Wealthfront Advisers LLC Purchases New Stake in Monro, Inc. (NASDAQ:MNRO)

Wealthfront Advisers LLC purchased a new stake in shares of Monro, Inc. (NASDAQ:MNRO) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,092 shares of the auto parts company’s stock, valued at approximately $52,000.

Several other large investors have also recently bought and sold shares of the business. AlphaQuest LLC raised its position in Monro by 3,964.2% during the fourth quarter. AlphaQuest LLC now owns 12,599 shares of the auto parts company’s stock valued at $312,000 after buying an additional 12,289 shares during the period. Amundi raised its position in Monro by 203.7% during the fourth quarter. Amundi now owns 14,993 shares of the auto parts company’s stock valued at $372,000 after buying an additional 10,057 shares during the period. Victory Capital Management Inc. raised its position in Monro by 1,288.0% during the fourth quarter. Victory Capital Management Inc. now owns 141,121 shares of the auto parts company’s stock valued at $3,500,000 after buying an additional 130,954 shares during the period. Bank of New York Mellon Corp raised its position in Monro by 7.7% during the fourth quarter. Bank of New York Mellon Corp now owns 374,466 shares of the auto parts company’s stock valued at $9,287,000 after buying an additional 26,855 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new position in Monro during the fourth quarter valued at $272,000.

Analyst Ratings Changes

Several research firms recently weighed in on MNRO. Wedbush reissued an “outperform” rating and set a $31.00 price target on shares of Monro in a research report on Wednesday, December 18th. Wells Fargo & Company lowered their target price on Monro from $26.00 to $24.00 and set an “equal weight” rating on the stock in a research note on Monday, January 27th. Finally, Stephens restated an “equal weight” rating and issued a $21.00 target price on shares of Monro in a research note on Thursday, February 27th.

Monro Stock Performance

Shares of NASDAQ MNRO opened at $16.85 on Wednesday. The business’s 50-day moving average price is $19.36 and its two-hundred day moving average price is $24.31. 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 company has a market capitalization of $504.64 million, a P/E ratio of 26.33, a price-to-earnings-growth ratio of 2.05 and a beta of 1.09.

Monro (NASDAQ:MNRO) last issued its earnings results 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%. Analysts anticipate that Monro, Inc. will post 0.63 earnings per share for the current fiscal year.

Monro Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 25th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Tuesday, February 25th. This represents a $1.12 annualized dividend and a dividend yield of 6.65%. Monro’s dividend payout ratio (DPR) is presently 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.