Arkadios Wealth Advisors Buys Shares of 68,503 First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Key Points

• Arkadios Wealth Advisors has acquired a new stake in First Watch Restaurant Group, purchasing 68,503 shares valued at approximately $1.14 million, representing 0.11% of the company.
• First Watch Restaurant Group's stock price is currently at $16.78, with a 12-month low of $12.90 and a high of $22.71, while the company reported a missed earnings estimate of ($0.01) EPS for its last quarter.
• Analysts have a consensus rating of "Buy" for First Watch Restaurant Group, with an average price target of $20.82, although several firms have adjusted their price targets downwards in recent months.

Arkadios Wealth Advisors acquired a new position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 68,503 shares of the company's stock, valued at approximately $1,141,000. Arkadios Wealth Advisors owned about 0.11% of First Watch Restaurant Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FWRG. Champlain Investment Partners LLC increased its holdings in shares of First Watch Restaurant Group by 59.0% in the fourth quarter. Champlain Investment Partners LLC now owns 2,582,303 shares of the company's stock valued at $48,057,000 after purchasing an additional 958,417 shares during the period. Vanguard Group Inc. boosted its stake in shares of First Watch Restaurant Group by 25.6% in the fourth quarter. Vanguard Group Inc. now owns 2,351,614 shares of the company's stock valued at $43,764,000 after buying an additional 479,741 shares in the last quarter. JPMorgan Chase & Co. raised its position in First Watch Restaurant Group by 7.8% in 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 in the last quarter. Lazard Asset Management LLC purchased a new position in First Watch Restaurant Group in the fourth quarter worth $39,095,000. Finally, 12 West Capital Management LP raised its position in First Watch Restaurant Group by 20.2% in the fourth quarter. 12 West Capital Management LP now owns 2,013,406 shares of the company's stock worth $37,469,000 after acquiring an additional 337,920 shares in the last quarter. Hedge funds and other institutional investors own 96.11% of the company's stock.

First Watch Restaurant Group Trading Up 5.4%

FWRG stock traded up $0.96 during midday trading on Wednesday, reaching $18.81. 1,330,982 shares of the company's stock traded hands, compared to its average volume of 814,409. The company has a market capitalization of $1.15 billion, a P/E ratio of 110.74, a PEG ratio of 4.86 and a beta of 0.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.31 and a quick ratio of 0.27. First Watch Restaurant Group, Inc. has a fifty-two week low of $12.90 and a fifty-two week high of $22.71. The business has a 50-day moving average price of $16.48 and a two-hundred day moving average price of $17.77.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.04). The business had revenue of $307.89 million for the quarter, compared to analyst estimates of $304.94 million. First Watch Restaurant Group had a net margin of 1.03% and a return on equity of 1.84%. The company's quarterly revenue was up 19.1% on a year-over-year basis. During the same period last year, the firm earned $0.14 earnings per share. Equities research analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Transactions at First Watch Restaurant Group

In other First Watch Restaurant Group news, major shareholder International L.P. Advent sold 4,500,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $14.70, for a total value of $66,150,000.00. Following the completion of the sale, the insider owned 14,689,784 shares of the company's stock, valued at $215,939,824.80. This trade represents a 23.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

FWRG has been the topic of a number of research reports. Benchmark upped their price target on First Watch Restaurant Group from $22.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday. Guggenheim lowered their price target on First Watch Restaurant Group from $23.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Stifel Nicolaus set a $17.00 price objective on First Watch Restaurant Group in a research note on Wednesday, May 7th. Piper Sandler decreased their target price on shares of First Watch Restaurant Group from $23.00 to $20.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Finally, TD Cowen raised their target price on shares of First Watch Restaurant Group from $19.00 to $21.00 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, First Watch Restaurant Group currently has a consensus rating of "Buy" and an average target price of $21.09.

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.