Renaissance Technologies LLC Boosts Holdings in Nathan's Famous, Inc. $NATH

Key Points

• Renaissance Technologies increased its Nathan’s Famous stake by 8.7% in the first quarter, owning 154,356 shares valued at approximately $15.5 million. Institutional investors collectively own 66.54% of the company.
• Nathan’s Famous reported quarterly revenue of $35.07 million and earnings per share of $0.68. The company also paid a quarterly dividend of $0.50 per share, representing a 2.0% annualized yield.
• Analyst sentiment remains positive: Weiss Ratings reiterated a “buy (b-)” rating, while MarketBeat data shows the stock has an average “Buy” rating. Shares opened at $98.11, compared with a 52-week range of $88.67 to $113.86.

Renaissance Technologies LLC lifted its holdings in Nathan's Famous, Inc. (NASDAQ:NATH - Free Report) by 8.7% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 154,356 shares of the restaurant operator's stock after acquiring an additional 12,300 shares during the quarter. Renaissance Technologies LLC owned 3.77% of Nathan's Famous worth $15,548,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NATH. Gamco Investors INC. ET AL grew its holdings in shares of Nathan's Famous by 6.7% during the 1st quarter. Gamco Investors INC. ET AL now owns 291,086 shares of the restaurant operator's stock valued at $29,321,000 after purchasing an additional 18,250 shares during the last quarter. Gabelli Funds LLC lifted its stake in Nathan's Famous by 9.2% in the first quarter. Gabelli Funds LLC now owns 187,000 shares of the restaurant operator's stock worth $18,837,000 after purchasing an additional 15,800 shares during the last quarter. Vanguard Group Inc. boosted its position in Nathan's Famous by 0.7% during the third quarter. Vanguard Group Inc. now owns 138,170 shares of the restaurant operator's stock valued at $15,301,000 after buying an additional 912 shares during the period. Geode Capital Management LLC boosted its position in Nathan's Famous by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 64,279 shares of the restaurant operator's stock valued at $6,016,000 after buying an additional 1,083 shares during the period. Finally, ABC Arbitrage SA bought a new position in shares of Nathan's Famous during the first quarter valued at about $5,435,000. 66.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Nathan's Famous Stock Performance

Shares of NATH stock opened at $98.11 on Friday. The firm has a market cap of $402.25 million, a P/E ratio of 20.23 and a beta of 0.27. Nathan's Famous, Inc. has a fifty-two week low of $88.67 and a fifty-two week high of $113.86. The business's 50 day moving average price is $100.54 and its 200-day moving average price is $100.40.

Nathan's Famous (NASDAQ:NATH - Get Free Report) last announced its 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 company had revenue of $35.07 million during the quarter.

Nathan's Famous Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 22nd were given 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 dividend payout ratio (DPR) is currently 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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