Dimensional Fund Advisors LP Has $35.80 Million Stock Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Dimensional Fund Advisors LP increased its position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 15.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,923,901 shares of the company's stock after purchasing an additional 259,517 shares during the period. Dimensional Fund Advisors LP owned 3.18% of First Watch Restaurant Group worth $35,804,000 at the end of the most recent quarter.

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

Insiders Place Their Bets

In other news, insider Jay Anthony Wolszczak sold 5,743 shares of the business's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total value of $96,539.83. Following the sale, the insider now directly owns 37,768 shares in the company, valued at $634,880.08. The trade was a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the business's stock in a transaction that occurred 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 in the company, valued at $6,553,075.92. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company's stock.

Analyst Upgrades and Downgrades

FWRG has been the topic of several research analyst reports. Guggenheim lowered their price objective on shares of First Watch Restaurant Group from $23.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday. Stifel Nicolaus set a $17.00 price objective on First Watch Restaurant Group in a report on Wednesday. Barclays decreased their target price on shares of First Watch Restaurant Group from $24.00 to $20.00 and set an "overweight" rating for the company in a research report on Tuesday. TD Cowen upgraded First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 target price on the stock in a report on Tuesday, April 1st. Finally, Stephens reduced their price objective on shares of First Watch Restaurant Group from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $21.36.

First Watch Restaurant Group Stock Performance

FWRG remained flat at $15.99 during midday trading on Thursday. The company's stock had a trading volume of 1,090,741 shares, compared to its average volume of 715,466. The firm has a market cap of $974.89 million, a PE ratio of 48.46, a P/E/G ratio of 3.38 and a beta of 1.01. First Watch Restaurant Group, Inc. has a 12-month low of $12.90 and a 12-month high of $22.71. The company's 50 day simple moving average is $17.76 and its 200-day simple moving average is $18.74. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.05). The firm had revenue of $282.24 million for the quarter, compared to analyst estimates of $282.98 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The firm's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.12 EPS. On average, research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current 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.