KLP Kapitalforvaltning AS Invests $156,000 in Monro, Inc. (NASDAQ:MNRO)

KLP Kapitalforvaltning AS acquired a new stake in shares of Monro, Inc. (NASDAQ:MNRO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,300 shares of the auto parts company’s stock, valued at approximately $156,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. bought a new position in shares of Monro during the fourth quarter valued at approximately $28,899,000. Wellington Management Group LLP boosted its position in Monro by 20.5% during the third quarter. Wellington Management Group LLP now owns 1,606,868 shares of the auto parts company’s stock valued at $46,374,000 after purchasing an additional 273,265 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Monro in the 4th quarter worth approximately $3,327,000. Victory Capital Management Inc. increased its position in shares of Monro by 1,288.0% during the fourth quarter. Victory Capital Management Inc. now owns 141,121 shares of the auto parts company’s stock worth $3,500,000 after purchasing an additional 130,954 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Monro by 7.7% during the 4th quarter. Bank of New York Mellon Corp now owns 374,466 shares of the auto parts company’s stock valued at $9,287,000 after buying an additional 26,855 shares in the last quarter.

Monro Stock Down 6.9 %

Shares of NASDAQ MNRO opened at $14.46 on Wednesday. Monro, Inc. has a 12-month low of $13.83 and a 12-month high of $31.53. The stock has a market cap of $433.06 million, a P/E ratio of 22.59, a PEG ratio of 2.05 and a beta of 1.09. 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 business’s fifty day simple moving average is $17.41 and its 200-day simple moving average is $23.19.

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

Monro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 25th were given a dividend of $0.28 per share. The ex-dividend date was Tuesday, February 25th. This represents a $1.12 dividend on an annualized basis and a yield of 7.75%. Monro’s payout ratio is 175.00%.

Analyst Ratings Changes

MNRO has been the subject of several research reports. Wells Fargo & Company lowered their price objective on shares of Monro from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Monday, January 27th. Wedbush dropped their price objective on shares of Monro from $27.00 to $19.00 and set an “outperform” rating for the company in a research note on Tuesday, April 1st. Finally, Stephens upgraded Monro from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $21.00 to $18.00 in a research report on Friday, April 4th.

Monro Company 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.