Scout Investments Inc. lowered its stake in Monro Inc (NASDAQ:MNRO) by 3.0% in the 1st quarter, HoldingsChannel reports. The fund owned 103,957 shares of the auto parts company’s stock after selling 3,257 shares during the quarter. Scout Investments Inc.’s holdings in Monro were worth $8,994,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. MetLife Investment Advisors LLC increased its stake in shares of Monro by 43.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 21,575 shares of the auto parts company’s stock valued at $1,502,000 after acquiring an additional 6,505 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in shares of Monro by 371.1% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,496 shares of the auto parts company’s stock valued at $722,000 after acquiring an additional 8,268 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Monro by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 23,579 shares of the auto parts company’s stock valued at $1,621,000 after acquiring an additional 518 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Monro by 1.9% during the 4th quarter. State of Alaska Department of Revenue now owns 11,031 shares of the auto parts company’s stock valued at $758,000 after purchasing an additional 210 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in Monro by 6.5% during the 4th quarter. Arizona State Retirement System now owns 50,800 shares of the auto parts company’s stock valued at $3,493,000 after purchasing an additional 3,094 shares in the last quarter.
In other news, Director Donald Glickman sold 10,000 shares of the company’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $78.16, for a total value of $781,600.00. Following the completion of the sale, the director now owns 181,078 shares in the company, valued at approximately $14,153,056.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Maureen Mulholland sold 1,000 shares of the company’s stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $79.60, for a total transaction of $79,600.00. Following the completion of the sale, the insider now owns 200 shares of the company’s stock, valued at approximately $15,920. The disclosure for this sale can be found here. Insiders have sold a total of 21,000 shares of company stock valued at $1,637,300 in the last 90 days. 4.60% of the stock is currently owned by company insiders.
Monro (NASDAQ:MNRO) last announced its quarterly earnings results on Thursday, January 31st. The auto parts company reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. The business had revenue of $310.11 million during the quarter, compared to analyst estimates of $309.89 million. Monro had a net margin of 6.71% and a return on equity of 12.47%. Analysts forecast that Monro Inc will post 2.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 15th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.80 dividend on an annualized basis and a yield of 0.95%. Monro’s dividend payout ratio (DPR) is presently 38.46%.
A number of analysts have commented on MNRO shares. Guggenheim lowered shares of Monro from a “buy” rating to a “neutral” rating and set a $82.89 price target for the company. in a research note on Thursday, April 4th. They noted that the move was a valuation call. BidaskClub upgraded shares of Monro from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Finally, Zacks Investment Research lowered shares of Monro from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $81.95.
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Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. The company offers range of services on passenger cars, light trucks, and vans for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment. It also provides other products and services, including tires and routine maintenance services, including state inspections.
Further Reading: Strike Price
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