Moody National Bank Trust Division Acquires 17,820 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Moody National Bank Trust Division grew its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 18.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,832 shares of the company's stock after purchasing an additional 17,820 shares during the period. Moody National Bank Trust Division owned approximately 0.19% of First Watch Restaurant Group worth $1,879,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of First Watch Restaurant Group by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,269 shares of the company's stock valued at $321,000 after purchasing an additional 613 shares during the last quarter. Assetmark Inc. raised its holdings in shares of First Watch Restaurant Group by 68.7% during the fourth quarter. Assetmark Inc. now owns 2,455 shares of the company's stock valued at $46,000 after purchasing an additional 1,000 shares during the last quarter. Mariner LLC raised its holdings in shares of First Watch Restaurant Group by 5.1% during the fourth quarter. Mariner LLC now owns 21,446 shares of the company's stock valued at $399,000 after purchasing an additional 1,033 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of First Watch Restaurant Group by 2.7% during 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 purchasing an additional 2,033 shares during the last quarter. Finally, State of Wyoming grew its position in First Watch Restaurant Group by 212.6% during the fourth quarter. State of Wyoming now owns 3,214 shares of the company's stock valued at $60,000 after buying an additional 2,186 shares during the period. Institutional investors own 96.11% of the company's stock.

First Watch Restaurant Group Price Performance

Shares of FWRG traded down $0.17 during mid-day trading on Friday, reaching $15.43. The stock had a trading volume of 562,902 shares, compared to its average volume of 713,447. First Watch Restaurant Group, Inc. has a 12 month low of $12.90 and a 12 month high of $22.71. The business has a fifty day moving average of $17.32 and a 200 day moving average of $18.53. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.54. The firm has a market cap of $941.12 million, a price-to-earnings ratio of 46.76, a PEG ratio of 3.38 and a beta of 1.01.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.05). First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The company had revenue of $282.24 million during the quarter, compared to analysts' expectations of $282.98 million. During the same period last year, the firm posted $0.12 EPS. First Watch Restaurant Group's quarterly revenue was up 16.4% compared to the same quarter last year. Equities analysts predict that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on FWRG. TD Cowen upgraded shares of First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 target price for the company in a research report on Tuesday, April 1st. Bank of America boosted their target price on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, March 12th. TD Securities cut their target price on shares of First Watch Restaurant Group from $22.00 to $19.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Raymond James restated a "strong-buy" rating and set a $21.00 target price (down from $25.00) on shares of First Watch Restaurant Group in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $17.00 target price on shares of First Watch Restaurant Group in a research report on Wednesday, May 7th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $21.36.

Insider Activity at First Watch Restaurant Group

In other news, insider Jay Anthony Wolszczak sold 5,743 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $96,539.83. Following the sale, the insider now owns 37,768 shares of the company's stock, valued at approximately $634,880.08. This represents a 13.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $706,675.59. Following the completion of the transaction, the chief executive officer now owns 389,832 shares in the company, valued at approximately $6,553,075.92. The trade was a 9.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

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.