Charles Schwab Investment Management Inc. Sells 58,414 Shares of Monro, Inc. (NASDAQ:MNRO)

Charles Schwab Investment Management Inc. lowered its holdings in Monro, Inc. (NASDAQ:MNRO - Free Report) by 14.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 340,718 shares of the auto parts company's stock after selling 58,414 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.14% of Monro worth $8,450,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Blueshift Asset Management LLC bought a new position in Monro in the third quarter worth about $830,000. Empowered Funds LLC bought a new position in shares of Monro in the 4th quarter worth approximately $3,327,000. Intech Investment Management LLC purchased a new position in shares of Monro in the 3rd quarter valued at approximately $1,205,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Monro during the third quarter valued at approximately $515,000. Finally, Pacer Advisors Inc. purchased a new stake in Monro in the fourth quarter worth $28,899,000.

Monro Stock Down 3.4 %

Shares of NASDAQ MNRO traded down $0.58 during trading on Tuesday, reaching $16.12. The company had a trading volume of 270,024 shares, compared to its average volume of 586,823. Monro, Inc. has a 12-month low of $15.75 and a 12-month high of $32.06. The company has a quick ratio of 0.19, a current ratio of 0.54 and a debt-to-equity ratio of 0.45. The business's 50-day moving average is $18.95 and its 200 day moving average is $24.05. The stock has a market cap of $482.63 million, a PE ratio of 25.22, a P/E/G ratio of 2.05 and a beta of 1.09.

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Monro (NASDAQ:MNRO - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The auto parts company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.31 by ($0.12). Monro had a net margin of 1.64% and a return on equity of 3.76%. As a group, equities analysts forecast that Monro, Inc. will post 0.63 earnings per share for the current fiscal year.

Monro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 25th were issued a $0.28 dividend. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.12 dividend on an annualized basis and a yield of 6.95%. Monro's payout ratio is currently 175.00%.

Analysts Set New Price Targets

Several brokerages have commented on MNRO. Wells Fargo & Company lowered their price objective on Monro from $26.00 to $24.00 and set an "equal weight" rating for the company in a research report on Monday, January 27th. Stephens reissued an "equal weight" rating and set a $21.00 price objective on shares of Monro in a research note on Thursday, February 27th. Finally, Wedbush reaffirmed an "outperform" rating and set a $31.00 target price on shares of Monro in a research note on Wednesday, December 18th.

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.