Oppenheimer Asset Management Inc. reduced its stake in Monro, Inc. (NASDAQ:MNRO – Get Rating) by 11.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,014 shares of the auto parts company's stock after selling 2,568 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.06% of Monro worth $843,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of MNRO. Westwood Holdings Group Inc. increased its holdings in shares of Monro by 28.6% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,123,582 shares of the auto parts company's stock valued at $65,471,000 after purchasing an additional 250,115 shares in the last quarter. abrdn plc purchased a new position in shares of Monro during the 1st quarter valued at approximately $8,505,000. Atlanta Capital Management Co. L L C grew its stake in Monro by 16.1% in the 4th quarter. Atlanta Capital Management Co. L L C now owns 607,236 shares of the auto parts company's stock valued at $35,384,000 after acquiring an additional 84,169 shares during the period. Victory Capital Management Inc. grew its stake in Monro by 73.1% in the 1st quarter. Victory Capital Management Inc. now owns 195,606 shares of the auto parts company's stock valued at $8,945,000 after acquiring an additional 82,621 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Monro by 220.3% in the 4th quarter. Renaissance Technologies LLC now owns 109,803 shares of the auto parts company's stock valued at $6,398,000 after acquiring an additional 75,524 shares during the period.
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Insider Transactions at Monro
In other news, Director Leah C. Johnson sold 750 shares of Monro stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $49.92, for a total transaction of $37,440.00. Following the transaction, the director now owns 4,176 shares in the company, valued at approximately $208,465.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.50% of the company's stock.
Monro Stock Down 0.2 %
NASDAQ MNRO opened at $46.16 on Friday. Monro, Inc. has a 52 week low of $37.49 and a 52 week high of $64.71. The company has a quick ratio of 0.32, a current ratio of 0.67 and a debt-to-equity ratio of 0.58. The business's fifty day simple moving average is $47.87 and its 200-day simple moving average is $45.95. The firm has a market cap of $1.49 billion, a PE ratio of 26.84, a P/E/G ratio of 1.83 and a beta of 1.06.
Monro Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 22nd. This represents a $1.12 annualized dividend and a dividend yield of 2.43%. Monro's dividend payout ratio is presently 65.12%.
Analyst Ratings Changes
MNRO has been the topic of several recent research reports. BMO Capital Markets lowered their target price on shares of Monro from $65.00 to $47.00 in a research note on Friday, May 20th. StockNews.com cut shares of Monro from a "buy" rating to a "hold" rating in a research note on Monday, May 23rd.
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.
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