Creative Planning Sells 7,986 Shares of Monro, Inc. (NASDAQ:MNRO)

Creative Planning lowered its stake in shares of Monro, Inc. (NASDAQ:MNRO) by 40.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,999 shares of the auto parts company’s stock after selling 7,986 shares during the quarter. Creative Planning’s holdings in Monro were worth $286,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MNRO. The Manufacturers Life Insurance Company grew its position in shares of Monro by 4.1% in the second quarter. The Manufacturers Life Insurance Company now owns 11,701 shares of the auto parts company’s stock valued at $279,000 after purchasing an additional 458 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Monro by 99.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,048 shares of the auto parts company’s stock valued at $25,000 after buying an additional 523 shares during the last quarter. Wasatch Advisors LP increased its position in Monro by 3.0% in the 1st quarter. Wasatch Advisors LP now owns 20,958 shares of the auto parts company’s stock worth $661,000 after buying an additional 615 shares during the period. EntryPoint Capital LLC lifted its holdings in shares of Monro by 33.9% during the first quarter. EntryPoint Capital LLC now owns 3,169 shares of the auto parts company’s stock worth $100,000 after buying an additional 802 shares during the last quarter. Finally, Headlands Technologies LLC boosted its position in shares of Monro by 32.5% in the first quarter. Headlands Technologies LLC now owns 3,675 shares of the auto parts company’s stock valued at $116,000 after acquiring an additional 902 shares during the period.

Monro Price Performance

Shares of NASDAQ:MNRO opened at $27.97 on Friday. The firm has a market capitalization of $836.89 million, a PE ratio of 23.70, a PEG ratio of 1.83 and a beta of 1.11. The company has a current ratio of 0.59, a quick ratio of 0.25 and a debt-to-equity ratio of 0.55. Monro, Inc. has a 1-year low of $21.00 and a 1-year high of $33.98. The business’s 50 day moving average is $26.93 and its 200-day moving average is $26.32.

Monro (NASDAQ:MNRO) last posted its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.21. Monro had a net margin of 2.78% and a return on equity of 5.90%. The firm had revenue of $293.20 million for the quarter, compared to the consensus estimate of $293.70 million. During the same quarter in the previous year, the company earned $0.31 earnings per share. The business’s revenue was down 10.3% compared to the same quarter last year. Sell-side analysts predict that Monro, Inc. will post 1 earnings per share for the current year.

Monro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend was Tuesday, August 27th. Monro’s dividend payout ratio (DPR) is presently 94.92%.

Analysts Set New Price Targets

Separately, Stephens initiated coverage on shares of Monro in a research report on Tuesday. They set an “equal weight” rating and a $31.00 target price on the stock.

About Monro

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. It offers replacement tires and tire related services, automotive undercar repair services, and routine maintenance services primarily to passenger cars, light trucks, and vans. The company also provides other products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment.