B. Metzler seel. Sohn & Co. AG Buys 45,730 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

B. Metzler seel. Sohn & Co. AG grew its position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 45.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 146,097 shares of the company's stock after acquiring an additional 45,730 shares during the period. B. Metzler seel. Sohn & Co. AG owned 0.24% of First Watch Restaurant Group worth $2,719,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in First Watch Restaurant Group by 21.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 251,403 shares of the company's stock worth $3,922,000 after purchasing an additional 45,119 shares in the last quarter. FMR LLC grew its holdings in First Watch Restaurant Group by 9.5% during the 3rd quarter. FMR LLC now owns 625,523 shares of the company's stock worth $9,758,000 after acquiring an additional 54,282 shares during the last quarter. Walleye Capital LLC acquired a new stake in First Watch Restaurant Group in the 3rd quarter valued at about $215,000. ArrowMark Colorado Holdings LLC bought a new position in shares of First Watch Restaurant Group in the third quarter worth about $5,120,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of First Watch Restaurant Group during the third quarter worth approximately $4,719,000. 96.11% of the stock is owned by institutional investors and hedge funds.

First Watch Restaurant Group Stock Down 4.9 %

Shares of NASDAQ FWRG traded down $0.85 during midday trading on Friday, reaching $16.33. The company's stock had a trading volume of 843,416 shares, compared to its average volume of 657,882. The stock has a 50 day simple moving average of $19.21 and a 200-day simple moving average of $18.25. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $991.23 million, a price-to-earnings ratio of 49.49, a PEG ratio of 3.38 and a beta of 1.02. First Watch Restaurant Group, Inc. has a fifty-two week low of $12.90 and a fifty-two week high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business had revenue of $263.30 million for the quarter, compared to the consensus estimate of $262.82 million. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The company's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.04 earnings per share. Equities research analysts predict that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

Insider Buying and Selling at First Watch Restaurant Group

In related news, insider Jay Anthony Wolszczak sold 5,743 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $96,539.83. Following the completion of the sale, the insider now directly owns 37,768 shares in the company, valued at approximately $634,880.08. This trade represents a 13.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the business'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 transaction, the chief executive officer now directly owns 389,832 shares in the company, valued at approximately $6,553,075.92. This trade represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company's stock.

Wall Street Analyst Weigh In

FWRG has been the topic of a number of recent research reports. Barclays reaffirmed an "overweight" rating and issued a $21.00 price objective (down from $24.00) on shares of First Watch Restaurant Group in a research note on Tuesday, March 11th. TD Cowen upgraded First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 price objective for the company in a report on Tuesday, April 1st. Bank of America increased their target price on First Watch Restaurant Group from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, March 12th. Benchmark restated a "buy" rating on shares of First Watch Restaurant Group in a research report on Wednesday, March 12th. Finally, Stephens reiterated an "overweight" rating and issued a $24.00 price target on shares of First Watch Restaurant Group in a research report on Thursday, March 20th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $22.45.

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.