Peregrine Capital Management LLC Has $13.76 Million Stock Holdings in Monro Inc (NASDAQ:MNRO)

Peregrine Capital Management LLC trimmed its position in Monro Inc (NASDAQ:MNRO) by 20.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 175,930 shares of the auto parts company’s stock after selling 46,073 shares during the period. Peregrine Capital Management LLC’s holdings in Monro were worth $13,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. D.B. Root & Company LLC grew its holdings in Monro by 2.1% in the 4th quarter. D.B. Root & Company LLC now owns 8,298 shares of the auto parts company’s stock valued at $648,000 after buying an additional 172 shares in the last quarter. US Bancorp DE grew its holdings in Monro by 8.8% in the 2nd quarter. US Bancorp DE now owns 2,202 shares of the auto parts company’s stock valued at $188,000 after buying an additional 178 shares in the last quarter. Mason Street Advisors LLC grew its holdings in Monro by 1.9% in the 3rd quarter. Mason Street Advisors LLC now owns 11,281 shares of the auto parts company’s stock valued at $891,000 after buying an additional 206 shares in the last quarter. State of Tennessee Treasury Department grew its holdings in Monro by 1.6% in the 3rd quarter. State of Tennessee Treasury Department now owns 20,567 shares of the auto parts company’s stock valued at $1,625,000 after buying an additional 318 shares in the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in Monro in the 3rd quarter valued at $46,000.

A number of research analysts have commented on MNRO shares. BidaskClub lowered Monro from a “buy” rating to a “hold” rating in a report on Friday, January 3rd. ValuEngine lowered Monro from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th. SunTrust Banks decreased their price objective on Monro to $75.00 and set a “positive” rating on the stock in a report on Friday, October 25th. Guggenheim raised Monro from a “neutral” rating to a “buy” rating and set a $92.00 price objective on the stock in a report on Tuesday, December 10th. Finally, BMO Capital Markets decreased their price objective on Monro from $90.00 to $78.00 and set a “market perform” rating on the stock in a report on Friday, October 25th. Seven equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $83.80.

In other news, Director Peter J. Solomon sold 5,604 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $72.89, for a total transaction of $408,475.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 13,104 shares of company stock worth $941,046. 4.40% of the stock is currently owned by insiders.

MNRO opened at $76.25 on Friday. The firm has a market cap of $2.51 billion, a P/E ratio of 32.04, a price-to-earnings-growth ratio of 2.35 and a beta of 0.76. Monro Inc has a 52-week low of $63.86 and a 52-week high of $89.72. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.30 and a current ratio of 0.95. The business’s fifty day moving average is $77.32 and its 200-day moving average is $77.79.

Monro (NASDAQ:MNRO) last released its earnings results on Thursday, October 24th. The auto parts company reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.11). The company had revenue of $324.11 million for the quarter, compared to analyst estimates of $330.07 million. Monro had a return on equity of 11.41% and a net margin of 6.48%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share. On average, research analysts predict that Monro Inc will post 2.48 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 24th. Stockholders of record on Tuesday, December 10th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Monday, December 9th. Monro’s dividend payout ratio (DPR) is currently 36.97%.

Monro 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: Initial Coin Offerings entail a high degree of risk

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Institutional Ownership by Quarter for Monro (NASDAQ:MNRO)

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