Connor Clark & Lunn Investment Management Ltd. Takes Position in Monro, Inc. (NASDAQ:MNRO)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Monro, Inc. (NASDAQ:MNRO) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 17,854 shares of the auto parts company’s stock, valued at approximately $515,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Monro at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Millennium Management LLC grew its holdings in Monro by 3,587.8% during the 2nd quarter. Millennium Management LLC now owns 1,139,183 shares of the auto parts company’s stock worth $27,181,000 after acquiring an additional 1,108,292 shares in the last quarter. First Eagle Investment Management LLC lifted its position in shares of Monro by 78.9% during the second quarter. First Eagle Investment Management LLC now owns 254,900 shares of the auto parts company’s stock worth $6,082,000 after purchasing an additional 112,400 shares during the last quarter. Renaissance Technologies LLC grew its stake in Monro by 14.1% in the second quarter. Renaissance Technologies LLC now owns 141,979 shares of the auto parts company’s stock worth $3,388,000 after purchasing an additional 17,500 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Monro by 100.9% in the third quarter. GSA Capital Partners LLP now owns 126,432 shares of the auto parts company’s stock valued at $3,649,000 after buying an additional 63,506 shares during the last quarter. Finally, Maverick Capital Ltd. raised its stake in Monro by 720.3% during the second quarter. Maverick Capital Ltd. now owns 121,354 shares of the auto parts company’s stock valued at $2,896,000 after buying an additional 106,560 shares in the last quarter.

Monro Stock Performance

Monro stock opened at $28.12 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.53 and a quick ratio of 0.21. Monro, Inc. has a 12 month low of $21.00 and a 12 month high of $33.98. The company has a fifty day moving average price of $28.06 and a two-hundred day moving average price of $26.19. The company has a market cap of $842.17 million, a PE ratio of 32.32, a P/E/G ratio of 2.26 and a beta of 1.11.

Monro (NASDAQ:MNRO) last posted its quarterly earnings results on Wednesday, October 30th. The auto parts company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.08). The business had revenue of $301.39 million during the quarter, compared to analyst estimates of $300.06 million. Monro had a net margin of 2.24% and a return on equity of 4.77%. The company’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the firm posted $0.41 earnings per share. Research analysts expect that Monro, Inc. will post 0.83 earnings per share for the current year.

Monro Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Tuesday, December 3rd will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Tuesday, December 3rd. Monro’s dividend payout ratio (DPR) is presently 128.74%.

Analysts Set New Price Targets

Separately, Stephens began coverage on Monro in a research report on Tuesday, October 15th. They issued an “equal weight” rating and a $31.00 target price for the company.

Monro Company 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.