American Century Companies Inc. Purchases 39,592 Shares of First Watch Restaurant Group, Inc. $FWRG

American Century Companies Inc. boosted its position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 369.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 50,320 shares of the company’s stock after acquiring an additional 39,592 shares during the period. American Century Companies Inc. owned 0.08% of First Watch Restaurant Group worth $838,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its holdings in shares of First Watch Restaurant Group by 100.5% during the first quarter. Russell Investments Group Ltd. now owns 215,283 shares of the company’s stock worth $3,584,000 after purchasing an additional 107,911 shares in the last quarter. Nuveen LLC purchased a new position in shares of First Watch Restaurant Group during the first quarter worth about $1,085,000. Invesco Ltd. grew its holdings in shares of First Watch Restaurant Group by 86.9% during the first quarter. Invesco Ltd. now owns 45,198 shares of the company’s stock worth $753,000 after purchasing an additional 21,009 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of First Watch Restaurant Group by 3.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 320,706 shares of the company’s stock worth $5,340,000 after purchasing an additional 10,855 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of First Watch Restaurant Group by 2.0% during the first quarter. Vanguard Group Inc. now owns 2,398,180 shares of the company’s stock worth $39,930,000 after purchasing an additional 46,566 shares in the last quarter. 96.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Bank of America cut their target price on First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, July 18th. Benchmark upped their target price on First Watch Restaurant Group from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, August 6th. Barclays upped their target price on First Watch Restaurant Group from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Thursday, July 17th. TD Securities reaffirmed a “buy” rating and issued a $19.00 target price on shares of First Watch Restaurant Group in a research note on Wednesday, June 4th. Finally, Guggenheim cut their target price on 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. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $21.09.

Insider Transactions at First Watch Restaurant Group

In other First Watch Restaurant Group news, major shareholder International L.P. Advent sold 5,000,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $17.70, for a total value of $88,500,000.00. Following the transaction, the insider directly owned 9,689,784 shares of the company’s stock, valued at approximately $171,509,176.80. This trade represents a 34.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.00% of the company’s stock.

First Watch Restaurant Group Price Performance

Shares of First Watch Restaurant Group stock opened at $18.66 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.27 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.14 billion, a PE ratio of 311.05, a P/E/G ratio of 6.54 and a beta of 0.92. The business has a 50 day moving average of $17.67 and a 200 day moving average of $17.46. First Watch Restaurant Group, Inc. has a 52 week low of $12.90 and a 52 week high of $22.71.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.04). First Watch Restaurant Group had a return on equity of 0.69% and a net margin of 0.37%.The firm had revenue of $307.89 million during the quarter, compared to the consensus estimate of $304.94 million. During the same quarter last year, the company posted $0.14 EPS. First Watch Restaurant Group’s revenue for the quarter was up 19.1% compared to the same quarter last year. First Watch Restaurant Group has set its FY 2025 guidance at EPS. As a group, equities research analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current 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.