State Board of Administration of Florida Retirement System cut its position in Monro Muffler Brake Inc. (NASDAQ:MNRO) by 6.6% during the second quarter, Holdings Channel reports. The fund owned 19,405 shares of the company’s stock after selling 1,369 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.06% of Monro Muffler Brake worth $1,233,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC increased its stake in Monro Muffler Brake by 4.0% in the first quarter. TimesSquare Capital Management LLC now owns 1,042,589 shares of the company’s stock worth $74,514,000 after buying an additional 40,245 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Monro Muffler Brake by 0.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 781,941 shares of the company’s stock worth $55,885,000 after buying an additional 2,534 shares during the last quarter. Royce & Associates LP increased its stake in Monro Muffler Brake by 1.3% in the first quarter. Royce & Associates LP now owns 761,000 shares of the company’s stock worth $54,389,000 after buying an additional 10,000 shares during the last quarter. State Street Corp increased its stake in Monro Muffler Brake by 0.3% in the first quarter. State Street Corp now owns 731,624 shares of the company’s stock worth $52,283,000 after buying an additional 2,458 shares during the last quarter. Finally, Henderson Group PLC increased its stake in Monro Muffler Brake by 57.5% in the second quarter. Henderson Group PLC now owns 511,771 shares of the company’s stock worth $32,528,000 after buying an additional 186,912 shares during the last quarter.

Monro Muffler Brake Inc. (NASDAQ:MNRO) traded down 0.77% during trading on Tuesday, hitting $59.17. The stock had a trading volume of 264,417 shares. The company has a market cap of $1.91 billion, a PE ratio of 30.52 and a beta of 0.99. Monro Muffler Brake Inc. has a 12 month low of $55.24 and a 12 month high of $77.00. The company’s 50 day moving average is $58.07 and its 200-day moving average is $64.38.

Monro Muffler Brake (NASDAQ:MNRO) last issued its earnings results on Thursday, July 28th. The company reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.01. Monro Muffler Brake had a return on equity of 12.54% and a net margin of 6.86%. The firm had revenue of $236.90 million for the quarter, compared to the consensus estimate of $235.12 million. During the same quarter in the prior year, the business earned $0.58 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts predict that Monro Muffler Brake Inc. will post $2.15 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 22nd were paid a $0.17 dividend. The ex-dividend date was Thursday, August 18th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.15%. Monro Muffler Brake’s payout ratio is 34.87%.

A number of analysts have issued reports on MNRO shares. Zacks Investment Research downgraded Monro Muffler Brake from a “hold” rating to a “sell” rating in a research note on Tuesday, May 24th. Northcoast Research downgraded Monro Muffler Brake from a “neutral” rating to a “sell” rating in a research note on Thursday, July 14th. Sterne Agee CRT reaffirmed a “buy” rating and issued a $75.00 price objective (down previously from $77.00) on shares of Monro Muffler Brake in a research note on Monday, May 23rd. Gabelli started coverage on Monro Muffler Brake in a research note on Thursday, August 25th. They issued a “hold” rating on the stock. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Monro Muffler Brake in a research note on Friday, July 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $75.88.

In other Monro Muffler Brake news, insider Christopher R. Hoornbeck sold 6,750 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $56.70, for a total transaction of $382,725.00. Following the transaction, the insider now owns 26,855 shares in the company, valued at $1,522,678.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John C. Lamb sold 650 shares of the stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $56.22, for a total value of $36,543.00. Following the transaction, the insider now owns 500 shares in the company, valued at approximately $28,110. The disclosure for this sale can be found here. 7.70% of the stock is owned by insiders.

About Monro Muffler Brake

Monro Muffler Brake, Inc is engaged in the provision of automotive undercar repair and tire services in the United States. The Company provides a range of services on passenger cars, light trucks and vans for brakes; mufflers and exhaust systems, and steering, drive train, suspension and wheel alignment.

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