Empowered Funds LLC Takes $3.33 Million Position in Monro, Inc. (NASDAQ:MNRO)

Empowered Funds LLC bought a new stake in Monro, Inc. (NASDAQ:MNRO) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 134,171 shares of the auto parts company’s stock, valued at approximately $3,327,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in MNRO. Quarry LP increased its stake in shares of Monro by 30.2% in the 3rd quarter. Quarry LP now owns 2,666 shares of the auto parts company’s stock valued at $77,000 after buying an additional 619 shares during the period. XTX Topco Ltd acquired a new stake in shares of Monro in the 3rd quarter valued at $213,000. Bleakley Financial Group LLC increased its stake in shares of Monro by 17.9% in the 4th quarter. Bleakley Financial Group LLC now owns 9,939 shares of the auto parts company’s stock valued at $246,000 after buying an additional 1,506 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Monro by 4.1% during the second quarter. The Manufacturers Life Insurance Company now owns 11,701 shares of the auto parts company’s stock worth $279,000 after purchasing an additional 458 shares during the period. Finally, Arete Wealth Advisors LLC acquired a new stake in shares of Monro during the third quarter worth $287,000.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MNRO shares. Wedbush reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Monro in a research note on Wednesday, December 18th. Wells Fargo & Company decreased their price objective on Monro from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th.

Monro Stock Performance

MNRO stock opened at $19.11 on Thursday. The business’s 50-day moving average price is $23.22 and its two-hundred day moving average price is $25.92. The company has a current ratio of 0.54, a quick ratio of 0.19 and a debt-to-equity ratio of 0.45. The firm has a market cap of $572.34 million, a PE ratio of 29.86, a P/E/G ratio of 2.11 and a beta of 1.08. Monro, Inc. has a 1-year low of $18.29 and a 1-year high of $33.98.

Monro (NASDAQ:MNRO) last posted its earnings results on Wednesday, January 29th. The auto parts company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.31 by ($0.12). Monro had a return on equity of 3.76% and a net margin of 1.64%. As a group, research analysts forecast that Monro, Inc. will post 0.63 earnings per share for the current year.

Monro Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd were issued a dividend of $0.28 per share. The ex-dividend date was Tuesday, December 3rd. This represents a $1.12 annualized dividend and a yield of 5.86%. Monro’s dividend payout ratio is presently 175.00%.

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.