Brown Advisory Inc. Has $26.96 Million Stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Brown Advisory Inc. trimmed its position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,448,822 shares of the company's stock after selling 15,030 shares during the quarter. Brown Advisory Inc. owned 2.39% of First Watch Restaurant Group worth $26,963,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Barclays PLC lifted its position in shares of First Watch Restaurant Group by 505.3% during the third quarter. Barclays PLC now owns 172,515 shares of the company's stock worth $2,690,000 after purchasing an additional 144,014 shares in the last quarter. Franklin Resources Inc. grew its position in shares of First Watch Restaurant Group by 14.0% during the third quarter. Franklin Resources Inc. now owns 1,114,974 shares of the company's stock worth $16,022,000 after buying an additional 136,871 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in First Watch Restaurant Group by 22.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company's stock valued at $30,988,000 after acquiring an additional 366,227 shares during the last quarter. Diversified Trust Co raised its stake in shares of First Watch Restaurant Group by 84.5% in the 4th quarter. Diversified Trust Co now owns 29,051 shares of the company's stock valued at $541,000 after purchasing an additional 13,301 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of First Watch Restaurant Group by 98.9% during the fourth quarter. SG Americas Securities LLC now owns 15,177 shares of the company's stock worth $282,000 after purchasing an additional 7,547 shares during the last quarter. 96.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FWRG has been the subject of several research reports. TD Securities decreased their target price on First Watch Restaurant Group from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Wednesday. Stifel Nicolaus set a $17.00 target price on shares of First Watch Restaurant Group in a report on Wednesday. Piper Sandler decreased their target price on First Watch Restaurant Group from $23.00 to $20.00 and set an "overweight" rating for the company in a research note on Wednesday. Bank of America increased their price target on First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, March 12th. Finally, Guggenheim cut their target price on First Watch Restaurant Group from $23.00 to $22.00 and set a "buy" rating on the stock in a research note on Thursday. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $21.36.

Insider Transactions at First Watch Restaurant Group

In other news, insider Jay Anthony Wolszczak sold 5,743 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $96,539.83. Following the sale, the insider now owns 37,768 shares in the company, valued at approximately $634,880.08. This trade represents a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction 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. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.

First Watch Restaurant Group Stock Down 1.4 %

Shares of FWRG stock traded down $0.22 on Friday, hitting $15.77. The company's stock had a trading volume of 1,021,409 shares, compared to its average volume of 715,403. First Watch Restaurant Group, Inc. has a fifty-two week low of $12.90 and a fifty-two week high of $22.71. The firm's fifty day moving average price is $17.61 and its 200-day moving average price is $18.73. 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 stock has a market capitalization of $961.48 million, a price-to-earnings ratio of 47.79, a P/E/G ratio of 3.38 and a beta of 1.01.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.05). First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The company had revenue of $282.24 million for the quarter, compared to analyst estimates of $282.98 million. During the same quarter last year, the business earned $0.12 EPS. The company's revenue for the quarter was up 16.4% on a year-over-year basis. Research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

About First Watch Restaurant Group

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.