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Monro, Inc. (NASDAQ:MNRO) Stake Lowered by Principal Financial Group Inc.

Defense World · Aug 25, 2022 05:21

Principal Financial Group Inc. cut its stake in shares of Monro, Inc. (NASDAQ:MNRO – Get Rating) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 236,655 shares of the auto parts company's stock after selling 6,995 shares during the quarter. Principal Financial Group Inc. owned approximately 0.71% of Monro worth $10,493,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Westwood Holdings Group Inc. grew its holdings in Monro by 28.6% in the 4th quarter. Westwood Holdings Group Inc. now owns 1,123,582 shares of the auto parts company's stock worth $65,471,000 after buying an additional 250,115 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Monro by 4.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 975,918 shares of the auto parts company's stock worth $56,867,000 after buying an additional 45,634 shares in the last quarter. Copeland Capital Management LLC grew its holdings in Monro by 3.8% in the 1st quarter. Copeland Capital Management LLC now owns 946,994 shares of the auto parts company's stock worth $41,989,000 after buying an additional 34,602 shares in the last quarter. Invesco Ltd. grew its holdings in Monro by 7.7% in the 4th quarter. Invesco Ltd. now owns 872,913 shares of the auto parts company's stock worth $50,865,000 after buying an additional 62,437 shares in the last quarter. Finally, Atlanta Capital Management Co. L L C grew its holdings 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 worth $35,384,000 after buying an additional 84,169 shares in the last quarter.

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Analyst Ratings Changes

A number of equities analysts recently issued reports on MNRO shares. BMO Capital Markets decreased their price objective on Monro from $65.00 to $47.00 in a report on Friday, May 20th. StockNews.com downgraded Monro from a "buy" rating to a "hold" rating in a research report on Monday, May 23rd.

Insider Activity

In other news, Director Leah C. Johnson sold 750 shares of the 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 completion of the sale, the director now owns 4,176 shares in the company, valued at approximately $208,465.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 4.50% of the company's stock.

Monro Stock Performance

MNRO opened at $47.55 on Thursday. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 27.65, a price-to-earnings-growth ratio of 1.92 and a beta of 1.06. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.67 and a quick ratio of 0.32. Monro, Inc. has a 1-year low of $37.49 and a 1-year high of $64.71. The business has a 50 day moving average price of $47.20 and a two-hundred day moving average price of $45.87.

Monro Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 22nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.36%. Monro's dividend payout ratio (DPR) is presently 65.12%.

Monro 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.