Raymond James & Associates Sells 27,204 Shares of Monro, Inc. (NASDAQ:MNRO)

Raymond James & Associates trimmed its position in Monro, Inc. (NASDAQ:MNROGet Rating) by 32.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,754 shares of the auto parts company’s stock after selling 27,204 shares during the quarter. Raymond James & Associates’ holdings in Monro were worth $2,423,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA acquired a new position in shares of Monro during the second quarter worth $26,624,000. abrdn plc lifted its holdings in Monro by 251.9% in the second quarter. abrdn plc now owns 675,135 shares of the auto parts company’s stock valued at $28,950,000 after buying an additional 483,304 shares during the period. Wellington Management Group LLP lifted its holdings in Monro by 35.5% in the first quarter. Wellington Management Group LLP now owns 1,094,229 shares of the auto parts company’s stock valued at $48,519,000 after buying an additional 286,762 shares during the period. Renaissance Technologies LLC lifted its holdings in Monro by 232.1% in the first quarter. Renaissance Technologies LLC now owns 364,679 shares of the auto parts company’s stock valued at $16,170,000 after buying an additional 254,876 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Monro by 70.9% in the second quarter. Russell Investments Group Ltd. now owns 470,649 shares of the auto parts company’s stock valued at $20,179,000 after buying an additional 195,259 shares during the period.

Analyst Upgrades and Downgrades

Separately, StockNews.com began coverage on shares of Monro in a report on Wednesday, October 12th. They set a “hold” rating on the stock.

Monro Price Performance

Shares of NASDAQ MNRO opened at $46.89 on Friday. The firm’s 50-day moving average price is $46.30 and its 200-day moving average price is $46.80. Monro, Inc. has a 1-year low of $37.49 and a 1-year high of $59.24. The firm has a market capitalization of $1.47 billion, a P/E ratio of 31.26, a P/E/G ratio of 2.01 and a beta of 0.99. The company has a current ratio of 0.63, a quick ratio of 0.27 and a debt-to-equity ratio of 0.62.

Monro (NASDAQ:MNROGet Rating) last posted its earnings results on Wednesday, October 26th. The auto parts company reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. The company had revenue of $329.82 million during the quarter, compared to the consensus estimate of $356.73 million. Monro had a net margin of 3.74% and a return on equity of 6.74%. Equities research analysts anticipate that Monro, Inc. will post 1.61 earnings per share for the current fiscal year.

Monro Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 20th. Shareholders of record on Tuesday, December 6th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Monday, December 5th. Monro’s payout ratio is 74.67%.

Insiders Place Their Bets

In other news, Director John L. Auerbach sold 2,195 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $47.47, for a total transaction of $104,196.65. Following the completion of the transaction, the director now directly owns 8,041 shares of the company’s stock, valued at approximately $381,706.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.50% of the stock is currently owned by insiders.

About Monro

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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.

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Institutional Ownership by Quarter for Monro (NASDAQ:MNRO)

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