Monro (MNRO) Declares $0.28 Dividend
Monro said on May 18, 2023 that its board of directors declared a regular quarterly dividend of $0.28 per share ($1.12 annualized). Previously, the company paid $0.28 per share.
Shares must be purchased before the ex-div date of June 2, 2023 to qualify for the dividend. Shareholders of record as of June 5, 2023 will receive the payment on June 19, 2023.
At the current share price of $45.05 / share, the stock's dividend yield is 2.49%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.64%, the lowest has been 0.90%, and the highest has been 2.62%. The standard deviation of yields is 0.50 (n=237).
The current dividend yield is 1.69 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.90. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.27%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 490 funds or institutions reporting positions in Monro. This is a decrease of 20 owner(s) or 3.92% in the last quarter. Average portfolio weight of all funds dedicated to MNRO is 0.14%, an increase of 9.27%. Total shares owned by institutions decreased in the last three months by 0.67% to 40,827K shares. 
The put/call ratio of MNRO is 0.64, indicating a bullish outlook.
Analyst Price Forecast Suggests 1.51% Downside
As of May 11, 2023, the average one-year price target for Monro is 44.37. The forecasts range from a low of 42.42 to a high of $47.25. The average price target represents a decrease of 1.51% from its latest reported closing price of 45.05.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Monro is 1,381MM, an increase of 4.20%. The projected annual non-GAAP EPS is 1.99.
What are Other Shareholders Doing?
T. Rowe Price Investment Management holds 4,764K shares representing 15.17% ownership of the company. In it's prior filing, the firm reported owning 3,918K shares, representing an increase of 17.75%. The firm increased its portfolio allocation in MNRO by 24.23% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 2,331K shares representing 7.42% ownership of the company. In it's prior filing, the firm reported owning 2,355K shares, representing a decrease of 1.03%. The firm decreased its portfolio allocation in MNRO by 6.34% over the last quarter.
Wellington Management Group Llp holds 2,143K shares representing 6.82% ownership of the company. In it's prior filing, the firm reported owning 2,368K shares, representing a decrease of 10.53%. The firm decreased its portfolio allocation in MNRO by 86.20% over the last quarter.
Westwood Holdings Group holds 1,227K shares representing 3.91% ownership of the company. In it's prior filing, the firm reported owning 1,289K shares, representing a decrease of 5.01%. The firm increased its portfolio allocation in MNRO by 6.41% over the last quarter.
Copeland Capital Management holds 1,151K shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 1,069K shares, representing an increase of 7.17%. The firm increased its portfolio allocation in MNRO by 105,003.83% over the last quarter.
Monro Background Information
(This description is provided by the company.)
Headquartered in Rochester, New York, Monro is a chain of 1,259 company-operated stores, 96 franchised locations, seven wholesale locations and three retread facilities providing automotive undercar repair and tire sales and services. The Company operates in 32 states, serving the MidAtlantic and New England regions and portions of the Great Lakes, Midwest, Southeast and Western United States. The predecessor to the Company was founded by Charles J. August in 1957 as a Midas Muffler franchise. In 1966, Monro began to diversify into a full line of undercar repair services. The Company has experienced significant growth in recent years through
Key filings for this company:
This story originally appeared on Fintel.