Ameriprise Financial Inc. Increases Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Ameriprise Financial Inc. increased its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 18.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 249,743 shares of the company's stock after purchasing an additional 39,539 shares during the period. Ameriprise Financial Inc. owned 0.41% of First Watch Restaurant Group worth $4,648,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FWRG. Assetmark Inc. increased its position in shares of First Watch Restaurant Group by 68.7% in the fourth quarter. Assetmark Inc. now owns 2,455 shares of the company's stock worth $46,000 after purchasing an additional 1,000 shares during the period. Mariner LLC grew its stake in shares of First Watch Restaurant Group by 5.1% in the fourth quarter. Mariner LLC now owns 21,446 shares of the company's stock worth $399,000 after purchasing an additional 1,033 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of First Watch Restaurant Group by 2.7% in the fourth quarter. Bank of New York Mellon Corp now owns 78,621 shares of the company's stock valued at $1,463,000 after buying an additional 2,033 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of First Watch Restaurant Group in the 4th quarter worth approximately $51,000. Finally, MetLife Investment Management LLC boosted its position in First Watch Restaurant Group by 15.8% during the fourth quarter. MetLife Investment Management LLC now owns 20,768 shares of the company's stock valued at $386,000 after acquiring an additional 2,841 shares during the last quarter. Institutional investors and hedge funds own 96.11% of the company's stock.

Insider Buying and Selling at First Watch Restaurant Group

In other First Watch Restaurant Group news, 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 directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 transaction, 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 position. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

First Watch Restaurant Group Stock Performance

First Watch Restaurant Group stock traded up $0.20 during midday trading on Friday, hitting $15.80. The stock had a trading volume of 49,789 shares, compared to its average volume of 751,000. The company has a market capitalization of $963.38 million, a PE ratio of 47.77, a P/E/G ratio of 3.38 and a beta of 1.01. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The firm'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 posted its earnings results on Tuesday, May 6th. The company reported ($0.01) 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 the consensus estimate 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 was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 earnings per share. On average, research analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

FWRG has been the subject of a number of recent research reports. TD Securities decreased their price target on shares of First Watch Restaurant Group from $22.00 to $19.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Raymond James reissued a "strong-buy" rating and set a $21.00 price objective (down from $25.00) on shares of First Watch Restaurant Group in a report on Wednesday, May 7th. Piper Sandler reduced their price objective on shares of First Watch Restaurant Group from $23.00 to $20.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Barclays decreased their price objective on First Watch Restaurant Group from $24.00 to $20.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus set a $17.00 price objective on First Watch Restaurant Group in a report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $21.36.

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.