Nuveen LLC Buys New Position in First Watch Restaurant Group, Inc. $FWRG

Nuveen LLC bought a new stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 65,148 shares of the company's stock, valued at approximately $1,085,000. Nuveen LLC owned 0.11% of First Watch Restaurant Group at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State of Wyoming increased its holdings in shares of First Watch Restaurant Group by 212.6% in the 4th quarter. State of Wyoming now owns 3,214 shares of the company's stock valued at $60,000 after acquiring an additional 2,186 shares during the period. BNP Paribas Financial Markets purchased a new position in First Watch Restaurant Group in the 4th quarter valued at $86,000. GAMMA Investing LLC grew its position in First Watch Restaurant Group by 1,617.7% in the 1st quarter. GAMMA Investing LLC now owns 5,445 shares of the company's stock valued at $91,000 after buying an additional 5,128 shares during the last quarter. Comerica Bank grew its position in First Watch Restaurant Group by 316.2% in the 4th 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 last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in First Watch Restaurant Group by 85.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,807 shares of the company's stock valued at $163,000 after buying an additional 4,512 shares during the last quarter. 96.11% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, major shareholder International L.P. Advent sold 5,000,000 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $17.70, for a total value of $88,500,000.00. Following the completion of the transaction, the insider owned 9,689,784 shares of the company's stock, valued at approximately $171,509,176.80. The trade was a 34.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FWRG. Benchmark lifted their price objective on shares of First Watch Restaurant Group from $22.00 to $24.00 and gave the company a "buy" rating in a research report on Wednesday, August 6th. Stephens boosted their target price on shares of 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. Raymond James Financial boosted 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. Bank of America decreased their target price on shares of First Watch Restaurant Group from $23.00 to $21.00 and set a "buy" rating on the stock in a research report on Friday, July 18th. Finally, Barclays boosted their target price on shares of First Watch Restaurant Group from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $21.09.

First Watch Restaurant Group Price Performance

Shares of First Watch Restaurant Group stock traded down $0.07 on Friday, hitting $18.59. The company's stock had a trading volume of 982,998 shares, compared to its average volume of 909,060. First Watch Restaurant Group, Inc. has a 52-week low of $12.90 and a 52-week high of $22.71. The company has a quick ratio of 0.23, a current ratio of 0.27 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average price of $17.72 and a 200-day moving average price of $17.41. The company has a market capitalization of $1.13 billion, a P/E ratio of 309.88, a price-to-earnings-growth ratio of 6.61 and a beta of 0.92.

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

About First Watch Restaurant Group

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.