First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Shares Purchased by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC raised its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 33.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 503,678 shares of the company’s stock after buying an additional 125,452 shares during the quarter. Stephens Investment Management Group LLC owned about 0.83% of First Watch Restaurant Group worth $7,857,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in FWRG. Deepwater Asset Management LLC boosted its holdings in First Watch Restaurant Group by 68.5% in the second quarter. Deepwater Asset Management LLC now owns 695,649 shares of the company’s stock valued at $12,216,000 after acquiring an additional 282,765 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in First Watch Restaurant Group by 26.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,340,819 shares of the company’s stock valued at $23,545,000 after acquiring an additional 281,056 shares during the last quarter. Vanguard Group Inc. boosted its holdings in First Watch Restaurant Group by 18.8% in the first quarter. Vanguard Group Inc. now owns 1,611,452 shares of the company’s stock valued at $39,674,000 after acquiring an additional 255,307 shares during the last quarter. Nicholas Investment Partners LP acquired a new position in First Watch Restaurant Group in the second quarter valued at $3,391,000. Finally, Dimensional Fund Advisors LP boosted its holdings in First Watch Restaurant Group by 15.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,385,972 shares of the company’s stock valued at $24,338,000 after acquiring an additional 189,740 shares during the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Stock Up 1.0 %

Shares of NASDAQ FWRG opened at $17.17 on Friday. First Watch Restaurant Group, Inc. has a 1 year low of $12.90 and a 1 year high of $25.98. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 44.03, a PEG ratio of 4.61 and a beta of 0.87. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.57. The stock’s 50-day simple moving average is $15.71 and its 200-day simple moving average is $17.52.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results on Tuesday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $258.60 million for the quarter, compared to analyst estimates of $257.65 million. First Watch Restaurant Group had a return on equity of 4.24% and a net margin of 2.51%. The company’s revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 earnings per share. As a group, equities analysts anticipate that First Watch Restaurant Group, Inc. will post 0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Barclays reduced their target price on First Watch Restaurant Group from $21.00 to $18.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Stephens assumed coverage on First Watch Restaurant Group in a research note on Thursday, October 17th. They set an “overweight” rating and a $20.00 price objective on the stock. Bank of America reduced their price objective on First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Benchmark restated a “buy” rating and set a $23.00 price objective on shares of First Watch Restaurant Group in a research note on Wednesday, October 16th. Finally, Guggenheim reduced their price objective on First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

First Watch Restaurant Group Company 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.