BlackRock Inc. acquired a new stake in Nathan's Famous, Inc. (NASDAQ:NATH - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 253,234 shares of the restaurant operator's stock, valued at approximately $25,729,000. BlackRock Inc. owned 6.18% of Nathan's Famous as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Nathan's Famous by 204.7% in 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 period. State of Wyoming bought a new position in Nathan's Famous during the 4th quarter worth about $59,000. Legal & General Group Plc increased its holdings in Nathan's Famous by 142.0% during the 2nd quarter. Legal & General Group Plc now owns 692 shares of the restaurant operator's stock worth $77,000 after purchasing an additional 406 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of Nathan's Famous by 75.7% in the 2nd quarter. Osaic Holdings Inc. now owns 884 shares of the restaurant operator's stock valued at $98,000 after purchasing an additional 381 shares during the period. Finally, PNC Financial Services Group Inc. raised its stake in shares of Nathan's Famous by 10.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,106 shares of the restaurant operator's stock valued at $103,000 after purchasing an additional 103 shares during the period. 66.54% of the stock is currently owned by institutional investors and hedge funds.
Nathan's Famous Stock Up 0.2%
NASDAQ NATH opened at $97.86 on Thursday. The firm's 50 day moving average is $98.88 and its 200-day moving average is $100.24. The company has a market capitalization of $401.23 million, a PE ratio of 20.26 and a beta of 0.28. Nathan's Famous, Inc. has a 12-month low of $88.67 and a 12-month high of $113.86.
Nathan's Famous (NASDAQ:NATH - Get Free Report) last announced its earnings results on Friday, August 7th. The restaurant operator reported $2.14 EPS for the quarter. The business had revenue of $54.06 million during the quarter. Nathan's Famous had a net margin of 11.78% and a negative return on equity of 187.25%.
Nathan's Famous Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Monday, June 22nd. Nathan's Famous's dividend payout ratio is currently 41.41%.
Analyst Ratings Changes
Separately, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Nathan's Famous in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy".
Read Our Latest Research Report on NATH
About Nathan's Famous
(
Free Report)
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.
Further Reading
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