BNP Paribas Financial Markets Sells 25,827 Shares of Monro, Inc. (NASDAQ:MNRO)

BNP Paribas Financial Markets lowered its holdings in shares of Monro, Inc. (NASDAQ:MNRO) by 23.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 85,187 shares of the auto parts company’s stock after selling 25,827 shares during the quarter. BNP Paribas Financial Markets owned about 0.28% of Monro worth $2,458,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Millennium Management LLC raised its holdings in Monro by 3,587.8% during the second quarter. Millennium Management LLC now owns 1,139,183 shares of the auto parts company’s stock valued at $27,181,000 after buying an additional 1,108,292 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Monro by 78.9% in the 2nd quarter. First Eagle Investment Management LLC now owns 254,900 shares of the auto parts company’s stock valued at $6,082,000 after acquiring an additional 112,400 shares in the last quarter. Maverick Capital Ltd. lifted its holdings in Monro by 720.3% in the 2nd quarter. Maverick Capital Ltd. now owns 121,354 shares of the auto parts company’s stock worth $2,896,000 after purchasing an additional 106,560 shares during the last quarter. Landscape Capital Management L.L.C. boosted its position in Monro by 434.7% during the third quarter. Landscape Capital Management L.L.C. now owns 104,550 shares of the auto parts company’s stock worth $3,017,000 after purchasing an additional 84,996 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in Monro by 100.9% during the third quarter. GSA Capital Partners LLP now owns 126,432 shares of the auto parts company’s stock valued at $3,649,000 after purchasing an additional 63,506 shares during the last quarter.

Monro Stock Up 1.2 %

MNRO stock opened at $27.14 on Friday. The stock has a market capitalization of $812.84 million, a price-to-earnings ratio of 31.20, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. The company has a 50-day moving average of $27.98 and a two-hundred day moving average 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 current ratio of 0.53 and a quick ratio of 0.21.

Monro (NASDAQ:MNRO) last released its earnings results on Wednesday, October 30th. The auto parts company reported $0.17 earnings per share (EPS) 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 analyst estimates of $300.06 million. Monro had a net margin of 2.24% and a return on equity of 4.77%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. As a group, equities research analysts anticipate that Monro, Inc. will post 0.83 EPS for the current year.

Monro Announces Dividend

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

Wall Street Analyst Weigh In

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

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.