Monro, Inc. (NASDAQ:MNRO) Stake Trimmed by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of Monro, Inc. (NASDAQ:MNRO) by 16.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,957 shares of the auto parts company’s stock after selling 2,897 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Monro were worth $371,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealthfront Advisers LLC purchased a new stake in shares of Monro in the 4th quarter valued at approximately $52,000. Quarry LP lifted its holdings in shares of Monro by 30.2% in the third quarter. Quarry LP now owns 2,666 shares of the auto parts company’s stock valued at $77,000 after purchasing an additional 619 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Monro in the third quarter worth $213,000. Bleakley Financial Group LLC grew its holdings in shares of Monro by 17.9% during the fourth quarter. Bleakley Financial Group LLC now owns 9,939 shares of the auto parts company’s stock valued at $246,000 after buying an additional 1,506 shares in the last quarter. Finally, Arete Wealth Advisors LLC acquired a new position in Monro during the third quarter valued at $287,000.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MNRO shares. Wells Fargo & Company decreased their price objective on Monro from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Monday, January 27th. Stephens restated an “equal weight” rating and set a $21.00 price target on shares of Monro in a report on Thursday, February 27th. Finally, Wedbush reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Monro in a research report on Wednesday, December 18th.

Monro Stock Performance

Shares of NASDAQ MNRO opened at $17.20 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.54 and a quick ratio of 0.19. Monro, Inc. has a one year low of $15.75 and a one year high of $32.06. The business’s 50-day moving average price is $19.06 and its two-hundred day moving average price is $24.11. The company has a market capitalization of $515.12 million, a P/E ratio of 26.88, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09.

Monro (NASDAQ:MNRO) 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 return on equity of 3.76% and a net margin of 1.64%. Analysts anticipate that Monro, Inc. will post 0.63 earnings per share for the current fiscal year.

Monro Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were issued a dividend of $0.28 per share. 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 6.51%. Monro’s dividend payout ratio is currently 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.