1.21 Million in Monro, Inc. (NASDAQ:MNRO)

Intech Investment Management LLC bought a new stake in shares of Monro, Inc. (NASDAQ:MNRO) in the third quarter, Holdings Channel reports. The fund bought 41,755 shares of the auto parts company’s stock, valued at approximately $1,205,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Millennium Management LLC raised its stake in shares of Monro by 3,587.8% during the 2nd quarter. Millennium Management LLC now owns 1,139,183 shares of the auto parts company’s stock valued at $27,181,000 after buying an additional 1,108,292 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in Monro by 78.9% during the second quarter. First Eagle Investment Management LLC now owns 254,900 shares of the auto parts company’s stock worth $6,082,000 after acquiring an additional 112,400 shares during the period. Maverick Capital Ltd. raised its position in Monro by 720.3% during the second quarter. Maverick Capital Ltd. now owns 121,354 shares of the auto parts company’s stock valued at $2,896,000 after acquiring an additional 106,560 shares in the last quarter. GSA Capital Partners LLP lifted its holdings in Monro by 100.9% in the third quarter. GSA Capital Partners LLP now owns 126,432 shares of the auto parts company’s stock valued at $3,649,000 after acquiring an additional 63,506 shares during the period. Finally, Federated Hermes Inc. boosted its position in Monro by 8,488.5% in the 2nd quarter. Federated Hermes Inc. now owns 54,623 shares of the auto parts company’s stock worth $1,303,000 after purchasing an additional 53,987 shares in the last quarter.

Monro Trading Down 1.9 %

MNRO stock opened at $27.73 on Wednesday. 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. The firm has a market cap of $830.49 million, a P/E ratio of 31.87, a PEG ratio of 2.16 and a beta of 1.11. The company’s 50-day simple moving average is $27.97 and its 200-day simple moving average is $26.15.

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

Monro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be given a $0.28 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.12 annualized dividend and a dividend yield of 4.04%. Monro’s dividend payout ratio (DPR) is 128.74%.

Analyst Upgrades and Downgrades

Separately, Stephens assumed coverage on shares of Monro in a research note on Tuesday, October 15th. They issued an “equal weight” rating and a $31.00 target price for the company.

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.