Healthcare of Ontario Pension Plan Trust Fund Cuts Stock Position in Monro, Inc. (NASDAQ:MNRO)

Healthcare of Ontario Pension Plan Trust Fund cut its holdings in Monro, Inc. (NASDAQ:MNRO) by 40.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,200 shares of the auto parts company’s stock after selling 6,800 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Monro were worth $294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blueshift Asset Management LLC purchased a new position in shares of Monro in the third quarter worth $830,000. Cerity Partners LLC lifted its stake in Monro by 2.4% in the 3rd quarter. Cerity Partners LLC now owns 84,769 shares of the auto parts company’s stock worth $2,446,000 after purchasing an additional 2,023 shares in the last quarter. Landscape Capital Management L.L.C. boosted its holdings 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 purchased a new position in shares of Monro during the third quarter valued at about $1,205,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Monro in the third quarter worth about $515,000.

Analyst Upgrades and Downgrades

Separately, Stephens started coverage on Monro in a research report on Tuesday, October 15th. They set an “equal weight” rating and a $31.00 target price for the company.

Monro Stock Up 0.8 %

Shares of MNRO opened at $28.34 on Tuesday. 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 business has a fifty day moving average of $28.09 and a 200 day moving average of $26.17. The company has a market cap of $848.78 million, a PE ratio of 32.57, a P/E/G ratio of 2.25 and a beta of 1.11. Monro, Inc. has a 52-week low of $21.00 and a 52-week high of $33.98.

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

Monro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Tuesday, December 3rd. Monro’s dividend payout ratio is presently 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.