T. Rowe Price Investment Management Inc. Buys 85,378 Shares of Monro, Inc. (NASDAQ:MNRO)

T. Rowe Price Investment Management Inc. lifted its stake in shares of Monro, Inc. (NASDAQ:MNRO - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,702,250 shares of the auto parts company's stock after purchasing an additional 85,378 shares during the quarter. T. Rowe Price Investment Management Inc. owned 9.02% of Monro worth $67,016,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MNRO. Geode Capital Management LLC increased its holdings 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 purchasing an additional 20,420 shares during the period. D.B. Root & Company LLC increased its stake in Monro by 8.7% in the 4th quarter. D.B. Root & Company LLC now owns 15,467 shares of the auto parts company's stock worth $384,000 after acquiring an additional 1,233 shares during the last quarter. Inspire Investing LLC raised its holdings 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 valued at $404,000 after acquiring an additional 2,042 shares in the last quarter. Pacer Advisors Inc. bought a new stake in shares of Monro during the 4th quarter valued at about $28,899,000. Finally, Bleakley Financial Group LLC boosted its position in shares of Monro by 17.9% during the 4th quarter. Bleakley Financial Group LLC now owns 9,939 shares of the auto parts company's stock valued at $246,000 after acquiring an additional 1,506 shares during the last quarter.

Monro Price Performance

MNRO traded down $0.27 during midday trading on Tuesday, hitting $14.20. The stock had a trading volume of 570,204 shares, compared to its average volume of 676,766. Monro, Inc. has a 1 year low of $13.50 and a 1 year 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 business has a fifty day moving average of $15.95 and a 200 day moving average of $21.77. The company has a market cap of $425.28 million, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09.

Monro Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid 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 dividend yield of 7.89%. Monro's dividend payout ratio (DPR) is 175.00%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Wedbush lowered their target price on shares of Monro from $27.00 to $19.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 1st. Stephens raised shares of Monro from an "equal weight" rating to an "overweight" rating and dropped their price objective for the stock from $21.00 to $18.00 in a report on Friday, April 4th. Finally, Wells Fargo & Company cut their target price on shares of Monro from $20.00 to $15.00 and set an "equal weight" rating for the company in a research report on Monday.

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.