Thrivent Financial for Lutherans Cuts Stake in Monro, Inc. (NASDAQ:MNRO)

Thrivent Financial for Lutherans reduced its stake in Monro, Inc. (NASDAQ:MNRO) by 5.3% during the third quarter, according to its most recent filing with the SEC. The fund owned 23,497 shares of the auto parts company’s stock after selling 1,326 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of Monro worth $678,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MNRO. Tidal Investments LLC purchased a new position in shares of Monro in the 1st quarter worth about $203,000. Simplicity Wealth LLC boosted its holdings in shares of Monro by 28.4% in the 2nd quarter. Simplicity Wealth LLC now owns 97,916 shares of the auto parts company’s stock worth $2,336,000 after buying an additional 21,637 shares during the last quarter. D.B. Root & Company LLC lifted its holdings in Monro by 12.4% during the second quarter. D.B. Root & Company LLC now owns 13,307 shares of the auto parts company’s stock valued at $318,000 after purchasing an additional 1,464 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Monro by 99.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,048 shares of the auto parts company’s stock valued at $25,000 after purchasing an additional 523 shares during the last quarter. Finally, Pullen Investment Management LLC lifted its holdings in Monro by 3.4% during the second quarter. Pullen Investment Management LLC now owns 44,366 shares of the auto parts company’s stock valued at $1,058,000 after purchasing an additional 1,463 shares during the last quarter.

Analysts Set New Price Targets

Separately, Stephens started coverage on shares of Monro in a report on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 price objective on the stock.

Monro Price Performance

NASDAQ MNRO opened at $27.63 on Thursday. The company has a market cap of $827.52 million, a PE ratio of 31.76, a price-to-earnings-growth ratio of 2.27 and a beta of 1.11. Monro, Inc. has a 52 week low of $21.00 and a 52 week high of $33.98. The company has a quick ratio of 0.21, a current ratio of 0.53 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $28.06 and its two-hundred day simple moving average is $26.19.

Monro (NASDAQ:MNRO) last released its quarterly earnings data on Wednesday, October 30th. The auto parts company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.08). The business had revenue of $301.39 million for the quarter, compared to analysts’ expectations of $300.06 million. Monro had a net margin of 2.24% and a return on equity of 4.77%. Monro’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.41 earnings per share. Research analysts predict that Monro, Inc. will post 0.83 earnings per share for the current year.

Monro Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 4.05%. The ex-dividend date of this dividend is Tuesday, December 3rd. Monro’s payout ratio is 128.74%.

Monro Profile

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.