Charles Schwab Investment Management Inc. Sells 52,291 Shares of Monro, Inc. (NASDAQ:MNRO)

Charles Schwab Investment Management Inc. reduced its stake in shares of Monro, Inc. (NASDAQ:MNRO) by 11.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 399,132 shares of the auto parts company’s stock after selling 52,291 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.33% of Monro worth $11,519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. increased its position in shares of Monro by 434.7% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 104,550 shares of the auto parts company’s stock valued at $3,017,000 after purchasing an additional 84,996 shares during the last quarter. Intech Investment Management LLC bought a new position in Monro during the third quarter valued at $1,205,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Monro in the third quarter valued at $515,000. GSA Capital Partners LLP lifted its holdings in shares of Monro by 100.9% in the 3rd quarter. GSA Capital Partners LLP now owns 126,432 shares of the auto parts company’s stock worth $3,649,000 after acquiring an additional 63,506 shares during the last quarter. Finally, D.B. Root & Company LLC boosted its stake in shares of Monro by 7.0% during the 3rd quarter. D.B. Root & Company LLC now owns 14,234 shares of the auto parts company’s stock worth $411,000 after purchasing an additional 927 shares during the period.

Monro Price Performance

Shares of MNRO stock opened at $27.14 on Monday. The stock has a 50 day moving average price of $27.98 and a 200 day moving average price of $26.19. Monro, Inc. has a 52-week low of $21.00 and a 52-week high of $33.98. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.21 and a current ratio of 0.53. The firm has a market capitalization of $812.82 million, a P/E ratio of 31.20, a P/E/G ratio of 2.21 and a beta of 1.11.

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

Monro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be paid a $0.28 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $1.12 dividend on an annualized basis and a yield of 4.13%. Monro’s dividend payout ratio is currently 128.74%.

Wall Street Analysts Forecast Growth

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