Jennison Associates LLC Has $25.35 Million Stock Position in Monro Inc (NASDAQ:MNRO)

Jennison Associates LLC lifted its stake in shares of Monro Inc (NASDAQ:MNRO) by 6.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 292,979 shares of the auto parts company’s stock after acquiring an additional 18,764 shares during the quarter. Jennison Associates LLC owned 0.89% of Monro worth $25,349,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of MNRO. Enlightenment Research LLC purchased a new position in Monro in the fourth quarter valued at about $34,000. Strs Ohio purchased a new position in shares of Monro during the 4th quarter worth approximately $123,000. PNC Financial Services Group Inc. increased its stake in shares of Monro by 17.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,875 shares of the auto parts company’s stock worth $128,000 after purchasing an additional 273 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Monro by 94.1% during the 4th quarter. LS Investment Advisors LLC now owns 1,927 shares of the auto parts company’s stock worth $132,000 after purchasing an additional 934 shares in the last quarter. Finally, Huntington National Bank increased its stake in shares of Monro by 55.5% during the 1st quarter. Huntington National Bank now owns 1,564 shares of the auto parts company’s stock worth $135,000 after purchasing an additional 558 shares in the last quarter.

Monro stock traded up $1.39 during midday trading on Monday, reaching $86.69. 317,500 shares of the stock traded hands, compared to its average volume of 327,668. The stock has a fifty day moving average price of $83.98. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 36.05, a price-to-earnings-growth ratio of 2.45 and a beta of 0.78. Monro Inc has a fifty-two week low of $57.40 and a fifty-two week high of $89.72. The company has a current ratio of 1.10, a quick ratio of 0.32 and a debt-to-equity ratio of 0.54.

Monro (NASDAQ:MNRO) last released its earnings results on Tuesday, May 21st. The auto parts company reported $0.51 EPS for the quarter, hitting analysts’ consensus estimates of $0.51. Monro had a net margin of 6.64% and a return on equity of 12.10%. The business had revenue of $287.20 million for the quarter, compared to the consensus estimate of $292.07 million. During the same period in the previous year, the firm earned $0.52 EPS. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts expect that Monro Inc will post 2.68 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.02%. This is an increase from Monro’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Friday, May 31st. Monro’s payout ratio is currently 36.97%.

A number of equities analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Monro from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a report on Thursday, May 16th. BidaskClub upgraded shares of Monro from a “hold” rating to a “buy” rating in a report on Friday, June 21st. Guggenheim lowered shares of Monro from a “buy” rating to a “neutral” rating and set a $82.89 price target on the stock. in a report on Thursday, April 4th. They noted that the move was a valuation call. Finally, CL King reissued a “hold” rating on shares of Monro in a research note on Wednesday, May 22nd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Monro presently has a consensus rating of “Hold” and a consensus target price of $85.96.

Monro Company 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.

Further Reading: Are sell-side analysts objective?

Institutional Ownership by Quarter for Monro (NASDAQ:MNRO)

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