American Century Companies Inc. Increases Stock Position in Marcus Corporation (The) $MCS

Key Points

• American Century Companies Inc. increased its holdings in Marcus Corporation by 14.7%, owning about 2.66% of the company's shares worth approximately $14.1 million.
• Marcus Corporation announced a dividend of $0.08 per share, up from the previous $0.07, reflecting a 2.1% yield and a payout ratio of 62.22%.
• Wall Street analysts have set a consensus target price of $24.50 for Marcus shares, with ratings including one Strong Buy and three Buy ratings.

American Century Companies Inc. raised its holdings in shares of Marcus Corporation (The) (NYSE:MCS - Free Report) by 14.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 844,953 shares of the company's stock after buying an additional 108,334 shares during the quarter. American Century Companies Inc. owned about 2.66% of Marcus worth $14,102,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MCS. Lazard Asset Management LLC grew its position in Marcus by 2,908.9% during the fourth quarter. Lazard Asset Management LLC now owns 2,377 shares of the company's stock worth $51,000 after buying an additional 2,298 shares in the last quarter. Quarry LP purchased a new position in Marcus in the fourth quarter worth $70,000. Harbor Capital Advisors Inc. purchased a new position in Marcus in the first quarter worth $76,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Marcus by 38.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,700 shares of the company's stock worth $145,000 after acquiring an additional 2,424 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new position in Marcus in the fourth quarter worth $206,000. 81.57% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MCS has been the subject of several research reports. B. Riley initiated coverage on shares of Marcus in a research report on Friday, May 16th. They issued a "buy" rating and a $24.00 target price for the company. Wedbush initiated coverage on shares of Marcus in a research report on Friday, July 18th. They issued an "outperform" rating and a $24.00 target price for the company. Barrington Research reiterated an "outperform" rating and issued a $25.00 target price on shares of Marcus in a research report on Monday, August 4th. Finally, Wall Street Zen lowered shares of Marcus from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $24.50.

Marcus Trading Up 0.9%

NYSE:MCS traded up $0.14 during trading hours on Friday, reaching $15.46. The company's stock had a trading volume of 201,995 shares, compared to its average volume of 272,875. The firm has a market capitalization of $484.05 million, a price-to-earnings ratio of 34.36, a PEG ratio of 2.89 and a beta of 1.22. The firm has a 50-day simple moving average of $16.33 and a 200-day simple moving average of $16.97. Marcus Corporation has a 1 year low of $13.94 and a 1 year high of $23.16. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.39 and a current ratio of 0.39.

Marcus (NYSE:MCS - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.04. The company had revenue of $206.04 million for the quarter, compared to analysts' expectations of $192.79 million. Marcus had a net margin of 1.91% and a return on equity of 4.28%. Research analysts expect that Marcus Corporation will post 0.36 EPS for the current fiscal year.

Marcus Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Monday, August 25th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Monday, August 25th. This is an increase from Marcus's previous quarterly dividend of $0.07. Marcus's dividend payout ratio is currently 71.11%.

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.