Mutual of America Capital Management LLC Has $7.25 Million Holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Mutual of America Capital Management LLC grew its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 389,730 shares of the company’s stock after buying an additional 20,716 shares during the period. Mutual of America Capital Management LLC’s holdings in First Watch Restaurant Group were worth $7,253,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FWRG. Raymond James & Associates lifted its position in shares of First Watch Restaurant Group by 26.1% in the third quarter. Raymond James & Associates now owns 285,007 shares of the company’s stock worth $4,446,000 after buying an additional 58,994 shares during the last quarter. Rocky Mountain Advisers LLC lifted its position in shares of First Watch Restaurant Group by 180.1% in the third quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company’s stock worth $103,000 after buying an additional 4,250 shares during the last quarter. Versor Investments LP acquired a new stake in shares of First Watch Restaurant Group in the third quarter worth about $201,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of First Watch Restaurant Group in the third quarter worth about $1,566,000. Finally, Commerce Bank acquired a new stake in shares of First Watch Restaurant Group in the third quarter worth about $208,000. Institutional investors and hedge funds own 96.11% of the company’s stock.

First Watch Restaurant Group Trading Up 1.4 %

Shares of FWRG opened at $21.32 on Monday. First Watch Restaurant Group, Inc. has a 12-month low of $12.90 and a 12-month 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. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 64.61, a P/E/G ratio of 3.38 and a beta of 0.91. The stock’s 50-day moving average price is $19.94 and its 200 day moving average price is $18.05.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Stephens reiterated an “overweight” rating and issued a $25.00 price objective on shares of First Watch Restaurant Group in a research note on Tuesday, January 28th. Raymond James lifted their price objective on First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. Piper Sandler lifted their price objective on First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Barclays lifted their price objective on First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, TD Cowen lifted their price objective on First Watch Restaurant Group from $18.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.30.

First Watch Restaurant Group 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.