Millennium Management LLC Purchases 1,108,292 Shares of Monro, Inc. (NASDAQ:MNRO)

Millennium Management LLC lifted its holdings in Monro, Inc. (NASDAQ:MNRO) by 3,587.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,139,183 shares of the auto parts company’s stock after acquiring an additional 1,108,292 shares during the period. Millennium Management LLC owned approximately 3.81% of Monro worth $27,181,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. William Blair Investment Management LLC raised its stake in Monro by 24.1% in the first quarter. William Blair Investment Management LLC now owns 1,008,786 shares of the auto parts company’s stock valued at $31,817,000 after purchasing an additional 195,955 shares in the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Monro during the 1st quarter worth approximately $4,494,000. Invenomic Capital Management LP acquired a new stake in shares of Monro during the 1st quarter worth approximately $4,348,000. Maverick Capital Ltd. increased its stake in Monro by 720.3% in the second quarter. Maverick Capital Ltd. now owns 121,354 shares of the auto parts company’s stock valued at $2,896,000 after acquiring an additional 106,560 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Monro by 4.9% during the fourth quarter. Wellington Management Group LLP now owns 1,335,544 shares of the auto parts company’s stock valued at $39,185,000 after purchasing an additional 62,148 shares in the last quarter.

Monro Stock Down 2.0 %

NASDAQ MNRO opened at $27.94 on Friday. The business has a fifty day moving average price of $26.84 and a two-hundred day moving average price of $26.55. The stock has a market capitalization of $835.99 million, a PE ratio of 23.68, a PEG ratio of 1.81 and a beta of 1.10. Monro, Inc. has a fifty-two week low of $21.00 and a fifty-two week high of $33.98. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.59 and a quick ratio of 0.25.

Monro (NASDAQ:MNRO) last announced its quarterly earnings results on Wednesday, July 31st. The auto parts company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.21. Monro had a return on equity of 5.90% and a net margin of 2.78%. The company had revenue of $293.20 million during the quarter, compared to analysts’ expectations of $293.70 million. During the same period in the prior year, the company earned $0.31 EPS. Monro’s revenue was down 10.3% compared to the same quarter last year. Equities analysts expect that Monro, Inc. will post 1 earnings per share for the current fiscal year.

Monro Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 27th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 4.01%. The ex-dividend date was Tuesday, August 27th. Monro’s dividend payout ratio is currently 94.92%.

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.