24,200 Shares in Nathan's Famous, Inc. $NATH Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Commonwealth of Pennsylvania Public School Empls Retrmt SYS opened a new position in Nathan's Famous during the first quarter, buying 24,200 shares worth about $2.44 million. The stake represented roughly 0.59% of the company.
• Institutional ownership remains significant, with hedge funds and other investors holding 66.54% of Nathan's Famous shares. Several other funds also increased their positions in the restaurant operator during recent quarters.
• Analyst sentiment is constructive, as Weiss Ratings upgraded Nathan's Famous from hold to buy, and MarketBeat reports a consensus rating of Buy. The stock last traded around $100.26, near its 50-day and 200-day moving averages.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Nathan's Famous, Inc. (NASDAQ:NATH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 24,200 shares of the restaurant operator's stock, valued at approximately $2,438,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.59% of Nathan's Famous at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in shares of Nathan's Famous by 204.7% during the second quarter. Tower Research Capital LLC TRC now owns 387 shares of the restaurant operator's stock worth $43,000 after acquiring an additional 260 shares in the last quarter. State of Wyoming purchased a new stake in shares of Nathan's Famous in the 4th quarter valued at $59,000. Legal & General Group Plc grew its holdings in shares of Nathan's Famous by 142.0% during the 2nd quarter. Legal & General Group Plc now owns 692 shares of the restaurant operator's stock valued at $77,000 after purchasing an additional 406 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Nathan's Famous by 351.6% during the 4th quarter. State of Alaska Department of Revenue now owns 1,007 shares of the restaurant operator's stock valued at $93,000 after purchasing an additional 784 shares during the last quarter. Finally, Osaic Holdings Inc. raised its position in Nathan's Famous by 75.7% in the 2nd quarter. Osaic Holdings Inc. now owns 884 shares of the restaurant operator's stock worth $98,000 after purchasing an additional 381 shares during the period. Hedge funds and other institutional investors own 66.54% of the company's stock.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Nathan's Famous from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy".

Nathan's Famous Price Performance

NATH opened at $100.26 on Friday. The stock's 50 day simple moving average is $101.19 and its 200 day simple moving average is $100.00. Nathan's Famous, Inc. has a 1 year low of $88.67 and a 1 year high of $113.86. The firm has a market cap of $410.06 million, a price-to-earnings ratio of 20.67 and a beta of 0.27.

Nathan's Famous (NASDAQ:NATH - Get Free Report) last announced its quarterly earnings results on Tuesday, June 9th. The restaurant operator reported $0.68 EPS for the quarter. Nathan's Famous had a negative return on equity of 179.01% and a net margin of 12.35%.The business had revenue of $35.07 million for the quarter.

Nathan's Famous Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 22nd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, June 22nd. Nathan's Famous's payout ratio is presently 41.24%.

About Nathan's Famous

Nathan's Famous Inc is a quick-service restaurant company known for its signature all-beef hot dogs and classic American fast-food offerings. The company operates and franchises a network of dining outlets under the Nathan's Famous brand, serving items such as hamburgers, chicken sandwiches, french fries and specialty sides. In addition to its restaurant business, Nathan's Famous markets frozen and refrigerated products to retail and foodservice customers across North America.

The company traces its origins to 1916, when founder Nathan Handwerker opened a modest walk-up stand on Coney Island in Brooklyn, New York.

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