Monro Inc (NASDAQ:MNRO) announced a quarterly dividend on Tuesday, August 13th, Fidelity reports. Shareholders of record on Monday, August 26th will be given a dividend of 0.22 per share by the auto parts company on Monday, September 9th. This represents a $0.88 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Friday, August 23rd. This is a positive change from Monro’s previous quarterly dividend of $0.11.
Monro has increased its dividend by an average of 10.4% per year over the last three years and has increased its dividend every year for the last 10 years. Monro has a payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Monro to earn $3.00 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 29.3%.
MNRO traded up $0.44 during trading on Wednesday, reaching $77.19. 1,043 shares of the stock were exchanged, compared to its average volume of 393,274. The stock has a market cap of $2.62 billion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 2.30 and a beta of 0.76. Monro has a twelve month low of $60.78 and a twelve month high of $89.72. The stock’s 50 day moving average price is $82.38 and its two-hundred day moving average price is $81.59. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.28 and a current ratio of 0.93.
In related news, insider Maureen Mulholland sold 500 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $84.40, for a total transaction of $42,200.00. Following the transaction, the insider now directly owns 574 shares in the company, valued at approximately $48,445.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Donald Glickman sold 2,500 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $86.14, for a total value of $215,350.00. Following the transaction, the director now owns 173,578 shares in the company, valued at $14,952,008.92. The disclosure for this sale can be found here. Insiders sold 13,500 shares of company stock valued at $1,152,285 in the last three months. Company insiders own 4.40% of the company’s stock.
Several research analysts have weighed in on MNRO shares. CL King reiterated a “hold” rating on shares of Monro in a research note on Wednesday, May 22nd. Oppenheimer cut shares of Monro from an “outperform” rating to a “market perform” rating and set a $86.00 target price for the company. in a research report on Thursday, July 11th. SunTrust Banks boosted their target price on shares of Monro to $85.00 and gave the company a “hold” rating in a research report on Wednesday, May 22nd. They noted that the move was a valuation call. CIBC reissued a “market perform” rating on shares of Monro in a research report on Thursday, July 11th. Finally, Zacks Investment Research cut shares of Monro from a “buy” rating to a “hold” rating in a research report on Friday, May 24th. Nine analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and a consensus price target of $86.78.
Monro Company Profile
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.
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