First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Holdings Boosted by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC grew its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 37.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 693,359 shares of the company’s stock after purchasing an additional 189,681 shares during the quarter. Stephens Investment Management Group LLC owned approximately 1.14% of First Watch Restaurant Group worth $12,903,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FWRG. Rocky Mountain Advisers LLC boosted its position in First Watch Restaurant Group by 180.1% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company’s stock valued at $103,000 after purchasing an additional 4,250 shares during the period. SG Americas Securities LLC acquired a new position in shares of First Watch Restaurant Group during the third quarter valued at $119,000. XTX Topco Ltd bought a new position in shares of First Watch Restaurant Group during the third quarter worth about $157,000. Versor Investments LP acquired a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth about $201,000. Finally, Commerce Bank acquired a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth about $208,000. 96.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FWRG shares. Raymond James upped their target price on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Benchmark reissued a “buy” rating and issued a $23.00 price objective on shares of First Watch Restaurant Group in a report on Wednesday, October 16th. Piper Sandler raised their target price on First Watch Restaurant Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Barclays boosted their price target on First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Stephens reissued an “overweight” rating and set a $25.00 price target on shares of First Watch Restaurant Group in a report on Tuesday, January 28th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.30.

Insider Activity at First Watch Restaurant Group

In other news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $19.76, for a total transaction of $158,080,000.00. Following the sale, the insider now directly owns 19,189,784 shares of the company’s stock, valued at $379,190,131.84. The trade was a 29.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.00% of the company’s stock.

First Watch Restaurant Group Trading Down 1.8 %

Shares of First Watch Restaurant Group stock opened at $21.00 on Monday. The business has a fifty day simple moving average of $19.45 and a 200-day simple moving average of $17.51. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 63.64, a price-to-earnings-growth ratio of 3.50 and a beta of 0.91. First Watch Restaurant Group, Inc. has a fifty-two week low of $12.90 and a fifty-two week high of $25.98. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The business had revenue of $251.61 million for the quarter, compared to the consensus estimate of $256.17 million. During the same quarter last year, the business posted $0.09 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. On average, equities analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc, through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc and changed its name to First Watch Restaurant Group, Inc in December 2019. First Watch Restaurant Group, Inc was founded in 1983 and is based in Bradenton, Florida.