Bridge City Capital LLC Lowers Stock Holdings in Monro, Inc. (NASDAQ:MNRO)

Bridge City Capital LLC lowered its stake in shares of Monro, Inc. (NASDAQ:MNRO) by 3.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 23,676 shares of the auto parts company’s stock after selling 795 shares during the period. Bridge City Capital LLC’s holdings in Monro were worth $1,504,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MNRO. Fifth Third Bancorp boosted its holdings in Monro by 53.6% in the 1st quarter. Fifth Third Bancorp now owns 530 shares of the auto parts company’s stock valued at $35,000 after purchasing an additional 185 shares in the last quarter. Point72 Hong Kong Ltd boosted its holdings in Monro by 174.2% in the 1st quarter. Point72 Hong Kong Ltd now owns 606 shares of the auto parts company’s stock valued at $40,000 after purchasing an additional 385 shares in the last quarter. FORA Capital LLC purchased a new stake in Monro in the 1st quarter valued at approximately $49,000. Eagle Bay Advisors LLC purchased a new stake in Monro in the 2nd quarter valued at approximately $58,000. Finally, Captrust Financial Advisors boosted its holdings in Monro by 1,470.8% in the 1st quarter. Captrust Financial Advisors now owns 1,021 shares of the auto parts company’s stock valued at $67,000 after purchasing an additional 956 shares in the last quarter.

MNRO stock opened at $57.29 on Wednesday. The firm has a 50 day moving average of $57.74 and a 200-day moving average of $63.01. Monro, Inc. has a 12-month low of $39.39 and a 12-month high of $72.67. The company has a current ratio of 0.80, a quick ratio of 0.28 and a debt-to-equity ratio of 0.76. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 41.22, a PEG ratio of 1.77 and a beta of 1.13.

Monro (NASDAQ:MNRO) last posted its quarterly earnings results on Wednesday, July 28th. The auto parts company reported $0.55 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.04. Monro had a net margin of 3.85% and a return on equity of 7.02%. The company had revenue of $341.82 million during the quarter, compared to the consensus estimate of $324.00 million. Sell-side analysts forecast that Monro, Inc. will post 2.05 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 7th. Stockholders of record on Monday, August 23rd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.82%. This is an increase from Monro’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, August 20th. Monro’s dividend payout ratio (DPR) is presently 91.23%.

In related news, CEO Michael T. Broderick purchased 5,000 shares of Monro stock in a transaction dated Friday, July 30th. The stock was bought at an average cost of $59.39 per share, for a total transaction of $296,950.00. Following the transaction, the chief executive officer now owns 50,000 shares in the company, valued at $2,969,500. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.50% of the stock is currently owned by company insiders.

MNRO has been the topic of a number of analyst reports. Zacks Investment Research lowered Monro from a “buy” rating to a “hold” rating in a report on Wednesday, May 26th. TheStreet raised Monro from a “c” rating to a “b-” rating in a report on Wednesday, July 28th. Three equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $62.00.

Monro Profile

Monro, Inc engages in the operation of chain stores that provides automotive undercar repair and tire services. The company offers services for brakes; mufflers and exhaust systems; and steering, drive train, suspension and wheel alignment. It operates under the brand names: Monro Auto Service and Tire Centers, Tire Choice Auto Service Centers, Mr.

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Institutional Ownership by Quarter for Monro (NASDAQ:MNRO)

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