Eaton Vance Management Takes Position in Monro Inc (MNRO)

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%.

TRADEMARK VIOLATION WARNING: “Eaton Vance Management Takes Position in Monro Inc (MNRO)” was first published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2018/12/07/eaton-vance-management-takes-position-in-monro-inc-mnro.html.

Monro 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.

Read More: Why is the Consumer Price Index (CPI) important?

Want to see what other hedge funds are holding MNRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Monro Inc (NASDAQ:MNRO).

Institutional Ownership by Quarter for Monro (NASDAQ:MNRO)

Receive News & Ratings for Monro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monro and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply