Adage Capital Partners GP L.L.C. Increases Stock Holdings in Monro, Inc. (NASDAQ:MNRO)

Adage Capital Partners GP L.L.C. increased its stake in shares of Monro, Inc. (NASDAQ:MNRO - Free Report) by 34.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,193,289 shares of the auto parts company's stock after purchasing an additional 302,515 shares during the period. Adage Capital Partners GP L.L.C. owned 3.98% of Monro worth $29,594,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Empowered Funds LLC acquired a new position in shares of Monro during the fourth quarter valued at approximately $3,327,000. Dynamic Technology Lab Private Ltd acquired a new position in Monro in the 4th quarter valued at $1,207,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Monro by 51.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 92,558 shares of the auto parts company's stock worth $2,295,000 after buying an additional 31,340 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Monro by 68.3% during the 4th quarter. JPMorgan Chase & Co. now owns 152,710 shares of the auto parts company's stock worth $3,787,000 after purchasing an additional 61,988 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in shares of Monro in the fourth quarter valued at approximately $28,899,000.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wells Fargo & Company dropped their target price on Monro from $20.00 to $15.00 and set an "equal weight" rating for the company in a report on Monday. 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 report on Tuesday, April 1st. Finally, Stephens upgraded shares of Monro from an "equal weight" rating to an "overweight" rating and decreased their target price for the company from $21.00 to $18.00 in a report on Friday, April 4th.

Monro Trading Down 1.9 %

MNRO stock traded down $0.27 during mid-day trading on Tuesday, hitting $14.20. 570,204 shares of the company were exchanged, compared to its average volume of 676,766. Monro, Inc. has a 12-month low of $13.50 and a 12-month high of $31.49. The firm has a market capitalization of $425.28 million, a P/E ratio of 22.19, a PEG ratio of 2.05 and a beta of 1.09. The business has a fifty day simple moving average of $15.95 and a 200-day simple moving average of $21.77. The company has a quick ratio of 0.19, a current ratio of 0.54 and a debt-to-equity ratio of 0.45.

Monro Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors 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 dividend yield of 7.89%. Monro's payout ratio is currently 175.00%.

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.