White Pine Capital LLC Increases Stock Position in First Watch Restaurant Group, Inc. $FWRG

White Pine Capital LLC raised its holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 41.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,362 shares of the company’s stock after purchasing an additional 7,480 shares during the quarter. White Pine Capital LLC’s holdings in First Watch Restaurant Group were worth $407,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp boosted its position in shares of 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 purchasing an additional 1,675 shares in the last quarter. First Horizon Advisors Inc. boosted its position in First Watch Restaurant Group by 207.6% during the second quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock worth $31,000 after acquiring an additional 1,316 shares during the last quarter. State of Wyoming grew its position in shares of First Watch Restaurant Group by 83.0% in the first quarter. State of Wyoming now owns 5,882 shares of the company’s stock valued at $98,000 after purchasing an additional 2,668 shares during the period. Police & Firemen s Retirement System of New Jersey increased its stake in shares of First Watch Restaurant Group by 17.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,108 shares of the company’s stock valued at $146,000 after acquiring an additional 1,341 shares during the last quarter. Finally, Wealth Alliance LLC purchased a new position in First Watch Restaurant Group during the second quarter worth approximately $162,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Price Performance

Shares of First Watch Restaurant Group stock opened at $16.57 on Friday. The stock has a market cap of $1.01 billion, a PE ratio of 207.15, a price-to-earnings-growth ratio of 9.18 and a beta of 0.88. First Watch Restaurant Group, Inc. has a 52 week low of $12.90 and a 52 week high of $22.71. The company has a current ratio of 0.25, a quick ratio of 0.21 and a debt-to-equity ratio of 0.41. The company’s 50-day moving average price is $16.71 and its two-hundred day moving average price is $16.86.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The business had revenue of $316.02 million during the quarter, compared to analyst estimates of $308.31 million. First Watch Restaurant Group had a return on equity of 0.83% and a net margin of 0.42%. First Watch Restaurant Group has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

Analysts Set New Price Targets

FWRG has been the subject of a number of research analyst reports. Stephens increased their target price on shares of First Watch Restaurant Group from $23.00 to $24.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 6th. TD Cowen upped their target price on First Watch Restaurant Group from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Wall Street Zen raised First Watch Restaurant Group from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 24th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.09.

Insider Activity

In related news, major shareholder International L.P. Advent sold 4,400,000 shares of First Watch Restaurant Group stock in a transaction on Monday, September 8th. The stock was sold at an average price of $17.67, for a total transaction of $77,748,000.00. Following the completion of the sale, the insider owned 5,289,784 shares of the company’s stock, valued at approximately $93,470,483.28. This trade represents a 45.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.00% of the company’s stock.

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.