Monro Inc (MNRO) Position Cut by Riverhead Capital Management LLC

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Riverhead Capital Management LLC trimmed its stake in Monro Inc (NASDAQ:MNRO) by 9.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,682 shares of the auto parts company’s stock after selling 4,229 shares during the quarter. Riverhead Capital Management LLC owned about 0.13% of Monro worth $2,901,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. PEAK6 Investments L.P. grew its stake in Monro by 979.0% during the second quarter. PEAK6 Investments L.P. now owns 3,516 shares of the auto parts company’s stock worth $204,000 after buying an additional 3,916 shares during the period. Kessler Investment Group LLC grew its stake in Monro by 39.3% during the third quarter. Kessler Investment Group LLC now owns 3,168 shares of the auto parts company’s stock worth $220,000 after buying an additional 893 shares during the period. Parametrica Management Ltd purchased a new stake in Monro during the third quarter worth approximately $288,000. Rafferty Asset Management LLC purchased a new stake in Monro during the third quarter worth approximately $290,000. Finally, Hsbc Holdings PLC purchased a new stake in Monro during the third quarter worth approximately $305,000.

Several research firms have issued reports on MNRO. BidaskClub downgraded shares of Monro from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 8th. Zacks Investment Research upgraded shares of Monro from a “sell” rating to a “hold” rating and set a $83.00 price objective for the company in a research note on Tuesday, October 30th. Finally, Northcoast Research reiterated a “neutral” rating on shares of Monro in a research note on Thursday, September 13th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $70.67.

Shares of MNRO stock opened at $78.86 on Friday. The firm has a market capitalization of $2.71 billion, a PE ratio of 37.91, a PEG ratio of 2.76 and a beta of 0.63. The company has a quick ratio of 0.33, a current ratio of 1.11 and a debt-to-equity ratio of 0.57. Monro Inc has a twelve month low of $50.25 and a twelve month high of $84.38.

Monro (NASDAQ:MNRO) last announced its earnings results on Thursday, October 25th. The auto parts company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.03. The business had revenue of $307.11 million during the quarter, compared to the consensus estimate of $298.74 million. Monro had a net margin of 6.09% and a return on equity of 12.21%. On average, research analysts predict that Monro Inc will post 2.38 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Tuesday, December 11th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 10th. This represents a $0.80 annualized dividend and a dividend yield of 1.01%. Monro’s dividend payout ratio (DPR) is presently 38.46%.

In other news, VP Raymond L. Pickens sold 10,250 shares of the company’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $75.01, for a total value of $768,852.50. Following the completion of the transaction, the vice president now directly owns 1,304 shares in the company, valued at $97,813.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samuel Senuk sold 1,750 shares of the company’s stock in a transaction on Monday, October 29th. The shares were sold at an average price of $75.95, for a total transaction of $132,912.50. Following the completion of the transaction, the insider now owns 167 shares of the company’s stock, valued at $12,683.65. The disclosure for this sale can be found here. Insiders sold 44,000 shares of company stock valued at $3,462,465 over the last 90 days. Insiders own 4.60% of the company’s stock.

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Monro Profile

Monro, Inc provides automotive undercar repair, and tire sales and services in the United States. The company offers range of services on passenger cars, light trucks, and vans for brakes; mufflers and exhaust systems; and steering, drive train, suspension, and wheel alignment. It also provides other products and services, including tires and routine maintenance services, including state inspections.

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Institutional Ownership by Quarter for Monro (NASDAQ:MNRO)

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