BlackRock Inc. lifted its position in shares of Nathan’s Famous, Inc. (NASDAQ:NATH) by 10.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 158,611 shares of the restaurant operator’s stock after purchasing an additional 14,641 shares during the period. BlackRock Inc. owned about 3.79% of Nathan’s Famous worth $14,925,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Millennium Management LLC purchased a new stake in Nathan’s Famous in the 1st quarter valued at approximately $252,000. Rhumbline Advisers purchased a new stake in Nathan’s Famous in the 2nd quarter valued at approximately $261,000. Spark Investment Management LLC purchased a new stake in Nathan’s Famous in the 2nd quarter valued at approximately $345,000. Schwab Charles Investment Management Inc. boosted its holdings in Nathan’s Famous by 37.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 6,442 shares of the restaurant operator’s stock valued at $607,000 after purchasing an additional 1,742 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Nathan’s Famous by 12.9% in the 1st quarter. JPMorgan Chase & Co. now owns 12,542 shares of the restaurant operator’s stock valued at $926,000 after purchasing an additional 1,431 shares in the last quarter. Institutional investors and hedge funds own 41.14% of the company’s stock.
Shares of NASDAQ:NATH traded up $0.22 during trading on Thursday, hitting $69.97. 3,670 shares of the stock were exchanged, compared to its average volume of 7,924. The firm has a market capitalization of $292.36 million, a price-to-earnings ratio of 25.64 and a beta of -0.01. Nathan’s Famous, Inc. has a 12-month low of $60.35 and a 12-month high of $107.05.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Monday, December 3rd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Friday, November 30th.
A number of equities research analysts have weighed in on the company. BidaskClub lowered Nathan’s Famous from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 1st. ValuEngine lowered Nathan’s Famous from a “buy” rating to a “hold” rating in a report on Monday, September 24th.
In related news, Director Robert J. Eide sold 7,362 shares of Nathan’s Famous stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $69.87, for a total transaction of $514,382.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Brian S. Genson sold 370 shares of Nathan’s Famous stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $70.36, for a total value of $26,033.20. Following the transaction, the director now owns 17,244 shares of the company’s stock, valued at $1,213,287.84. The disclosure for this sale can be found here. 32.40% of the stock is owned by insiders.
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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.
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