Janus Henderson Group PLC Takes $315,000 Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Janus Henderson Group PLC bought a new stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,969 shares of the company's stock, valued at approximately $315,000.

Several other institutional investors also recently added to or reduced their stakes in FWRG. Barclays PLC boosted its position in shares of First Watch Restaurant Group by 505.3% in the third quarter. Barclays PLC now owns 172,515 shares of the company's stock valued at $2,690,000 after acquiring an additional 144,014 shares during the period. SG Americas Securities LLC raised its stake in First Watch Restaurant Group by 98.9% during 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 last quarter. WCM Investment Management LLC lifted its stake in shares of First Watch Restaurant Group by 44.2% in the fourth 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 period. Stephens Investment Management Group LLC increased its stake in First Watch Restaurant Group by 37.7% during the fourth quarter. Stephens Investment Management Group LLC now owns 693,359 shares of the company's stock valued at $12,903,000 after acquiring an additional 189,681 shares during the period. Finally, SRH Advisors LLC increased its stake in First Watch Restaurant Group by 84.3% during the fourth quarter. SRH Advisors LLC now owns 12,185 shares of the company's stock valued at $227,000 after acquiring an additional 5,575 shares during the period. 96.11% of the stock is owned by institutional investors.

First Watch Restaurant Group Price Performance

Shares of FWRG traded down $0.21 during trading hours on Thursday, hitting $15.60. The stock had a trading volume of 445,228 shares, compared to its average volume of 711,299. The stock has a market capitalization of $951.49 million, a price-to-earnings ratio of 47.27, a P/E/G ratio of 3.38 and a beta of 1.01. 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's fifty day moving average is $17.36 and its two-hundred day moving average is $18.57. First Watch Restaurant Group, Inc. has a 52 week low of $12.90 and a 52 week high of $22.71.

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 for the quarter, missing the consensus estimate of $0.04 by ($0.05). The firm had revenue of $282.24 million for the quarter, compared to the consensus estimate of $282.98 million. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. First Watch Restaurant Group's quarterly revenue was up 16.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.12 earnings per share. On average, analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Insider Activity at First Watch Restaurant Group

In other news, insider Jay Anthony Wolszczak sold 5,743 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $96,539.83. Following the transaction, the insider now owns 37,768 shares of the company's stock, valued at $634,880.08. This represents a 13.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now owns 389,832 shares in the company, valued at approximately $6,553,075.92. This represents 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 company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on FWRG. TD Securities decreased their price objective on First Watch Restaurant Group from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Benchmark decreased their price target on shares of First Watch Restaurant Group from $26.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Raymond James reissued a "strong-buy" rating and issued a $21.00 price target (down previously from $25.00) on shares of First Watch Restaurant Group in a report on Wednesday, May 7th. 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 report on Wednesday, May 7th. Finally, Bank of America lifted their target price 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. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $21.36.

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.