Bessemer Group Inc. Purchases 13,705 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Bessemer Group Inc. increased its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 52.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 39,792 shares of the company’s stock after purchasing an additional 13,705 shares during the period. Bessemer Group Inc. owned 0.07% of First Watch Restaurant Group worth $741,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. increased its holdings in shares of First Watch Restaurant Group by 68.7% during the 4th quarter. Assetmark Inc. now owns 2,455 shares of the company’s stock worth $46,000 after acquiring an additional 1,000 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of First Watch Restaurant Group during the 4th quarter worth about $51,000. Venturi Wealth Management LLC bought a new stake in shares of First Watch Restaurant Group during the 4th quarter worth about $81,000. XTX Topco Ltd acquired a new position in First Watch Restaurant Group in the 3rd quarter valued at about $157,000. Finally, American Century Companies Inc. bought a new position in First Watch Restaurant Group in the 4th quarter valued at about $200,000. Institutional investors and hedge funds own 96.11% of the company’s stock.

Insiders Place Their Bets

In other First Watch Restaurant Group news, CEO Christopher Anthony Tomasso sold 42,039 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $706,675.59. Following the sale, the chief executive officer now owns 389,832 shares in the company, valued at $6,553,075.92. This trade represents a 9.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jay Anthony Wolszczak sold 5,743 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $96,539.83. Following the transaction, the insider now owns 37,768 shares of the company’s stock, valued at $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. Insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Bank of America increased their target price on First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. Barclays restated an “overweight” rating and issued a $21.00 price target (down from $24.00) on shares of First Watch Restaurant Group in a research note on Tuesday, March 11th. TD Securities upgraded shares of First Watch Restaurant Group from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $21.00 to $22.00 in a research note on Tuesday, April 1st. TD Cowen raised shares of First Watch Restaurant Group from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Tuesday, April 1st. Finally, Benchmark reaffirmed a “buy” rating on shares of First Watch Restaurant Group in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $22.45.

First Watch Restaurant Group Stock Performance

Shares of First Watch Restaurant Group stock opened at $17.74 on Tuesday. The company has a 50 day moving average of $18.52 and a 200-day moving average of $18.32. The company has a market cap of $1.08 billion, a PE ratio of 53.76, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. First Watch Restaurant Group, Inc. has a 1-year low of $12.90 and a 1-year high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The business had revenue of $263.30 million during the quarter, compared to analyst estimates of $262.82 million. During the same period in the prior year, the business posted $0.04 EPS. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current fiscal year.

First Watch Restaurant Group Profile

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.