Nathan’s Famous (NASDAQ:NATH) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Nathan’s Famous (NASDAQ:NATH) from a buy rating to a strong-buy rating in a report released on Saturday morning.

Nathan’s Famous Price Performance

Shares of NATH stock opened at $69.40 on Friday. The stock’s fifty day simple moving average is $68.00 and its 200 day simple moving average is $69.44. Nathan’s Famous has a one year low of $61.35 and a one year high of $82.00. The firm has a market cap of $283.15 million, a price-to-earnings ratio of 14.43 and a beta of 0.23.

Nathan’s Famous Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Monday, June 24th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date was Monday, June 24th. Nathan’s Famous’s dividend payout ratio (DPR) is currently 41.58%.

Hedge Funds Weigh In On Nathan’s Famous

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gladius Capital Management LP acquired a new position in shares of Nathan’s Famous in the 3rd quarter worth approximately $32,000. Cullen Investment Group LTD. acquired a new position in Nathan’s Famous in the fourth quarter worth $850,000. Victory Capital Management Inc. bought a new stake in shares of Nathan’s Famous during the fourth quarter worth $104,000. BNP Paribas Financial Markets increased its stake in shares of 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 buying an additional 498 shares in the last quarter. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Nathan’s Famous by 17.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 9,651 shares of the restaurant operator’s stock valued at $753,000 after buying an additional 1,458 shares during the last quarter. 66.54% of the stock is currently owned by institutional investors and hedge funds.

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.