Nathan’s Famous (NASDAQ:NATH) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of Nathan’s Famous (NASDAQ:NATH) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday.

Nathan’s Famous Trading Up 2.0 %

Shares of Nathan’s Famous stock opened at $69.03 on Tuesday. The company’s fifty day simple moving average is $67.48 and its two-hundred day simple moving average is $69.61. The company has a market cap of $281.64 million, a P/E ratio of 14.35 and a beta of 0.28. Nathan’s Famous has a 12-month low of $61.35 and a 12-month high of $82.00.

Nathan’s Famous Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 24th will be paid a $0.50 dividend. The ex-dividend date is Monday, June 24th. This represents a $2.00 annualized dividend and a dividend yield of 2.90%. Nathan’s Famous’s payout ratio is 41.58%.

Hedge Funds Weigh In On Nathan’s Famous

Large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in shares of Nathan’s Famous by 102.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 336 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 170 shares in the last quarter. Gladius Capital Management LP purchased a new stake in Nathan’s Famous during the 3rd quarter valued at $32,000. Victory Capital Management Inc. bought a new position in shares of Nathan’s Famous during the 4th quarter valued at $104,000. BNP Paribas Financial Markets lifted its holdings in Nathan’s Famous by 13.0% in the fourth quarter. BNP Paribas Financial Markets now owns 4,316 shares of the restaurant operator’s stock valued at $337,000 after acquiring an additional 498 shares during the period. Finally, Meixler Investment Management Ltd. purchased a new stake in shares of Nathan’s Famous during the 1st quarter valued at about $322,000. 66.54% of the stock is currently owned by hedge funds and other institutional investors.

Nathan’s Famous Company Profile

Nathan's Famous, Inc, together with its subsidiaries, operates in the foodservice industry. The company owns and franchises restaurants under the Nathan's Famous brand name, as well as sells products bearing the Nathan's Famous trademarks through various channels of distribution. It also has license agreements for the manufacture, distribution, marketing, and sale of Nathan's Famous branded hot dogs, sausages, and corned beef products in refrigerated consumer packages to be resold through retail channels, such as supermarkets, groceries, mass merchandisers, and club stores; and other Nathan's Famous branded refrigerated meat products in consumer packages to be resold through retail channels.