Eaton Vance Management purchased a new stake in shares of Monro Inc (NASDAQ:MNRO) in the 3rd quarter, HoldingsChannel reports. The firm purchased 116,502 shares of the auto parts company’s stock, valued at approximately $8,109,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of MNRO. BlackRock Inc. boosted its position in Monro by 8.9% during the second quarter. BlackRock Inc. now owns 4,431,997 shares of the auto parts company’s stock valued at $257,500,000 after buying an additional 360,767 shares during the period. Jennison Associates LLC purchased a new stake in Monro during the second quarter valued at about $15,122,000. OppenheimerFunds Inc. boosted its position in Monro by 1,544.7% during the second quarter. OppenheimerFunds Inc. now owns 204,113 shares of the auto parts company’s stock valued at $11,859,000 after buying an additional 191,703 shares during the period. Royce & Associates LP boosted its position in Monro by 74.8% during the second quarter. Royce & Associates LP now owns 417,826 shares of the auto parts company’s stock valued at $24,276,000 after buying an additional 178,860 shares during the period. Finally, Wasatch Advisors Inc. boosted its position in Monro by 4.5% during the third quarter. Wasatch Advisors Inc. now owns 3,557,837 shares of the auto parts company’s stock valued at $247,625,000 after buying an additional 154,406 shares during the period.
In related news, insider Samuel Senuk sold 1,750 shares of the stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $75.95, for a total value of $132,912.50. Following the completion of the transaction, the insider now directly owns 167 shares of the company’s stock, valued at $12,683.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Peter J. Solomon sold 30,000 shares of the stock in a transaction dated Wednesday, November 28th. The stock was sold at an average price of $80.29, for a total transaction of $2,408,700.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,000 shares of company stock valued at $3,462,465. Insiders own 4.60% of the company’s stock.
MNRO has been the subject of several recent analyst reports. Zacks Investment Research raised shares of Monro from a “sell” rating to a “hold” rating and set a $83.00 price objective for the company in a research note on Tuesday, October 30th. BidaskClub downgraded shares of Monro from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, Northcoast Research reaffirmed a “neutral” rating on shares of Monro in a research note on Thursday, September 13th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Monro currently has a consensus rating of “Buy” and an average price target of $70.67.
Shares of NASDAQ:MNRO opened at $82.09 on Friday. The stock has a market cap of $2.68 billion, a PE ratio of 39.47, a PEG ratio of 2.73 and a beta of 0.63. The company has a quick ratio of 0.33, a current ratio of 1.11 and a debt-to-equity ratio of 0.57. Monro Inc has a 12 month low of $50.25 and a 12 month high of $84.38.
Monro (NASDAQ:MNRO) last issued its quarterly earnings data on Thursday, October 25th. The auto parts company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.64 by $0.03. The firm had revenue of $307.11 million during the quarter, compared to the consensus estimate of $298.74 million. Monro had a net margin of 6.09% and a return on equity of 12.21%. On average, equities analysts anticipate that Monro Inc will post 2.38 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Tuesday, December 11th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Monday, December 10th. Monro’s dividend payout ratio (DPR) is 38.46%.
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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.
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