Invesco Ltd. Buys 10,632 Shares of Monro Inc (NASDAQ:MNRO)

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Invesco Ltd. grew its stake in Monro Inc (NASDAQ:MNRO) by 2.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 414,228 shares of the auto parts company’s stock after purchasing an additional 10,632 shares during the period. Invesco Ltd.’s holdings in Monro were worth $18,148,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in shares of Monro by 41.5% in the first quarter. Wellington Management Group LLP now owns 1,221,995 shares of the auto parts company’s stock worth $53,535,000 after buying an additional 358,420 shares during the period. Norges Bank purchased a new stake in shares of Monro in the fourth quarter worth approximately $27,349,000. Wasatch Advisors Inc. raised its holdings in shares of Monro by 6.7% in the first quarter. Wasatch Advisors Inc. now owns 4,307,327 shares of the auto parts company’s stock worth $188,704,000 after buying an additional 270,007 shares during the period. FDx Advisors Inc. raised its holdings in shares of Monro by 4,081.7% in the first quarter. FDx Advisors Inc. now owns 243,667 shares of the auto parts company’s stock worth $5,445,000 after buying an additional 237,840 shares during the period. Finally, Balyasny Asset Management LLC purchased a new stake in shares of Monro in the first quarter worth approximately $5,157,000.

MNRO opened at $55.16 on Wednesday. The company has a quick ratio of 1.60, a current ratio of 2.34 and a debt-to-equity ratio of 1.41. The company has a market capitalization of $1.84 billion, a P/E ratio of 28.14, a PEG ratio of 3.46 and a beta of 1.12. The stock’s fifty day moving average is $56.12 and its two-hundred day moving average is $59.53. Monro Inc has a 52 week low of $37.09 and a 52 week high of $87.92.

Monro (NASDAQ:MNRO) last announced its earnings results on Thursday, May 28th. The auto parts company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.12). The company had revenue of $286.10 million for the quarter, compared to the consensus estimate of $286.20 million. Monro had a net margin of 4.62% and a return on equity of 9.04%. The firm’s revenue was down .4% compared to the same quarter last year. During the same period last year, the business posted $0.51 EPS. Equities analysts anticipate that Monro Inc will post 1.06 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, June 22nd. Shareholders of record on Monday, June 8th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $0.88 annualized dividend and a yield of 1.60%. Monro’s dividend payout ratio (DPR) is presently 44.00%.

MNRO has been the topic of several recent analyst reports. Oppenheimer reiterated a “hold” rating on shares of Monro in a report on Wednesday, June 17th. BMO Capital Markets reduced their price objective on Monro from $71.00 to $41.00 and set a “market perform” rating on the stock in a report on Monday, April 6th. BidaskClub downgraded Monro from a “hold” rating to a “sell” rating in a report on Thursday, June 25th. Guggenheim downgraded Monro from a “buy” rating to a “neutral” rating in a report on Friday, May 29th. Finally, Zacks Investment Research upgraded Monro from a “strong sell” rating to a “hold” rating in a report on Wednesday, June 10th. One investment analyst has rated the stock with a sell rating and eight have issued a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $69.83.

Monro Company 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.

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Institutional Ownership by Quarter for Monro (NASDAQ:MNRO)

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