Arrowstreet Capital Limited Partnership Increases Position in Monro, Inc. (NASDAQ:MNRO)

Arrowstreet Capital Limited Partnership boosted its stake in shares of Monro, Inc. (NASDAQ:MNRO - Free Report) by 51.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 92,558 shares of the auto parts company's stock after acquiring an additional 31,340 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.31% of Monro worth $2,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in shares of Monro by 20.5% during the third quarter. Wellington Management Group LLP now owns 1,606,868 shares of the auto parts company's stock worth $46,374,000 after purchasing an additional 273,265 shares in the last quarter. State Street Corp grew its holdings in shares of Monro by 0.8% during the third quarter. State Street Corp now owns 1,344,978 shares of the auto parts company's stock worth $38,816,000 after buying an additional 11,265 shares in the last quarter. Pacer Advisors Inc. purchased a new stake in shares of Monro during the fourth quarter worth $28,899,000. William Blair Investment Management LLC raised its position in shares of Monro by 2.1% in the fourth quarter. William Blair Investment Management LLC now owns 1,121,027 shares of the auto parts company's stock valued at $27,801,000 after buying an additional 23,184 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Monro by 2.5% in the third quarter. Geode Capital Management LLC now owns 823,250 shares of the auto parts company's stock worth $23,763,000 after buying an additional 20,420 shares in the last quarter.

Monro Trading Down 0.4 %

NASDAQ:MNRO traded down $0.06 on Tuesday, hitting $14.23. The stock had a trading volume of 100,045 shares, compared to its average volume of 658,946. The company has a fifty day moving average price of $16.99 and a two-hundred day moving average price of $22.73. Monro, Inc. has a 1-year low of $13.83 and a 1-year high of $31.49. 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 stock has a market cap of $426.05 million, a price-to-earnings ratio of 22.23, a PEG 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 analysts' consensus estimates of $0.31 by ($0.12). Monro had a net margin of 1.64% and a return on equity of 3.76%. Equities research analysts expect that Monro, Inc. will post 0.63 earnings per share for the current fiscal year.

Monro Dividend Announcement

The firm 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.87%. The ex-dividend date was Tuesday, February 25th. Monro's payout ratio is 175.00%.

Analysts Set New Price Targets

A number of analysts have commented on MNRO shares. Wedbush cut 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. Wells Fargo & Company cut their price target on Monro from $26.00 to $24.00 and set an "equal weight" rating for the company in a report on Monday, January 27th. Finally, Stephens raised Monro from an "equal weight" rating to an "overweight" rating and lowered their price objective for the stock from $21.00 to $18.00 in a research note on Friday, April 4th.

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.