State of New Jersey Common Pension Fund D grew its holdings in shares of Monro, Inc. (NASDAQ:MNRO – Get Rating) by 19.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,653 shares of the auto parts company’s stock after buying an additional 8,928 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.17% of Monro worth $2,468,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Vectors Research Management LLC bought a new position in Monro during the 4th quarter valued at about $42,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Monro by 54.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,517 shares of the auto parts company’s stock valued at $263,000 after purchasing an additional 1,592 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in Monro by 5.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 4,834 shares of the auto parts company’s stock valued at $214,000 after purchasing an additional 252 shares during the last quarter. Personal CFO Solutions LLC grew its holdings in Monro by 4.6% during the 1st quarter. Personal CFO Solutions LLC now owns 4,894 shares of the auto parts company’s stock valued at $217,000 after purchasing an additional 216 shares during the last quarter. Finally, Inspire Investing LLC bought a new position in Monro during the 1st quarter valued at about $237,000.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on the stock. StockNews.com downgraded shares of Monro from a “buy” rating to a “hold” rating in a report on Monday, May 23rd. BMO Capital Markets cut their price target on shares of Monro from $65.00 to $47.00 in a report on Friday, May 20th.
Monro Trading Up 1.3 %
Monro (NASDAQ:MNRO – Get Rating) last issued its earnings results on Thursday, May 19th. The auto parts company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.26). The firm had revenue of $328.00 million for the quarter, compared to the consensus estimate of $328.18 million. Monro had a net margin of 4.27% and a return on equity of 7.53%. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $0.38 earnings per share. Analysts expect that Monro, Inc. will post 1.72 earnings per share for the current fiscal year.
Monro Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 20th. Shareholders of record on Monday, June 6th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, June 3rd. This is a positive change from Monro’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 2.21%. Monro’s payout ratio is 65.12%.
Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. It offers replacement tires and tire related services; routine maintenance services on passenger cars, light trucks, and vans; products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment.
- Get a free copy of the StockNews.com research report on Monro (MNRO)
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