Bank of New York Mellon Corp Purchases Shares of 29,715 Nathan's Famous, Inc. $NATH

Key Points

• Bank of New York Mellon acquired 29,715 shares of Nathan’s Famous worth approximately $3.02 million, representing about 0.73% of the company.
• Institutional investors and hedge funds own 66.54% of Nathan’s Famous, with several firms increasing their positions during the second quarter. Weiss Ratings reaffirmed a “buy (B-)” rating, and the stock has an overall “Buy” consensus.
• Nathan’s Famous reported quarterly EPS of $2.14 on revenue of $54.06 million and pays a $2.00 annualized dividend, yielding about 2.0%. Shares recently opened at $98.67, with a 52-week range of $88.67 to $113.86.

Bank of New York Mellon Corp acquired a new position in Nathan's Famous, Inc. (NASDAQ:NATH - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,715 shares of the restaurant operator's stock, valued at approximately $3,019,000. Bank of New York Mellon Corp owned about 0.73% of Nathan's Famous as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NATH. Tower Research Capital LLC TRC boosted its position 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 valued at $43,000 after buying an additional 260 shares during the last quarter. State of Wyoming purchased a new stake in Nathan's Famous in the 4th quarter valued at $59,000. Legal & General Group Plc raised its position in Nathan's Famous by 142.0% in the 2nd quarter. Legal & General Group Plc now owns 692 shares of the restaurant operator's stock valued at $77,000 after buying an additional 406 shares during the last quarter. Osaic Holdings Inc. lifted its stake in Nathan's Famous by 75.7% during the 2nd quarter. Osaic Holdings Inc. now owns 884 shares of the restaurant operator's stock valued at $98,000 after acquiring an additional 381 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Nathan's Famous by 10.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,106 shares of the restaurant operator's stock valued at $103,000 after acquiring an additional 103 shares in the last quarter. 66.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Nathan's Famous in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy".

Nathan's Famous Price Performance

Nathan's Famous stock opened at $98.67 on Monday. Nathan's Famous, Inc. has a 52 week low of $88.67 and a 52 week high of $113.86. The company's 50 day moving average price is $98.75 and its two-hundred day moving average price is $100.21. The stock has a market cap of $404.55 million, a P/E ratio of 20.43 and a beta of 0.28.

Nathan's Famous (NASDAQ:NATH - Get Free Report) last released its earnings results on Friday, August 7th. The restaurant operator reported $2.14 earnings per share (EPS) for the quarter. The company had revenue of $54.06 million during the quarter. Nathan's Famous had a negative return on equity of 187.25% and a net margin of 11.78%.

Nathan's Famous Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 22nd were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Monday, June 22nd. Nathan's Famous's dividend payout ratio is 41.41%.

Nathan's Famous Company Profile

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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