Russell Investments Group Ltd. Acquires 49,615 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Russell Investments Group Ltd. boosted its holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 85.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 107,372 shares of the company's stock after acquiring an additional 49,615 shares during the quarter. Russell Investments Group Ltd. owned about 0.18% of First Watch Restaurant Group worth $1,998,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its stake in shares of First Watch Restaurant Group by 13.6% in the 3rd quarter. State Street Corp now owns 664,310 shares of the company's stock worth $10,363,000 after purchasing an additional 79,744 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of First Watch Restaurant Group by 1.1% in the third quarter. Jane Street Group LLC now owns 49,358 shares of the company's stock valued at $770,000 after buying an additional 551 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of First Watch Restaurant Group during the 3rd quarter valued at $157,000. Barclays PLC boosted its stake in shares of First Watch Restaurant Group by 505.3% during the 3rd quarter. Barclays PLC now owns 172,515 shares of the company's stock worth $2,690,000 after acquiring an additional 144,014 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of First Watch Restaurant Group by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 769,608 shares of the company's stock worth $12,008,000 after acquiring an additional 91,416 shares during the last quarter. 96.11% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Jay Anthony Wolszczak sold 5,743 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total value of $96,539.83. Following the sale, the insider now directly owns 37,768 shares of the company's stock, valued at approximately $634,880.08. This trade represents a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $706,675.59. Following the sale, the chief executive officer now owns 389,832 shares of the company's stock, valued at approximately $6,553,075.92. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.

First Watch Restaurant Group Stock Down 5.1 %

FWRG traded down $1.01 during trading on Thursday, reaching $18.99. 303,759 shares of the stock traded hands, compared to its average volume of 677,290. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. First Watch Restaurant Group, Inc. has a fifty-two week low of $12.90 and a fifty-two week high of $25.98. The stock's 50-day simple moving average is $18.36 and its two-hundred day simple moving average is $18.50. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 57.55, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced 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 firm had revenue of $263.30 million during the quarter, compared to the consensus estimate of $262.82 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The company's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 EPS. As a group, equities research analysts expect that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

FWRG has been the subject of several analyst reports. Sanford C. Bernstein set a $21.00 target price on First Watch Restaurant Group in a report on Tuesday, March 11th. Benchmark reiterated a "buy" rating on shares of First Watch Restaurant Group in a report on Wednesday, March 12th. Bank of America boosted 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. Barclays raised their price objective on shares of First Watch Restaurant Group from $21.00 to $24.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Stephens restated an "overweight" rating and issued a $24.00 target price on shares of First Watch Restaurant Group in a report on Thursday. One investment 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $22.73.

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.