WCM Investment Management LLC Has $11.87 Million Stock Position in First Watch Restaurant Group, Inc. $FWRG

WCM Investment Management LLC reduced its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 22.3% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 736,931 shares of the company’s stock after selling 211,501 shares during the period. WCM Investment Management LLC’s holdings in First Watch Restaurant Group were worth $11,872,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Fifth Third Bancorp raised its holdings in First Watch Restaurant Group by 8,815.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,694 shares of the company’s stock worth $27,000 after buying an additional 1,675 shares during the period. GAMMA Investing LLC grew its stake in shares of First Watch Restaurant Group by 1,617.7% during the 1st quarter. GAMMA Investing LLC now owns 5,445 shares of the company’s stock worth $91,000 after acquiring an additional 5,128 shares in the last quarter. State of Wyoming grew its stake in shares of First Watch Restaurant Group by 83.0% during the 1st quarter. State of Wyoming now owns 5,882 shares of the company’s stock worth $98,000 after acquiring an additional 2,668 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of First Watch Restaurant Group by 85.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,807 shares of the company’s stock worth $163,000 after acquiring an additional 4,512 shares in the last quarter. Finally, LVW Advisors LLC bought a new position in shares of First Watch Restaurant Group during the 2nd quarter worth approximately $173,000. 96.11% of the stock is currently owned by institutional investors and hedge funds.

First Watch Restaurant Group Price Performance

NASDAQ:FWRG opened at $17.59 on Friday. First Watch Restaurant Group, Inc. has a 1-year low of $12.90 and a 1-year high of $22.71. The company has a current ratio of 0.27, a quick ratio of 0.23 and a debt-to-equity ratio of 0.42. The firm has a fifty day simple moving average of $17.19 and a 200 day simple moving average of $17.04. The stock has a market capitalization of $1.07 billion, a PE ratio of 293.22, a P/E/G ratio of 5.83 and a beta of 0.87.

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

Insider Buying and Selling at First Watch Restaurant Group

In related news, major shareholder International L.P. Advent sold 5,000,000 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were sold at an average price of $17.70, for a total value of $88,500,000.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on FWRG. Stephens raised their price target on shares of First Watch Restaurant Group from $23.00 to $24.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of First Watch Restaurant Group in a research note on Wednesday, October 8th. Benchmark raised their price target on shares of 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. TD Cowen raised their price target on shares of First Watch Restaurant Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. Finally, Wall Street Zen cut shares of First Watch Restaurant Group from a “hold” rating to a “sell” rating in a research note on Saturday, October 11th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, First Watch Restaurant Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.09.

First Watch Restaurant Group Company 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.