Zurcher Kantonalbank Zurich Cantonalbank Sells 918 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 14.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,295 shares of the company’s stock after selling 918 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in First Watch Restaurant Group were worth $106,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Quantbot Technologies LP raised its position in First Watch Restaurant Group by 6.1% during the third quarter. Quantbot Technologies LP now owns 10,972 shares of the company’s stock valued at $190,000 after purchasing an additional 633 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of First Watch Restaurant Group during the 3rd quarter valued at about $35,000. PNC Financial Services Group Inc. lifted its position in First Watch Restaurant Group by 3,232.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,233 shares of the company’s stock worth $39,000 after buying an additional 2,166 shares during the last quarter. iA Global Asset Management Inc. purchased a new stake in First Watch Restaurant Group in the third quarter worth approximately $95,000. Finally, Jump Financial LLC grew its position in First Watch Restaurant Group by 15.6% during the third quarter. Jump Financial LLC now owns 41,267 shares of the company’s stock valued at $714,000 after acquiring an additional 5,567 shares during the last quarter. 96.11% of the stock is owned by institutional investors.

Insider Activity

In other First Watch Restaurant Group news, insider Eric Richard Hartman sold 1,474 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $25.03, for a total value of $36,894.22. Following the completion of the sale, the insider now directly owns 51,417 shares in the company, valued at $1,286,967.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Tricia Glynn sold 6,900,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $23.99, for a total transaction of $165,531,000.00. Following the sale, the director now owns 27,189,784 shares in the company, valued at approximately $652,282,918.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Eric Richard Hartman sold 1,474 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $25.03, for a total transaction of $36,894.22. Following the completion of the transaction, the insider now owns 51,417 shares of the company’s stock, valued at $1,286,967.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,085,127 shares of company stock valued at $170,038,222. Corporate insiders own 5.00% of the company’s stock.

First Watch Restaurant Group Trading Down 2.4 %

FWRG opened at $21.33 on Friday. First Watch Restaurant Group, Inc. has a one year low of $15.67 and a one year high of $25.98. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.62 and a quick ratio of 0.57. The business has a 50 day simple moving average of $23.79 and a two-hundred day simple moving average of $21.27. The firm has a market capitalization of $1.29 billion, a price-to-earnings ratio of 52.03, a PEG ratio of 2.35 and a beta of 1.07.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The company had revenue of $242.40 million during the quarter, compared to the consensus estimate of $245.03 million. First Watch Restaurant Group had a return on equity of 4.62% and a net margin of 2.85%. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 earnings per share. Analysts predict that First Watch Restaurant Group, Inc. will post 0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FWRG. Citigroup upped their price objective on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. TD Cowen decreased their price objective on First Watch Restaurant Group from $26.00 to $25.00 and set a “hold” rating on the stock in a report on Wednesday. Raymond James increased their target price on First Watch Restaurant Group from $23.00 to $25.00 and gave the company a “strong-buy” rating in a report on Thursday, January 25th. Barclays decreased their price target on First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus increased their price objective on First Watch Restaurant Group from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, First Watch Restaurant Group presently has a consensus rating of “Moderate Buy” and an average target price of $25.50.

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.