Moody National Bank Trust Division Takes $189,000 Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Moody National Bank Trust Division purchased a new stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRGGet Rating) during the 2nd quarter, HoldingsChannel reports. The fund purchased 13,100 shares of the company’s stock, valued at approximately $189,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Point72 Hong Kong Ltd bought a new stake in First Watch Restaurant Group during the 4th quarter worth approximately $69,000. Quantbot Technologies LP bought a new stake in First Watch Restaurant Group during the 1st quarter worth approximately $92,000. GSA Capital Partners LLP bought a new stake in First Watch Restaurant Group during the 1st quarter worth approximately $133,000. PDT Partners LLC bought a new stake in First Watch Restaurant Group during the 1st quarter worth approximately $137,000. Finally, Rhumbline Advisers bought a new stake in First Watch Restaurant Group during the 1st quarter worth approximately $137,000. Institutional investors own 95.47% of the company’s stock.

Analyst Ratings Changes

FWRG has been the topic of a number of analyst reports. Citigroup upped their target price on shares of First Watch Restaurant Group to $23.00 in a report on Monday, August 15th. Stifel Nicolaus boosted their price target on shares of First Watch Restaurant Group from $20.00 to $23.00 in a research note on Tuesday, August 9th. Barclays boosted their price target on shares of First Watch Restaurant Group from $16.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, June 9th. Cowen boosted their price target on shares of First Watch Restaurant Group from $15.00 to $18.50 and gave the stock a “market perform” rating in a research note on Wednesday, August 10th. Finally, The Goldman Sachs Group boosted their price target on shares of First Watch Restaurant Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, First Watch Restaurant Group presently has an average rating of “Moderate Buy” and a consensus price target of $22.68.

First Watch Restaurant Group Price Performance

Shares of First Watch Restaurant Group stock opened at $15.18 on Wednesday. First Watch Restaurant Group, Inc. has a 52-week low of $11.57 and a 52-week high of $25.46. The stock has a market capitalization of $896.83 million and a price-to-earnings ratio of 216.89. The company has a fifty day moving average of $16.73 and a 200-day moving average of $14.66. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.71 and a current ratio of 0.75.

First Watch Restaurant Group (NASDAQ:FWRGGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. First Watch Restaurant Group had a net margin of 0.51% and a return on equity of 0.75%. The company had revenue of $184.45 million during the quarter, compared to analysts’ expectations of $176.97 million. Equities research analysts expect that First Watch Restaurant Group, Inc. will post 0.2 EPS for the current year.

First Watch Restaurant Group Profile

(Get Rating)

First Watch Restaurant Group, Inc operates and franchises restaurants under the First Watch trade name. As of September 7, 2022, it operated 445 restaurants in 28 states 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.

Further Reading

Want to see what other hedge funds are holding FWRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Watch Restaurant Group, Inc. (NASDAQ:FWRGGet Rating).

Institutional Ownership by Quarter for First Watch Restaurant Group (NASDAQ:FWRG)

Receive News & Ratings for First Watch Restaurant Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Watch Restaurant Group and related companies with MarketBeat.com's FREE daily email newsletter.