Bank of New York Mellon Corp lessened its position in shares of Monro, Inc. (NASDAQ:MNRO - Free Report) by 6.3% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 381,925 shares of the auto parts company's stock after selling 25,829 shares during the quarter. Bank of New York Mellon Corp owned about 1.28% of Monro worth $9,113,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in MNRO. Nisa Investment Advisors LLC grew its stake in Monro by 99.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,048 shares of the auto parts company's stock worth $25,000 after buying an additional 523 shares during the last quarter. Quest Partners LLC acquired a new stake in Monro during the 4th quarter worth approximately $37,000. TFO Wealth Partners LLC lifted its position in Monro by 129,700.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,298 shares of the auto parts company's stock worth $38,000 after acquiring an additional 1,297 shares during the period. PNC Financial Services Group Inc. lifted its position in Monro by 289.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,309 shares of the auto parts company's stock worth $97,000 after acquiring an additional 2,460 shares during the period. Finally, EntryPoint Capital LLC lifted its position in Monro by 33.9% during the 1st quarter. EntryPoint Capital LLC now owns 3,169 shares of the auto parts company's stock worth $100,000 after acquiring an additional 802 shares during the period.
Monro Stock Performance
Monro stock traded up $0.27 during mid-day trading on Tuesday, reaching $25.04. 285,990 shares of the company were exchanged, compared to its average volume of 519,276. Monro, Inc. has a twelve month low of $21.00 and a twelve month high of $33.98. The firm's 50-day simple moving average is $25.58 and its two-hundred day simple moving average is $27.06. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.25 and a current ratio of 0.59. The firm has a market cap of $749.20 million, a PE ratio of 21.09, a price-to-earnings-growth ratio of 1.69 and a beta of 1.11.
Monro (NASDAQ:MNRO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The auto parts company reported $0.22 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.21. Monro had a return on equity of 5.90% and a net margin of 2.78%. The company had revenue of $293.20 million during the quarter, compared to analysts' expectations of $293.70 million. During the same period last year, the firm earned $0.31 EPS. The firm's revenue for the quarter was down 10.3% on a year-over-year basis. Equities analysts predict that Monro, Inc. will post 1 earnings per share for the current fiscal year.
Monro Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.47%. Monro's dividend payout ratio (DPR) is presently 94.92%.
About Monro
(Free Report)
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.
Further Reading
- Five stocks we like better than Monro
- Business Services Stocks Investing
- Matador Resources Insiders Keep Buying Its Stock, Should You?
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- Oracle Can Turn the Magnificent 7 Into 8: Here's Why
- 3 Best Fintech Stocks for a Portfolio Boost
→ ONE AI Stock is All You Need... (From Behind the Markets) (Ad)
Should you invest $1,000 in Monro right now?
Before you consider Monro, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Monro wasn't on the list.
While Monro currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
A Guide To High-Short-Interest Stocks
MarketBeat's analysts have just released their top five short plays for September 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
Get This Free Report
