Cygnus Capital Advisors LLC boosted its position in shares of Monro Muffler Brake, Inc. (NASDAQ:MNRO – Free Report) by 826.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 304,495 shares of the auto parts company’s stock after buying an additional 271,615 shares during the period. Monro Muffler Brake makes up about 3.5% of Cygnus Capital Advisors LLC’s portfolio, making the stock its 9th biggest holding. Cygnus Capital Advisors LLC owned about 0.97% of Monro Muffler Brake worth $5,209,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in MNRO. Goldman Sachs Group Inc. increased its stake in Monro Muffler Brake by 11.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 688,075 shares of the auto parts company’s stock worth $9,956,000 after acquiring an additional 68,862 shares during the last quarter. Jones Financial Companies Lllp bought a new position in shares of Monro Muffler Brake during the 1st quarter valued at approximately $559,000. Jane Street Group LLC grew its holdings in shares of Monro Muffler Brake by 85.2% in the first quarter. Jane Street Group LLC now owns 79,839 shares of the auto parts company’s stock valued at $1,155,000 after purchasing an additional 36,734 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Monro Muffler Brake by 19.1% in the first quarter. SG Americas Securities LLC now owns 147,901 shares of the auto parts company’s stock valued at $2,372,000 after purchasing an additional 23,679 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Monro Muffler Brake by 139.8% in the first quarter. Royal Bank of Canada now owns 27,904 shares of the auto parts company’s stock worth $404,000 after purchasing an additional 16,268 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of equities research analysts recently issued reports on the stock. Weiss Ratings downgraded shares of Monro Muffler Brake from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, August 28th. Zacks Research cut shares of Monro Muffler Brake from a “hold” rating to a “strong sell” rating in a research note on Tuesday, September 1st. Wells Fargo & Company reduced their target price on shares of Monro Muffler Brake from $20.00 to $16.00 and set an “equal weight” rating on the stock in a report on Thursday, June 11th. Wall Street Zen cut shares of Monro Muffler Brake from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Finally, Stephens lowered their price target on shares of Monro Muffler Brake from $20.00 to $17.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $24.33.
Monro Muffler Brake Stock Performance
NASDAQ:MNRO opened at $13.29 on Tuesday. The stock’s fifty day moving average is $14.39 and its 200 day moving average is $16.04. Monro Muffler Brake, Inc. has a fifty-two week low of $11.06 and a fifty-two week high of $23.91. The firm has a market capitalization of $415.45 million, a PE ratio of 60.41, a PEG ratio of 11.07 and a beta of 1.05. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.16 and a current ratio of 0.49.
Monro Muffler Brake (NASDAQ:MNRO – Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The auto parts company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.13). Monro Muffler Brake had a return on equity of 0.80% and a net margin of 0.71%.The company had revenue of $287.13 million during the quarter, compared to the consensus estimate of $286.30 million. During the same quarter in the prior year, the business earned $0.22 earnings per share. The firm’s quarterly revenue was down 4.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Monro Muffler Brake, Inc. will post 0.08 earnings per share for the current year.
Monro Muffler Brake Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 8th. Stockholders of record on Tuesday, August 25th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 8.4%. The ex-dividend date is Tuesday, August 25th. Monro Muffler Brake’s dividend payout ratio (DPR) is 509.09%.
About Monro Muffler Brake
Monro Muffler Brake (NASDAQ:MNRO) is a leading provider of undercar repair and maintenance services for light vehicles in the United States. The company’s core offerings include brake systems, exhaust systems, steering and suspension repairs, tire sales and service, oil and lube changes, wheel alignment, multi-point inspections, and state vehicle inspections. Monro serves both retail customers and fleet accounts, focusing on fast, reliable service and preventive maintenance to help extend vehicle life and safety.
Headquartered in Rochester, New York, Monro was originally founded in 1957 and has grown through a combination of organic expansion and strategic acquisitions.
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