SRH Advisors LLC Has $523,000 Stock Holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

SRH Advisors LLC boosted its holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 157.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,395 shares of the company's stock after acquiring an additional 19,210 shares during the quarter. SRH Advisors LLC owned 0.05% of First Watch Restaurant Group worth $523,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. acquired a new position in First Watch Restaurant Group during the 1st quarter valued at about $259,000. SG Americas Securities LLC increased its stake in shares of First Watch Restaurant Group by 272.0% during the first quarter. SG Americas Securities LLC now owns 56,466 shares of the company's stock valued at $940,000 after acquiring an additional 41,289 shares during the period. Stephens Investment Management Group LLC increased its position in shares of First Watch Restaurant Group by 2.2% during the 1st quarter. Stephens Investment Management Group LLC now owns 708,663 shares of the company's stock valued at $11,799,000 after purchasing an additional 15,304 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of First Watch Restaurant Group by 23.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 309,851 shares of the company's stock valued at $5,766,000 after purchasing an additional 58,448 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of First Watch Restaurant Group by 7.8% during the 4th quarter. JPMorgan Chase & Co. now owns 2,141,209 shares of the company's stock valued at $39,848,000 after purchasing an additional 154,784 shares during the period. 96.11% of the stock is currently owned by institutional investors and hedge funds.

First Watch Restaurant Group Stock Down 6.1%

Shares of NASDAQ FWRG traded down $1.13 during mid-day trading on Thursday, reaching $17.22. The company had a trading volume of 230,991 shares, compared to its average volume of 789,608. First Watch Restaurant Group, Inc. has a twelve month low of $12.90 and a twelve month high of $22.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.27 and a current ratio of 0.31. The stock has a market capitalization of $1.05 billion, a PE ratio of 101.26, a price-to-earnings-growth ratio of 4.97 and a beta of 0.90. The stock's 50 day moving average is $16.29 and its 200-day moving average is $17.89.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last issued its earnings results 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). 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 during the quarter, compared to analyst estimates of $282.98 million. During the same period in the previous year, the company earned $0.12 earnings per share. The business's revenue for the quarter was up 16.4% on a year-over-year basis. As a group, equities analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. TD Securities reaffirmed a "buy" rating and set a $19.00 target price on shares of First Watch Restaurant Group in a report on Wednesday, June 4th. TD Cowen upgraded First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 target price on the stock in a report on Tuesday, April 1st. Stifel Nicolaus set a $17.00 price target on First Watch Restaurant Group in a research note on Wednesday, May 7th. Piper Sandler dropped their price target on First Watch Restaurant Group from $23.00 to $20.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Finally, Raymond James Financial lifted their target price on shares of First Watch Restaurant Group from $21.00 to $22.00 and gave the stock a "strong-buy" rating in a research report on Thursday, July 17th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $20.91.

Insider Activity at First Watch Restaurant Group

In other news, major shareholder International L.P. Advent sold 4,500,000 shares of the 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 $215,939,824.80. This represents a 23.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by company insiders.

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.