Teton Advisors Inc. Reduces Position in Nathan's Famous, Inc. (NASDAQ:NATH)

Teton Advisors Inc. lowered its stake in shares of Nathan's Famous, Inc. (NASDAQ:NATH - Free Report) by 31.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,400 shares of the restaurant operator's stock after selling 35,500 shares during the period. Nathan's Famous accounts for about 3.1% of Teton Advisors Inc.'s investment portfolio, making the stock its 2nd largest position. Teton Advisors Inc. owned about 1.90% of Nathan's Famous worth $6,084,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Royce & Associates LP increased its stake in Nathan's Famous by 15.6% in the 4th quarter. Royce & Associates LP now owns 139,528 shares of the restaurant operator's stock worth $10,968,000 after acquiring an additional 18,851 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Nathan's Famous in the fourth quarter worth $904,000. JPMorgan Chase & Co. raised its stake in Nathan's Famous by 164.1% during the fourth quarter. JPMorgan Chase & Co. now owns 12,527 shares of the restaurant operator's stock valued at $985,000 after purchasing an additional 7,783 shares in the last quarter. Ellsworth Advisors LLC bought a new position in Nathan's Famous during the fourth quarter valued at $589,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Nathan's Famous in the 4th quarter worth about $397,000. Hedge funds and other institutional investors own 66.54% of the company's stock.

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 report on Friday.

Nathan's Famous Price Performance

Shares of NASDAQ:NATH traded up $0.24 during trading on Friday, hitting $93.98. The company had a trading volume of 13,309 shares, compared to its average volume of 9,994. The stock has a market cap of $384.28 million, a price-to-earnings ratio of 16.20 and a beta of 0.21. The company has a fifty day simple moving average of $95.69 and a two-hundred day simple moving average of $87.58. Nathan's Famous, Inc. has a one year low of $64.02 and a one year high of $104.96.

Nathan's Famous (NASDAQ:NATH - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The restaurant operator reported $1.10 earnings per share (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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors of record on Tuesday, February 18th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Tuesday, February 18th. Nathan's Famous's payout ratio is currently 34.48%.

Nathan's Famous 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.