Raymond James Financial Inc. Invests $904,000 in Nathan's Famous, Inc. (NASDAQ:NATH)

Raymond James Financial Inc. bought a new position in shares of Nathan's Famous, Inc. (NASDAQ:NATH - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,503 shares of the restaurant operator's stock, valued at approximately $904,000. Raymond James Financial Inc. owned approximately 0.28% of Nathan's Famous at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in Nathan's Famous during the 4th quarter worth $397,000. Geode Capital Management LLC raised its position in shares of Nathan's Famous by 3.3% during the third quarter. Geode Capital Management LLC now owns 63,252 shares of the restaurant operator's stock worth $5,118,000 after acquiring an additional 2,011 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Nathan's Famous by 125.5% during the third quarter. JPMorgan Chase & Co. now owns 4,744 shares of the restaurant operator's stock valued at $384,000 after acquiring an additional 2,640 shares during the period. Ellsworth Advisors LLC bought a new position in Nathan's Famous in the fourth quarter valued at about $589,000. Finally, Barclays PLC increased its position in Nathan's Famous by 271.3% in the third quarter. Barclays PLC now owns 4,084 shares of the restaurant operator's stock worth $330,000 after purchasing an additional 2,984 shares during the period. 66.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Nathan's Famous from a "strong-buy" rating to a "buy" rating in a research report on Monday.

Nathan's Famous Stock Performance

NATH traded up $3.22 during trading on Wednesday, reaching $94.62. 12,168 shares of the company's stock were exchanged, compared to its average volume of 9,811. The company's fifty day moving average price is $94.46 and its 200-day moving average price is $86.95. The firm has a market capitalization of $386.90 million, a PE ratio of 16.31 and a beta of 0.21. Nathan's Famous, Inc. has a fifty-two week low of $64.02 and a fifty-two week high of $104.96.

Nathan's Famous (NASDAQ:NATH - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The restaurant operator reported $1.10 EPS for the quarter. Nathan's Famous had a negative return on equity of 96.05% and a net margin of 16.19%.

Nathan's Famous Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were given a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.11%. Nathan's Famous's dividend payout ratio is 34.48%.

Nathan's Famous Company Profile

Nathan's Famous, Inc engages in the operation of franchised fast-food units. It is involved in the licensing, wholesaling, and retailing of products marketed under the Nathan's Famous brand. The firm operates through the following business segments: Branded Product Program, Product Licensing, Restaurant Operations, and Corporate.