Captrust Financial Advisors Takes $190,000 Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Captrust Financial Advisors bought a new stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,193 shares of the company’s stock, valued at approximately $190,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Champlain Investment Partners LLC raised its holdings in shares of First Watch Restaurant Group by 59.0% in the fourth quarter. Champlain Investment Partners LLC now owns 2,582,303 shares of the company’s stock valued at $48,057,000 after buying an additional 958,417 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of First Watch Restaurant Group by 25.6% in the fourth quarter. Vanguard Group Inc. now owns 2,351,614 shares of the company’s stock valued at $43,764,000 after buying an additional 479,741 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of First Watch Restaurant Group by 7.8% in the 4th quarter. JPMorgan Chase & Co. now owns 2,141,209 shares of the company’s stock worth $39,848,000 after acquiring an additional 154,784 shares during the period. 12 West Capital Management LP lifted its stake in shares of First Watch Restaurant Group by 20.2% in the 4th quarter. 12 West Capital Management LP now owns 2,013,406 shares of the company’s stock worth $37,469,000 after acquiring an additional 337,920 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of First Watch Restaurant Group by 15.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,923,901 shares of the company’s stock worth $35,804,000 after acquiring an additional 259,517 shares during the period. 96.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at First Watch Restaurant Group

In other news, CEO Christopher Anthony Tomasso sold 42,039 shares of First Watch Restaurant Group stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $706,675.59. Following the completion of the sale, the chief executive officer now directly owns 389,832 shares in the company, valued at $6,553,075.92. The trade was a 9.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jay Anthony Wolszczak sold 5,743 shares of First Watch Restaurant Group stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $96,539.83. Following the sale, the insider now 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 disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

FWRG has been the subject of several recent analyst reports. Stephens reduced their target price on shares of First Watch Restaurant Group from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. Guggenheim reduced their target price on shares of First Watch Restaurant Group from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. TD Securities reduced their target price on shares of First Watch Restaurant Group from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Stifel Nicolaus set a $17.00 target price on shares of First Watch Restaurant Group in a research note on Wednesday, May 7th. Finally, TD Cowen upgraded shares of First Watch Restaurant Group from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Tuesday, April 1st. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $21.36.

First Watch Restaurant Group Stock Up 2.3%

Shares of NASDAQ FWRG opened at $15.91 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32. First Watch Restaurant Group, Inc. has a 52 week low of $12.90 and a 52 week high of $22.71. The firm has a 50-day moving average price of $17.45 and a 200 day moving average price of $18.70. The stock has a market capitalization of $970.40 million, a price-to-earnings ratio of 48.21, a price-to-earnings-growth ratio of 3.38 and a beta of 1.01.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.05). First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The company had revenue of $282.24 million during the quarter, compared to analyst estimates of $282.98 million. During the same quarter last year, the business earned $0.12 EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. Equities research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

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.