JPMorgan Chase & Co. Grows Stake in Monro, Inc. (NASDAQ:MNRO)

JPMorgan Chase & Co. increased its holdings in Monro, Inc. (NASDAQ:MNRO - Free Report) by 68.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,710 shares of the auto parts company's stock after acquiring an additional 61,988 shares during the period. JPMorgan Chase & Co. owned about 0.51% of Monro worth $3,787,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. D.B. Root & Company LLC lifted its holdings in shares of Monro by 8.7% in the fourth quarter. D.B. Root & Company LLC now owns 15,467 shares of the auto parts company's stock valued at $384,000 after purchasing an additional 1,233 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in Monro by 17.9% during the 4th quarter. Bleakley Financial Group LLC now owns 9,939 shares of the auto parts company's stock worth $246,000 after acquiring an additional 1,506 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Monro by 14.3% in the 4th quarter. Inspire Investing LLC now owns 16,299 shares of the auto parts company's stock worth $404,000 after acquiring an additional 2,042 shares in the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Monro in the fourth quarter valued at about $52,000. Finally, Cibc World Markets Corp lifted its position in shares of Monro by 1.9% during the fourth quarter. Cibc World Markets Corp now owns 152,795 shares of the auto parts company's stock valued at $3,789,000 after purchasing an additional 2,795 shares in the last quarter.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MNRO shares. Wedbush reduced their price objective on shares of Monro from $27.00 to $19.00 and set an "outperform" rating for the company in a research report on Tuesday, April 1st. Wells Fargo & Company dropped their price target on Monro from $26.00 to $24.00 and set an "equal weight" rating on the stock in a report on Monday, January 27th. Finally, Stephens upgraded Monro from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $21.00 to $18.00 in a research note on Friday, April 4th.

Monro Stock Performance

NASDAQ:MNRO traded down $0.15 during trading hours on Friday, reaching $14.43. The stock had a trading volume of 55,243 shares, compared to its average volume of 674,981. Monro, Inc. has a 12-month low of $13.50 and a 12-month high of $31.49. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.19 and a current ratio of 0.54. The stock has a 50 day simple moving average of $16.14 and a 200 day simple moving average of $22.02. The stock has a market cap of $432.16 million, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09.

Monro (NASDAQ:MNRO - Get Free Report) last released 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%. On average, research analysts forecast that Monro, Inc. will post 0.63 EPS for the current fiscal year.

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 paid 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 7.76%. Monro's payout ratio is 175.00%.

Monro Profile

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.