California Public Employees Retirement System cut its stake in Nathan’s Famous, Inc. (NASDAQ:NATH) by 14.7% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,525 shares of the restaurant operator’s stock after selling 2,156 shares during the quarter. California Public Employees Retirement System’s holdings in Nathan’s Famous were worth $1,179,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of NATH. MetLife Investment Advisors LLC acquired a new stake in shares of Nathan’s Famous in the 2nd quarter worth $136,000. Citadel Advisors LLC acquired a new stake in shares of Nathan’s Famous in the 2nd quarter worth $213,000. Millennium Management LLC acquired a new stake in shares of Nathan’s Famous in the 1st quarter worth $252,000. Rhumbline Advisers acquired a new stake in shares of Nathan’s Famous in the 2nd quarter worth $261,000. Finally, Spark Investment Management LLC acquired a new stake in shares of Nathan’s Famous in the 2nd quarter worth $345,000. 40.69% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on the company. BidaskClub downgraded Nathan’s Famous from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 30th. ValuEngine downgraded Nathan’s Famous from a “buy” rating to a “hold” rating in a research note on Monday, September 24th.
Shares of NATH opened at $76.29 on Wednesday. Nathan’s Famous, Inc. has a 52-week low of $60.35 and a 52-week high of $107.05. The firm has a market capitalization of $301.55 million, a price-to-earnings ratio of 26.47 and a beta of -0.01.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Monday, December 3rd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Friday, November 30th.
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About Nathan’s Famous
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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