Monro, Inc. Announces Quarterly Dividend of $0.28 (NASDAQ:MNRO)

Monro, Inc. (NASDAQ:MNROGet Rating) announced a quarterly dividend on Tuesday, November 22nd, Zacks reports. Shareholders of record on Tuesday, December 6th will be given a dividend of 0.28 per share by the auto parts company on Tuesday, December 20th. This represents a $1.12 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Monday, December 5th.

Monro has raised its dividend payment by an average of 7.9% per year over the last three years and has raised its dividend every year for the last 15 years. Monro has a payout ratio of 69.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Monro to earn $2.05 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 54.6%.

Monro Price Performance

NASDAQ MNRO opened at $46.31 on Wednesday. The company has a quick ratio of 0.27, a current ratio of 0.63 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $1.46 billion, a PE ratio of 30.87, a price-to-earnings-growth ratio of 1.87 and a beta of 1.05. The company has a 50 day moving average price of $45.62 and a two-hundred day moving average price of $46.08. Monro has a 12-month low of $37.49 and a 12-month high of $61.95.

Insider Activity

In other news, Director John L. Auerbach sold 2,195 shares of Monro stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $47.47, for a total value of $104,196.65. Following the transaction, the director now owns 8,041 shares of the company’s stock, valued at $381,706.27. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 4.50% of the company’s stock.

Hedge Funds Weigh In On Monro

A number of institutional investors and hedge funds have recently bought and sold shares of MNRO. FMR LLC increased its position in Monro by 22.9% during the second quarter. FMR LLC now owns 1,164 shares of the auto parts company’s stock worth $49,000 after acquiring an additional 217 shares during the period. Point72 Hong Kong Ltd bought a new stake in Monro in the 1st quarter valued at $70,000. Captrust Financial Advisors increased its holdings in Monro by 130.3% in the 1st quarter. Captrust Financial Advisors now owns 1,785 shares of the auto parts company’s stock valued at $79,000 after buying an additional 1,010 shares during the period. Tower Research Capital LLC TRC increased its holdings in Monro by 279.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,423 shares of the auto parts company’s stock valued at $149,000 after buying an additional 2,521 shares during the period. Finally, Prelude Capital Management LLC bought a new stake in Monro in the 1st quarter valued at $214,000.

Wall Street Analyst Weigh In

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

Monro Company Profile

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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.

See Also

Dividend History for Monro (NASDAQ:MNRO)

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