Landscape Capital Management L.L.C. Has $2.19 Million Stake in First Watch Restaurant Group, Inc. $FWRG

Key Points

• Landscape Capital Management L.L.C. has reduced its stake in First Watch Restaurant Group, Inc. by 11.7%, owning approximately 0.22% of the company after selling 17,468 shares.
• Major shareholder Advent sold 5 million shares of First Watch stock at an average price of $17.70, resulting in an overall decrease of 34.04% in their ownership.
• Equities analysts have mixed views on First Watch, with an average target price of $21.09 and ratings ranging from "Strong Buy" to "Hold."

Landscape Capital Management L.L.C. cut its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 11.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,436 shares of the company's stock after selling 17,468 shares during the period. Landscape Capital Management L.L.C. owned 0.22% of First Watch Restaurant Group worth $2,188,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. State of Wyoming grew its stake 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 worth $60,000 after purchasing an additional 2,186 shares in the last quarter. BNP Paribas Financial Markets bought a new stake in shares of First Watch Restaurant Group in the 4th quarter valued at approximately $86,000. Comerica Bank raised its position in shares of First Watch Restaurant Group by 316.2% during the 4th quarter. Comerica Bank now owns 5,157 shares of the company's stock valued at $96,000 after acquiring an additional 3,918 shares in the last quarter. GAMMA Investing LLC raised its position in shares of First Watch Restaurant Group by 1,617.7% during the 1st quarter. GAMMA Investing LLC now owns 5,445 shares of the company's stock valued at $91,000 after acquiring an additional 5,128 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in First Watch Restaurant Group by 85.2% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,807 shares of the company's stock worth $163,000 after purchasing an additional 4,512 shares during the last quarter. 96.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder International L.P. Advent sold 5,000,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were sold at an average price of $17.70, for a total transaction of $88,500,000.00. Following the transaction, the insider directly owned 9,689,784 shares in the company, valued at $171,509,176.80. The trade was a 34.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 6.00% of the company's stock.

First Watch Restaurant Group Stock Performance

Shares of First Watch Restaurant Group stock traded down $0.21 during trading hours on Wednesday, reaching $18.53. The company's stock had a trading volume of 215,084 shares, compared to its average volume of 854,180. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.23 and a current ratio of 0.27. First Watch Restaurant Group, Inc. has a one year low of $12.90 and a one year high of $22.71. The company's 50 day simple moving average is $17.56 and its 200 day simple moving average is $17.47. The stock has a market cap of $1.13 billion, a P/E ratio of 309.00, a price-to-earnings-growth ratio of 6.70 and a beta of 0.92.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.04). The firm had revenue of $307.89 million during the quarter, compared to the consensus estimate of $304.94 million. First Watch Restaurant Group had a net margin of 0.37% and a return on equity of 0.69%. The company's revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 earnings per share. First Watch Restaurant Group has set its FY 2025 guidance at EPS. As a group, analysts expect that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

Analysts Set New Price Targets

FWRG has been the subject of several recent research reports. Guggenheim lowered their target price on shares of First Watch Restaurant Group from $23.00 to $22.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. Piper Sandler lowered 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 report on Wednesday, May 7th. Bank of America dropped their price objective on shares of First Watch Restaurant Group from $23.00 to $21.00 and set a "buy" rating on the stock in a research note on Friday, July 18th. Stifel Nicolaus set a $17.00 target price on First Watch Restaurant Group in a research note on Wednesday, May 7th. Finally, Stephens increased their price target on First Watch Restaurant Group from $23.00 to $24.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, First Watch Restaurant Group currently has a consensus rating of "Buy" and an average price target of $21.09.

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.