Stephens Investment Management Group LLC Grows Stock Holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Stephens Investment Management Group LLC boosted its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 708,663 shares of the company's stock after purchasing an additional 15,304 shares during the period. Stephens Investment Management Group LLC owned about 1.16% of First Watch Restaurant Group worth $11,799,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of First Watch Restaurant Group by 3.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,269 shares of the company's stock valued at $321,000 after buying an additional 613 shares during the period. Assetmark Inc. boosted its position in First Watch Restaurant Group by 68.7% in the fourth quarter. Assetmark Inc. now owns 2,455 shares of the company's stock worth $46,000 after purchasing an additional 1,000 shares during the last quarter. Mariner LLC grew its stake in shares of First Watch Restaurant Group by 5.1% during the 4th 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 period. Bank of New York Mellon Corp grew its stake in shares of First Watch Restaurant Group by 2.7% during the 4th 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 period. Finally, Oppenheimer Asset Management Inc. increased its position in shares of First Watch Restaurant Group by 19.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,039 shares of the company's stock valued at $217,000 after purchasing an additional 2,083 shares during the last quarter. Hedge funds and other institutional investors own 96.11% of the company's stock.

Insider Activity at First Watch Restaurant Group

In related news, major shareholder International L.P. Advent sold 4,500,000 shares of First Watch Restaurant Group stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $14.70, for a total value of $66,150,000.00. Following the completion of the transaction, the insider owned 14,689,784 shares in the company, valued at approximately $215,939,824.80. This trade represents a 23.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.00% of the company's stock.

First Watch Restaurant Group Stock Performance

NASDAQ:FWRG opened at $17.50 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.31 and a quick ratio of 0.27. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 102.94, a PEG ratio of 4.98 and a beta of 0.90. First Watch Restaurant Group, Inc. has a 1 year low of $12.90 and a 1 year high of $22.71. The stock's 50 day simple moving average is $16.22 and its two-hundred day simple moving average is $17.97.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its quarterly 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 business had revenue of $282.24 million during the quarter, compared to the consensus estimate of $282.98 million. During the same quarter in the prior year, the firm posted $0.12 EPS. The company'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

Several analysts recently issued reports on FWRG shares. Barclays cut their target price on shares of First Watch Restaurant Group from $24.00 to $20.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Raymond James Financial reissued a "strong-buy" rating and set a $21.00 price objective (down previously from $25.00) on shares of First Watch Restaurant Group in a research report on Wednesday, May 7th. Stephens reduced their price objective on First Watch Restaurant Group from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Wednesday, May 7th. Guggenheim lowered their target price on First Watch Restaurant Group from $23.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, Piper Sandler cut their price target on First Watch Restaurant Group from $23.00 to $20.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $21.36.

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.

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