Bank of New York Mellon Corp Acquires Shares of 276,239 Marcus Corporation (The) $MCS

Key Points

• Bank of New York Mellon acquired 276,239 Marcus shares worth approximately $6.5 million, giving it about a 0.90% stake. Institutional investors collectively own 81.57% of the company.
• Marcus exceeded quarterly earnings expectations, reporting $0.51 in EPS and $231.74 million in revenue. The company also raised its quarterly dividend to $0.09 per share, equivalent to a 1.3% yield.
• Analysts remain generally positive, with Marcus holding a consensus “Moderate Buy” rating and an average price target of $32.25, above its reported share price of $27.32.

Bank of New York Mellon Corp acquired a new position in shares of Marcus Corporation (The) (NYSE:MCS - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 276,239 shares of the company's stock, valued at approximately $6,481,000. Bank of New York Mellon Corp owned about 0.90% of Marcus at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MCS. Bank of America Corp DE boosted its position in Marcus by 1.8% during the 1st quarter. Bank of America Corp DE now owns 89,332 shares of the company's stock valued at $1,534,000 after purchasing an additional 1,556 shares during the period. Empowered Funds LLC lifted its stake in Marcus by 2.8% in the first quarter. Empowered Funds LLC now owns 181,793 shares of the company's stock valued at $3,121,000 after buying an additional 5,023 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Marcus by 8.5% in the first quarter. Quantinno Capital Management LP now owns 102,006 shares of the company's stock valued at $1,751,000 after buying an additional 8,024 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Marcus during the first quarter valued at $844,000. Finally, Heartland Advisors Inc. grew its position in shares of Marcus by 24.4% during the first quarter. Heartland Advisors Inc. now owns 255,000 shares of the company's stock worth $4,378,000 after acquiring an additional 50,000 shares during the last quarter. Institutional investors own 81.57% of the company's stock.

Marcus Trading Down 0.9%

Shares of NYSE:MCS opened at $27.32 on Friday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $842.28 million, a PE ratio of 38.48 and a beta of 0.52. Marcus Corporation has a 1 year low of $12.85 and a 1 year high of $32.42. The firm has a fifty day moving average price of $26.57 and a 200 day moving average price of $21.34.

Marcus (NYSE:MCS - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.16. The company had revenue of $231.74 million for the quarter, compared to analyst estimates of $217.72 million. Marcus had a return on equity of 2.67% and a net margin of 2.87%. Analysts expect that Marcus Corporation will post 0.81 EPS for the current fiscal year.

Marcus Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, August 25th will be given a $0.09 dividend. This is a positive change from Marcus's previous quarterly dividend of $0.08. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, August 25th. Marcus's payout ratio is 50.70%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MCS. Wedbush boosted their price objective on Marcus from $23.00 to $34.00 and gave the stock an "outperform" rating in a research report on Friday, July 31st. B. Riley Financial cut shares of Marcus from a "buy" rating to a "neutral" rating and lifted their price objective for the stock from $27.00 to $29.00 in a research note on Friday, July 31st. Wall Street Zen raised Marcus from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Benchmark boosted their price target on shares of Marcus from $22.00 to $33.00 and gave the company a "buy" rating in a report on Friday, July 31st. Finally, Weiss Ratings upgraded Marcus from a "hold (c)" rating to a "hold (c+)" rating in a report on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $32.25.

Marcus Company Profile

The Marcus Corporation, together with its subsidiaries, owns and operates movie theatres, and hotels and resorts in the United States. It operates a family entertainment center and multiscreen motion picture theatres under the Big Screen Bistro, Big Screen Bistro Express, BistroPlex, and Movie Tavern by Marcus brand names. The company also owns and operates full-service hotels and resorts, as well as manages full-service hotels, resorts, and other properties. In addition, it provides hospitality management services, including check-in, housekeeping, and maintenance for a vacation ownership development; and manages condominium hotels under long-term management contracts.

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