Stephens Investment Management Group LLC Has $12.33 Million Stake in First Watch Restaurant Group, Inc. $FWRG

Stephens Investment Management Group LLC raised its position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 8.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 768,962 shares of the company’s stock after acquiring an additional 60,299 shares during the period. Stephens Investment Management Group LLC’s holdings in First Watch Restaurant Group were worth $12,334,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of FWRG. GAMMA Investing LLC grew its stake in shares of First Watch Restaurant Group by 1,617.7% during the first quarter. GAMMA Investing LLC now owns 5,445 shares of the company’s stock valued at $91,000 after purchasing an additional 5,128 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of First Watch Restaurant Group by 19.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 13,039 shares of the company’s stock valued at $217,000 after purchasing an additional 2,083 shares during the last quarter. Avory & Company LLC bought a new stake in shares of First Watch Restaurant Group during the first quarter valued at approximately $5,687,000. Sumitomo Mitsui Trust Group Inc. bought a new stake in shares of First Watch Restaurant Group during the first quarter valued at approximately $259,000. Finally, Bank of New York Mellon Corp grew its stake in shares of First Watch Restaurant Group by 203.6% during the first quarter. Bank of New York Mellon Corp now owns 238,661 shares of the company’s stock valued at $3,974,000 after purchasing an additional 160,040 shares during the last quarter. 96.11% of the stock is owned by institutional investors.

First Watch Restaurant Group Trading Up 1.5%

FWRG opened at $18.66 on Thursday. The stock has a market capitalization of $1.14 billion, a P/E ratio of 311.05, a P/E/G ratio of 6.02 and a beta of 0.87. First Watch Restaurant Group, Inc. has a 12 month low of $12.90 and a 12 month high of $22.71. The firm’s fifty day simple moving average is $17.23 and its 200 day simple moving average is $17.06. The company has a current ratio of 0.27, a quick ratio of 0.23 and a debt-to-equity ratio of 0.42.

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

Insider Buying and Selling

In other First Watch Restaurant Group news, major shareholder International L.P. Advent sold 4,400,000 shares of the business’s stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $17.67, for a total transaction of $77,748,000.00. Following the sale, the insider directly owned 5,289,784 shares of the company’s stock, valued at $93,470,483.28. The trade was a 45.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 6.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Bank of America reduced their price objective on shares of First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Friday, July 18th. Zacks Research cut shares of First Watch Restaurant Group from a “hold” rating to a “strong sell” rating in a research note on Monday, October 6th. Raymond James Financial raised their price objective on shares of First Watch Restaurant Group from $21.00 to $22.00 and gave the company a “strong-buy” rating in a research note on Thursday, July 17th. TD Cowen raised their price objective on shares of First Watch Restaurant Group from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Finally, Barclays boosted their target price on First Watch Restaurant Group from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Thursday, July 17th. One equities 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 company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $21.09.

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.