Brown Advisory Inc. Sells 32,341 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Brown Advisory Inc. reduced its position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,416,481 shares of the company's stock after selling 32,341 shares during the period. Brown Advisory Inc. owned about 2.32% of First Watch Restaurant Group worth $23,584,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in FWRG. Assetmark Inc. increased its position in First Watch Restaurant Group by 68.7% in the 4th quarter. Assetmark Inc. now owns 2,455 shares of the company's stock valued at $46,000 after acquiring an additional 1,000 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of First Watch Restaurant Group in the fourth quarter worth $51,000. State of Wyoming increased its holdings in First Watch Restaurant Group by 212.6% in the fourth quarter. State of Wyoming now owns 3,214 shares of the company's stock valued at $60,000 after purchasing an additional 2,186 shares during the period. BNP Paribas Financial Markets bought a new position in First Watch Restaurant Group during the 4th quarter worth $86,000. Finally, Comerica Bank increased its stake in shares of First Watch Restaurant Group by 316.2% in the fourth quarter. Comerica Bank now owns 5,157 shares of the company's stock valued at $96,000 after buying an additional 3,918 shares during the period. Institutional investors and hedge funds own 96.11% of the company's stock.

First Watch Restaurant Group Price Performance

Shares of NASDAQ FWRG opened at $17.92 on Thursday. The firm has a market capitalization of $1.09 billion, a P/E ratio of 105.41, a P/E/G ratio of 5.13 and a beta of 0.90. The firm's 50-day moving average price is $16.25 and its 200-day moving average price is $18.01. The company has a current ratio of 0.31, a quick ratio of 0.27 and a debt-to-equity ratio of 0.32. First Watch Restaurant Group, Inc. has a 1-year low of $12.90 and a 1-year high of $22.71.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.05). First Watch Restaurant Group had a return on equity of 1.84% and a net margin of 1.03%. The firm had revenue of $282.24 million for the quarter, compared to analyst estimates of $282.98 million. During the same period last year, the company posted $0.12 earnings per share. The firm's quarterly revenue was up 16.4% compared to the same quarter last year. Equities research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 earnings per share 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 company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $14.70, for a total transaction of $66,150,000.00. Following the transaction, the insider owned 14,689,784 shares in the company, valued at approximately $215,939,824.80. This represents a 23.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on FWRG. Stifel Nicolaus set a $17.00 price objective on First Watch Restaurant Group in a research note on Wednesday, May 7th. TD Securities restated a "buy" rating and issued a $19.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, June 4th. Bank of America increased their price objective on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, March 12th. Guggenheim dropped their target price on shares of 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. Finally, Barclays cut their price target on shares of First Watch Restaurant Group from $24.00 to $20.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average 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.

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