UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 73,989 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 13.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 496,891 shares of the company's stock after selling 73,989 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.82% of First Watch Restaurant Group worth $9,247,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FWRG. Assetmark Inc. grew its position in shares of First Watch Restaurant Group by 68.7% during the 4th quarter. Assetmark Inc. now owns 2,455 shares of the company's stock worth $46,000 after purchasing an additional 1,000 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of First Watch Restaurant Group during the fourth quarter worth about $51,000. State of Wyoming grew its position in First Watch Restaurant Group by 212.6% in the 4th 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. Venturi Wealth Management LLC purchased a new position in First Watch Restaurant Group in the fourth quarter valued at about $81,000. Finally, BNP Paribas Financial Markets purchased a new stake in First Watch Restaurant Group in the 4th quarter worth approximately $86,000. 96.11% of the stock is owned by institutional investors.

First Watch Restaurant Group Trading Up 1.4%

Shares of FWRG stock traded up $0.21 on Wednesday, reaching $15.56. 5,540,408 shares of the stock were exchanged, compared to its average volume of 733,623. The stock has a market cap of $949.05 million, a PE ratio of 47.15, a P/E/G ratio of 3.38 and a beta of 1.01. First Watch Restaurant Group, Inc. has a one year low of $12.90 and a one year high of $22.71. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. The stock has a 50 day moving average price of $17.21 and a 200 day moving average price of $18.47.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $282.24 million for the quarter, compared to analyst estimates of $282.98 million. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The firm's quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.12 earnings per share. Equities research analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on FWRG shares. Guggenheim cut their price target on shares of First Watch Restaurant Group from $23.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. 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. Stifel Nicolaus set a $17.00 target price on shares of First Watch Restaurant Group in a research report on Wednesday, May 7th. Bank of America raised their price target on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, March 12th. Finally, Piper Sandler cut their target price on shares of 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. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, First Watch Restaurant Group has a consensus rating of "Buy" and an average price target of $21.36.

Insiders Place Their Bets

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