Granite Investment Partners LLC Raises Stake in Monro Inc (NASDAQ:MNRO)

Granite Investment Partners LLC lifted its position in shares of Monro Inc (NASDAQ:MNRO) by 20.0% in the first quarter, HoldingsChannel.com reports. The firm owned 20,704 shares of the auto parts company’s stock after purchasing an additional 3,454 shares during the period. Granite Investment Partners LLC’s holdings in Monro were worth $1,791,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans grew its holdings in shares of Monro by 2.2% during the 4th quarter. Thrivent Financial for Lutherans now owns 23,579 shares of the auto parts company’s stock worth $1,621,000 after purchasing an additional 518 shares during the period. Metropolitan Life Insurance Co. NY grew its holdings in shares of Monro by 371.1% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 10,496 shares of the auto parts company’s stock worth $722,000 after purchasing an additional 8,268 shares during the period. Summit Creek Advisors LLC grew its holdings in shares of Monro by 18.1% during the 1st quarter. Summit Creek Advisors LLC now owns 204,951 shares of the auto parts company’s stock worth $17,732,000 after purchasing an additional 31,460 shares during the period. BB&T Securities LLC grew its holdings in shares of Monro by 45.9% during the 4th quarter. BB&T Securities LLC now owns 9,097 shares of the auto parts company’s stock worth $625,000 after purchasing an additional 2,861 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new stake in shares of Monro during the 4th quarter worth about $1,277,000.

A number of analysts have recently issued reports on MNRO shares. BidaskClub upgraded Monro from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Guggenheim cut Monro from a “buy” rating to a “neutral” rating and set a $82.89 target price for the company. in a report on Thursday, April 4th. They noted that the move was a valuation call. Zacks Investment Research cut Monro from a “buy” rating to a “hold” rating in a report on Thursday, April 11th. SunTrust Banks boosted their target price on Monro to $85.00 and gave the stock a “hold” rating in a report on Wednesday, May 22nd. They noted that the move was a valuation call. Finally, CL King reiterated a “hold” rating on shares of Monro in a report on Wednesday, May 22nd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $85.96.

NASDAQ MNRO traded down $1.15 on Wednesday, reaching $85.99. The company had a trading volume of 4,079 shares, compared to its average volume of 326,870. The stock has a market cap of $2.93 billion, a PE ratio of 36.38, a P/E/G ratio of 2.54 and a beta of 0.76. Monro Inc has a 1 year low of $57.40 and a 1 year high of $89.72. The company has a quick ratio of 0.32, a current ratio of 1.10 and a debt-to-equity ratio of 0.54.

Monro (NASDAQ:MNRO) last released its quarterly earnings results on Tuesday, May 21st. The auto parts company reported $0.51 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.51. The firm had revenue of $287.20 million during the quarter, compared to analysts’ expectations of $292.07 million. Monro had a return on equity of 12.10% and a net margin of 6.64%. Monro’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. Sell-side analysts anticipate that Monro Inc will post 2.68 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Friday, May 31st. This is a boost from Monro’s previous quarterly dividend of $0.20. Monro’s dividend payout ratio is currently 36.97%.

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About Monro

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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Institutional Ownership by Quarter for Monro (NASDAQ:MNRO)

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