Monro Inc (NASDAQ:MNRO) Position Lifted by Cardinal Capital Management

Cardinal Capital Management boosted its stake in Monro Inc (NASDAQ:MNRO) by 1.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,057 shares of the auto parts company’s stock after acquiring an additional 169 shares during the period. Cardinal Capital Management’s holdings in Monro were worth $956,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue lifted its holdings in Monro by 1.1% in the 1st quarter. State of Alaska Department of Revenue now owns 11,156 shares of the auto parts company’s stock valued at $965,000 after acquiring an additional 125 shares during the last quarter. Huntington National Bank lifted its stake in Monro by 55.5% during the first quarter. Huntington National Bank now owns 1,564 shares of the auto parts company’s stock valued at $135,000 after buying an additional 558 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Monro by 5.8% in the fourth quarter. Geode Capital Management LLC now owns 392,705 shares of the auto parts company’s stock worth $26,998,000 after purchasing an additional 21,499 shares in the last quarter. Norges Bank purchased a new stake in shares of Monro in the fourth quarter worth approximately $22,347,000. Finally, Amalgamated Bank purchased a new stake in shares of Monro in the fourth quarter worth approximately $343,000.

A number of equities analysts recently commented on MNRO shares. Zacks Investment Research downgraded Monro from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. BidaskClub downgraded shares of Monro from a “hold” rating to a “sell” rating in a research note on Saturday, February 2nd. Finally, Guggenheim cut Monro from a “buy” rating to a “neutral” rating and set a $82.89 target price for the company. in a research report on Thursday, April 4th. They noted that the move was a valuation call. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $81.95.

In related news, insider Maureen Mulholland sold 1,000 shares of Monro stock in a transaction dated Wednesday, February 13th. The stock was sold at an average price of $79.60, for a total value of $79,600.00. Following the completion of the sale, the insider now directly owns 200 shares in the company, valued at $15,920. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Donald Glickman sold 10,000 shares of Monro stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $78.16, for a total value of $781,600.00. Following the completion of the sale, the director now owns 181,078 shares of the company’s stock, valued at $14,153,056.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,000 shares of company stock valued at $1,637,300. 4.60% of the stock is currently owned by corporate insiders.

Shares of NASDAQ MNRO opened at $82.64 on Friday. Monro Inc has a 52-week low of $51.45 and a 52-week high of $89.72. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 39.73, a P/E/G ratio of 2.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.05 and a quick ratio of 0.30.

Monro (NASDAQ:MNRO) last announced its earnings results on Thursday, January 31st. The auto parts company reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. Monro had a return on equity of 12.47% and a net margin of 6.71%. The company had revenue of $310.11 million during the quarter, compared to analyst estimates of $309.89 million. As a group, sell-side analysts predict that Monro Inc will post 2.42 earnings per share for the current year.

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About Monro

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: Bollinger Bands

Institutional Ownership by Quarter for Monro (NASDAQ:MNRO)

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