William Kussell Sells 6,165 Shares of First Watch Restaurant Group (NASDAQ:FWRG) Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director William Kussell sold 6,165 shares of the stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $17.00, for a total transaction of $104,805.00. Following the completion of the sale, the director directly owned 26,402 shares in the company, valued at approximately $448,834. This trade represents a 18.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

First Watch Restaurant Group Price Performance

NASDAQ FWRG opened at $16.03 on Wednesday. First Watch Restaurant Group, Inc. has a 12 month low of $12.90 and a 12 month high of $22.71. The firm has a market capitalization of $978.31 million, a PE ratio of 200.40, a P/E/G ratio of 4.72 and a beta of 0.88. The company’s 50 day simple moving average is $16.49 and its 200 day simple moving average is $16.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.25 and a quick ratio of 0.21.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). First Watch Restaurant Group had a net margin of 0.42% and a return on equity of 0.83%. The firm had revenue of $316.02 million for the quarter, compared to the consensus estimate of $308.31 million. As a group, equities research analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Investors Weigh In On First Watch Restaurant Group

A number of institutional investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of First Watch Restaurant Group by 44.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,160 shares of the company’s stock valued at $214,000 after purchasing an additional 4,353 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in First Watch Restaurant Group by 86.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 29,931 shares of the company’s stock valued at $451,000 after buying an additional 13,861 shares during the period. Capital Management Associates Inc increased its stake in First Watch Restaurant Group by 39.9% in the 4th quarter. Capital Management Associates Inc now owns 18,217 shares of the company’s stock valued at $275,000 after buying an additional 5,194 shares during the period. Allspring Global Investments Holdings LLC lifted its position in First Watch Restaurant Group by 1.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 340,456 shares of the company’s stock worth $5,233,000 after buying an additional 5,207 shares in the last quarter. Finally, Diversified Trust Co. increased its stake in shares of First Watch Restaurant Group by 12.4% in the fourth quarter. Diversified Trust Co. now owns 24,500 shares of the company’s stock worth $369,000 after acquiring an additional 2,700 shares during the last quarter. 96.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FWRG. Barclays lowered their price objective on shares of First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. Zacks Research downgraded First Watch Restaurant Group from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Wall Street Zen upgraded First Watch Restaurant Group from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Watch Restaurant Group in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, First Watch Restaurant Group has a consensus rating of “Moderate Buy” and an average target price of $20.91.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc (NASDAQ: FWRG) operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company’s casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.