William A. Kussell Sells 8,386 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director William A. Kussell sold 8,386 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $22.10, for a total value of $185,330.60. Following the completion of the sale, the director now owns 12,409 shares of the company’s stock, valued at $274,238.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

First Watch Restaurant Group Trading Up 1.1 %

Shares of FWRG opened at $23.00 on Thursday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 0.62. First Watch Restaurant Group, Inc. has a 52-week low of $14.74 and a 52-week high of $25.88. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 56.10, a PEG ratio of 2.07 and a beta of 1.11. The business’s fifty day moving average is $23.92 and its 200-day moving average is $20.77.

First Watch Restaurant Group (NASDAQ:FWRG) last released its earnings results on Tuesday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $237.20 million. First Watch Restaurant Group had a return on equity of 4.62% and a net margin of 2.85%. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) earnings per share. Equities analysts anticipate that First Watch Restaurant Group, Inc. will post 0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FWRG shares. Barclays boosted their target price on shares of First Watch Restaurant Group from $23.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. TD Cowen reissued a “hold” rating and issued a $26.00 price objective on shares of First Watch Restaurant Group in a report on Wednesday, April 10th. Citigroup raised their target price on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Stifel Nicolaus boosted their price target 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. Finally, Raymond James raised their price objective on First Watch Restaurant Group from $23.00 to $25.00 and gave the stock a “strong-buy” rating in a research note on Thursday, January 25th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, First Watch Restaurant Group currently has an average rating of “Moderate Buy” and an average price target of $26.00.

Institutional Investors Weigh In On First Watch Restaurant Group

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Brown Advisory Inc. lifted its stake in First Watch Restaurant Group by 0.4% in the 4th quarter. Brown Advisory Inc. now owns 1,478,407 shares of the company’s stock valued at $29,716,000 after purchasing an additional 6,494 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in First Watch Restaurant Group by 14.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,408,454 shares of the company’s stock worth $28,310,000 after acquiring an additional 175,074 shares during the last quarter. Vanguard Group Inc. increased its holdings in First Watch Restaurant Group by 25.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,311,905 shares of the company’s stock worth $22,683,000 after purchasing an additional 263,101 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of First Watch Restaurant Group by 0.5% during the third quarter. The Manufacturers Life Insurance Company now owns 1,233,380 shares of the company’s stock valued at $21,325,000 after purchasing an additional 5,889 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC grew its holdings in shares of First Watch Restaurant Group by 9.6% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,074,612 shares of the company’s stock worth $21,600,000 after purchasing an additional 93,931 shares during the last quarter. 96.11% of the stock is owned by institutional investors.

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.