Vanguard Trims Monro Inc. (MNRO) Stake to 11.7%

TL;DR

**Vanguard still owns 11.7% of Monro, slightly down from before.**

AI Summary

The Vanguard Group, a major investment firm, has updated its ownership stake in Monro Inc. (MNRO) as of December 29, 2023. This SC 13G/A filing indicates that Vanguard now beneficially owns 3,477,320 shares of Monro's Common Stock, representing 11.7% of the company. This is an amendment to their previous filing, showing a slight decrease from their prior reported ownership of 3,500,000 shares (11.8%). For investors, this means a significant institutional holder maintains a large, albeit slightly reduced, position in Monro, signaling continued confidence but also a minor trimming of their stake.

Why It Matters

Large institutional ownership by firms like Vanguard can provide stability and investor confidence, but a slight reduction might prompt investors to examine Monro's recent performance or outlook.

Risk Assessment

Risk Level: low — This filing indicates a minor adjustment by a large institutional investor, not a significant change in company fundamentals or a major sell-off.

Analyst Insight

Investors should note Vanguard's continued substantial, though slightly reduced, stake. This suggests a stable institutional presence, but a minor trim might warrant a closer look at Monro's recent financial reports for any underlying reasons.

Key Numbers

• 3,477,320 — Shares Beneficially Owned (The total number of Monro Inc. Common Stock shares Vanguard holds, indicating their significant stake.)
• 11.7% — Percentage of Class (The proportion of Monro Inc. that Vanguard owns, showing their influence as a major shareholder.)
• December 29, 2023 — Date of Event (The specific date on which Vanguard's ownership percentage was determined for this filing.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and institutional investor
• Monro Inc. (company) — subject company, automotive repair services
• 3,477,320 shares (dollar_amount) — number of shares beneficially owned by Vanguard
• 11.7% (dollar_amount) — percentage of Monro's Common Stock owned by Vanguard
• December 29, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• Vanguard will maintain a significant, albeit potentially fluctuating, stake in Monro Inc. over the next year. (The Vanguard Group) — high confidence, target: 2025-02-13

FAQ

Filing Documents

• tv01481-monroinc.htm (SC 13G/A) — 11KB
• 0001104659-24-021492.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Monro Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 200 Holleder Parkway Rochester, NY 14615

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 610236101

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR