Cerity Partners LLC Takes Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Cerity Partners LLC acquired a new stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,672 shares of the company's stock, valued at approximately $308,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in First Watch Restaurant Group by 25.6% during the fourth quarter. Vanguard Group Inc. now owns 2,351,614 shares of the company's stock worth $43,764,000 after acquiring an additional 479,741 shares during the period. JPMorgan Chase & Co. lifted its holdings in First Watch Restaurant Group by 7.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,141,209 shares of the company's stock worth $39,848,000 after acquiring an additional 154,784 shares during the period. Franklin Resources Inc. raised its stake in shares of First Watch Restaurant Group by 14.0% in the third quarter. Franklin Resources Inc. now owns 1,114,974 shares of the company's stock valued at $16,022,000 after buying an additional 136,871 shares during the period. WCM Investment Management LLC lifted its position in shares of First Watch Restaurant Group by 44.2% during the 4th quarter. WCM Investment Management LLC now owns 947,240 shares of the company's stock valued at $17,552,000 after buying an additional 290,173 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of First Watch Restaurant Group by 12.0% during the 4th quarter. Geode Capital Management LLC now owns 862,073 shares of the company's stock worth $16,047,000 after acquiring an additional 92,465 shares during the period. Institutional investors and hedge funds own 96.11% of the company's stock.

First Watch Restaurant Group Trading Down 1.9 %

NASDAQ:FWRG traded down $0.35 during trading hours on Tuesday, hitting $18.58. The company had a trading volume of 112,100 shares, compared to its average volume of 662,237. The company has a market capitalization of $1.13 billion, a PE ratio of 56.30, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02. The stock has a 50-day moving average price of $18.22 and a 200 day moving average price of $18.69. First Watch Restaurant Group, Inc. has a 52 week low of $12.90 and a 52 week 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.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share 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 business had revenue of $263.30 million for the quarter, compared to the consensus estimate of $262.82 million. During the same period in the prior year, the business posted $0.04 EPS. First Watch Restaurant Group's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts predict that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other First Watch Restaurant Group news, CEO Christopher Anthony Tomasso sold 42,039 shares of First Watch Restaurant Group 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 sale, the chief executive officer now directly owns 389,832 shares in the company, valued at approximately $6,553,075.92. The trade was a 9.73 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jay Anthony Wolszczak sold 5,743 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $96,539.83. Following the sale, the insider now owns 37,768 shares in the company, valued at $634,880.08. This represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on FWRG shares. Sanford C. Bernstein set a $21.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Barclays increased their target price on shares of First Watch Restaurant Group from $21.00 to $24.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. Stephens reiterated an "overweight" rating and set a $24.00 target price on shares of First Watch Restaurant Group in a research report on Thursday, April 24th. Bank of America raised their price objective on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, March 12th. Finally, TD Cowen raised shares of First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 target price on the stock in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, First Watch Restaurant Group has an average rating of "Buy" and an average price target of $22.73.

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.