Marcus Corporation (The) $MCS Shares Acquired by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. significantly increased its stake in Marcus Corporation by 92.3%, accounting for approximately 0.27% of the company's total shares, following the acquisition of 40,820 additional shares in the first quarter.
• Marcus Corporation recently announced a quarterly dividend increase to $0.08, up from the previous $0.07, with a payout ratio of 71.11% and an annualized dividend yield of 2.1%.
• Multiple brokerages have given Marcus Corporation a generally positive outlook, with B. Riley and Wedbush setting price targets of $24.00, and Barrington Research setting a target of $25.00.

Panagora Asset Management Inc. grew its position in Marcus Corporation (The) (NYSE:MCS - Free Report) by 92.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,041 shares of the company's stock after buying an additional 40,820 shares during the quarter. Panagora Asset Management Inc. owned 0.27% of Marcus worth $1,419,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MCS. Price T Rowe Associates Inc. MD purchased a new position in Marcus during the 4th quarter valued at about $234,000. AQR Capital Management LLC increased its stake in shares of Marcus by 2.7% during the 4th quarter. AQR Capital Management LLC now owns 303,022 shares of the company's stock worth $6,515,000 after purchasing an additional 7,981 shares in the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Marcus during the 4th quarter worth approximately $346,000. Bank of America Corp DE lifted its stake in Marcus by 6.6% in the 4th quarter. Bank of America Corp DE now owns 75,285 shares of the company's stock valued at $1,619,000 after buying an additional 4,669 shares in the last quarter. Finally, Caxton Associates LP acquired a new stake in Marcus during the 4th quarter valued at $646,000. 81.57% of the stock is currently owned by hedge funds and other institutional investors.

Marcus Trading Up 0.9%

Marcus stock traded up $0.13 during trading on Friday, reaching $15.42. The company had a trading volume of 142,190 shares, compared to its average volume of 220,103. Marcus Corporation has a 12-month low of $14.11 and a 12-month 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. The stock's 50 day moving average price is $16.17 and its two-hundred day moving average price is $16.77. The firm has a market capitalization of $482.80 million, a price-to-earnings ratio of 34.27, a PEG ratio of 2.88 and a beta of 1.22.

Marcus (NYSE:MCS - Get Free Report) last released its quarterly earnings data on Friday, August 1st. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.04. Marcus had a return on equity of 4.28% and a net margin of 1.91%.The business had revenue of $206.04 million for the quarter, compared to analyst estimates of $192.79 million. As a group, equities analysts expect that Marcus Corporation will post 0.36 earnings per share for the current fiscal year.

Marcus Increases Dividend

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

Analyst Upgrades and Downgrades

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

About Marcus

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.