UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Raises Position in Monro, Inc. (NASDAQ:MNRO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Monro, Inc. (NASDAQ:MNRO) by 19.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 59,533 shares of the auto parts company’s stock after purchasing an additional 9,839 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.20% of Monro worth $1,718,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Millennium Management LLC raised its stake in Monro by 3,587.8% in the 2nd quarter. Millennium Management LLC now owns 1,139,183 shares of the auto parts company’s stock worth $27,181,000 after acquiring an additional 1,108,292 shares during the last quarter. First Eagle Investment Management LLC raised its stake in 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 worth $6,082,000 after acquiring an additional 112,400 shares during the last quarter. Renaissance Technologies LLC raised its stake in Monro by 14.1% in the 2nd quarter. Renaissance Technologies LLC now owns 141,979 shares of the auto parts company’s stock worth $3,388,000 after acquiring an additional 17,500 shares during the last quarter. GSA Capital Partners LLP raised its stake in 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, Maverick Capital Ltd. raised its stake 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 acquiring an additional 106,560 shares during the last quarter.

Monro Stock Performance

Shares of MNRO stock opened at $26.01 on Tuesday. The firm has a market capitalization of $778.97 million, a price-to-earnings ratio of 29.83, a price-to-earnings-growth ratio of 2.20 and a beta of 1.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.53 and a quick ratio of 0.21. The business has a fifty day moving average of $27.84 and a 200 day moving average of $26.33. Monro, Inc. has a 1 year low of $21.00 and a 1 year high of $33.98.

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

Monro Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Tuesday, December 3rd will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Tuesday, December 3rd. Monro’s dividend payout ratio is currently 128.74%.

Analyst Upgrades and Downgrades

Separately, Stephens assumed coverage on Monro in a research note on Tuesday, October 15th. They issued an “equal weight” rating and a $31.00 target price 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.