JPMorgan Chase & Co. Acquires 40,538 Shares of Marcus Corp (MCS)
JPMorgan Chase & Co. raised its holdings in Marcus Corp (NYSE:MCS) by 62.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 105,105 shares of the company’s stock after acquiring an additional 40,538 shares during the quarter. JPMorgan Chase & Co. owned about 0.38% of Marcus worth $2,964,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Neuberger Berman Group LLC boosted its stake in Marcus by 0.8% in the second quarter. Neuberger Berman Group LLC now owns 7,595 shares of the company’s stock valued at $229,000 after acquiring an additional 61 shares during the last quarter. Arizona State Retirement System boosted its stake in Marcus by 1.0% in the second quarter. Arizona State Retirement System now owns 9,968 shares of the company’s stock valued at $301,000 after acquiring an additional 100 shares during the last quarter. Hancock Holding Co. boosted its stake in Marcus by 1.0% in the second quarter. Hancock Holding Co. now owns 18,686 shares of the company’s stock valued at $564,000 after acquiring an additional 186 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Marcus by 5.5% during the second quarter. The Manufacturers Life Insurance Company now owns 15,728 shares of the company’s stock worth $475,000 after purchasing an additional 815 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in shares of Marcus by 6.2% during the second quarter. Voya Investment Management LLC now owns 14,079 shares of the company’s stock worth $425,000 after purchasing an additional 819 shares in the last quarter. 60.15% of the stock is currently owned by hedge funds and other institutional investors.
MCS has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Marcus from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research report on Wednesday, December 20th. B. Riley set a $36.00 price target on shares of Marcus and gave the stock a “buy” rating in a research report on Wednesday, October 18th. Benchmark reissued a “buy” rating and set a $34.00 price target (down from $37.00) on shares of Marcus in a research report on Wednesday, October 4th. Finally, TheStreet raised shares of Marcus from a “c” rating to a “b-” rating in a research report on Thursday, October 5th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Marcus presently has a consensus rating of “Buy” and an average price target of $34.75.
Marcus (NYSE:MCS) last announced its quarterly earnings results on Thursday, October 26th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The company had revenue of $153.82 million for the quarter, compared to analysts’ expectations of $153.91 million. Marcus had a net margin of 6.51% and a return on equity of 9.73%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. research analysts anticipate that Marcus Corp will post 1.52 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Monday, November 27th were given a dividend of $0.125 per share. The ex-dividend date was Friday, November 24th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.89%. Marcus’s dividend payout ratio is 35.97%.
Marcus Company Profile
The Marcus Corporation operates principally in two business segments: Theatres, and Hotels and Resorts. The Theatres segment operates multiscreen motion picture theatres in Wisconsin, Illinois, Ohio, Minnesota, Iowa, North Dakota and Nebraska, and a family entertainment center in Wisconsin. The Hotels and Resorts segment owns and operates hotels and resorts in Wisconsin, Illinois, Oklahoma and Nebraska, and manages hotels, resorts and other properties in Wisconsin, Minnesota, Texas, Nevada, Georgia, Florida and California.
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