First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director David Paresky Sells 4,025,000 Shares

First Watch Restaurant Group, Inc. (NASDAQ:FWRG – Get Rating) Director David Paresky sold 4,025,000 shares of the business’s stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $15.47, for a total value of $62,266,750.00. Following the transaction, the director now owns 37,539,784 shares in the company, valued at $580,740,458.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

First Watch Restaurant Group Stock Up 0.1 %

Shares of FWRG opened at $18.03 on Tuesday. First Watch Restaurant Group, Inc. has a 52 week low of $12.45 and a 52 week high of $18.95. The company has a quick ratio of 0.72, a current ratio of 0.77 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of 94.90, a PEG ratio of 1.93 and a beta of 1.08. The stock’s 50-day moving average price is $15.95 and its 200-day moving average price is $15.50.

First Watch Restaurant Group (NASDAQ:FWRG – Get Rating) last issued its earnings results on Tuesday, March 7th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). First Watch Restaurant Group had a return on equity of 2.22% and a net margin of 1.51%. The company had revenue of $185.75 million during the quarter, compared to analysts’ expectations of $186.63 million. On average, sell-side analysts predict that First Watch Restaurant Group, Inc. will post 0.3 EPS for the current year.

Analyst Ratings Changes

FWRG has been the topic of several research analyst reports. TD Cowen restated a “market perform” rating and set a $17.00 target price on shares of First Watch Restaurant Group in a research note on Wednesday, March 8th. Raymond James dropped their price target on First Watch Restaurant Group from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 8th. Citigroup dropped their price target on First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, March 8th. Barclays boosted their price target on First Watch Restaurant Group from $19.00 to $21.00 in a research note on Wednesday, May 3rd. Finally, 3M reiterated a “maintains” rating on shares of First Watch Restaurant Group in a research note on Wednesday, May 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.75.

Institutional Trading of First Watch Restaurant Group

Hedge funds have recently modified their holdings of the stock. RK Capital Management LLC boosted its stake in shares of First Watch Restaurant Group by 16.5% in the third quarter. RK Capital Management LLC now owns 636,100 shares of the company’s stock worth $9,211,000 after buying an additional 90,200 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in First Watch Restaurant Group by 7.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 17,183 shares of the company’s stock worth $232,000 after purchasing an additional 1,163 shares during the period. Federated Hermes Inc. raised its holdings in First Watch Restaurant Group by 23.4% in the 3rd quarter. Federated Hermes Inc. now owns 1,580,300 shares of the company’s stock worth $22,883,000 after purchasing an additional 300,000 shares during the period. Quantbot Technologies LP acquired a new position in First Watch Restaurant Group in the 3rd quarter worth about $93,000. Finally, Royce & Associates LP raised its holdings in First Watch Restaurant Group by 10.3% in the 3rd quarter. Royce & Associates LP now owns 43,000 shares of the company’s stock worth $623,000 after purchasing an additional 4,000 shares during the period. Hedge funds and other institutional investors own 96.36% of the company’s stock.

First Watch Restaurant Group Company Profile

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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.