Christopher Anthony Tomasso Sells 42,039 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) CEO Christopher Anthony Tomasso sold 42,039 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $706,675.59. Following the completion of the sale, the chief executive officer now owns 389,832 shares of the company’s stock, valued at approximately $6,553,075.92. This represents a 9.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

First Watch Restaurant Group Stock Up 0.2 %

FWRG traded up $0.03 during trading on Friday, hitting $16.45. The company had a trading volume of 630,335 shares, compared to its average volume of 640,908. First Watch Restaurant Group, Inc. has a 1-year low of $12.90 and a 1-year high of $25.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. The company has a market cap of $996.38 million, a PE ratio of 49.85, a P/E/G ratio of 3.38 and a beta of 0.90. The business has a 50-day moving average of $19.89 and a 200-day moving average of $18.13.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The company had revenue of $263.30 million during the quarter, compared to analyst estimates of $262.82 million. During the same quarter last year, the company posted $0.04 EPS. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Assetmark Inc. raised its position in shares of First Watch Restaurant Group by 68.7% during the 4th quarter. Assetmark Inc. now owns 2,455 shares of the company’s stock valued at $46,000 after acquiring an additional 1,000 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in First Watch Restaurant Group in the fourth quarter worth $51,000. State of Wyoming increased its stake in First Watch Restaurant Group by 212.6% during the fourth quarter. State of Wyoming now owns 3,214 shares of the company’s stock valued at $60,000 after purchasing an additional 2,186 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of First Watch Restaurant Group during the fourth quarter worth $81,000. Finally, BNP Paribas Financial Markets bought a new position in shares of First Watch Restaurant Group in the 4th quarter worth about $86,000. Institutional investors and hedge funds own 96.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Stephens reaffirmed an “overweight” rating and issued a $25.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday. Benchmark restated a “buy” rating on shares of First Watch Restaurant Group in a report on Wednesday. TD Securities reiterated a “hold” rating and set a $21.00 price objective on shares of First Watch Restaurant Group in a research note on Wednesday. Sanford C. Bernstein set a $21.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday. Finally, Bank of America raised their price target on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, First Watch Restaurant Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.36.

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.