Credit Suisse AG Trims Stake in Monro, Inc. (NASDAQ:MNRO)

Credit Suisse AG lessened its position in Monro, Inc. (NASDAQ:MNRO – Get Rating) by 5.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 31,654 shares of the auto parts company’s stock after selling 1,837 shares during the quarter. Credit Suisse AG owned approximately 0.10% of Monro worth $1,376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in MNRO. Raymond James & Associates lifted its position in Monro by 3.9% during the first quarter. Raymond James & Associates now owns 84,997 shares of the auto parts company’s stock valued at $3,769,000 after buying an additional 3,227 shares during the period. Citigroup Inc. lifted its position in Monro by 8.0% during the 1st quarter. Citigroup Inc. now owns 31,255 shares of the auto parts company’s stock valued at $1,386,000 after acquiring an additional 2,319 shares during the period. Bank of Montreal Can boosted its stake in Monro by 4.7% during the first quarter. Bank of Montreal Can now owns 9,728 shares of the auto parts company’s stock worth $451,000 after acquiring an additional 434 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Monro by 54.6% in the first quarter. MetLife Investment Management LLC now owns 17,374 shares of the auto parts company’s stock worth $770,000 after purchasing an additional 6,138 shares during the period. Finally, Panagora Asset Management Inc. purchased a new position in shares of Monro during the first quarter valued at approximately $289,000.

Monro Stock Performance

Shares of Monro stock opened at $49.88 on Thursday. Monro, Inc. has a 1 year low of $37.49 and a 1 year high of $55.70. The firm’s 50-day moving average is $49.83 and its 200 day moving average is $47.37. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 2.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.63 and a quick ratio of 0.30.

Monro (NASDAQ:MNRO – Get Rating) last issued its earnings results on Wednesday, January 25th. The auto parts company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.05. The firm had revenue of $335.20 million for the quarter, compared to the consensus estimate of $330.87 million. Monro had a net margin of 3.52% and a return on equity of 6.52%. The business’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. Sell-side analysts anticipate that Monro, Inc. will post 1.61 EPS for the current fiscal year.

Monro Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 22nd. Shareholders of record on Wednesday, March 8th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend is Tuesday, March 7th. Monro’s payout ratio is 78.32%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Monro from a “hold” rating to a “buy” rating in a research report on Thursday, March 2nd.

Monro Company Profile

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Monro, Inc engages in the operation of chain stores that provide 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.