Jefferies Financial Group Inc. Invests $660,000 in First Watch Restaurant Group, Inc. $FWRG

Jefferies Financial Group Inc. bought a new position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) during the 2nd quarter, HoldingsChannel reports. The fund bought 51,200 shares of the company’s stock, valued at approximately $660,000.

Other hedge funds also recently modified their holdings of the company. Legal & General Group Plc raised its stake in First Watch Restaurant Group by 1.6% in the second quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock valued at $730,000 after purchasing an additional 724 shares in the last quarter. California State Teachers Retirement System grew its stake in First Watch Restaurant Group by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 46,092 shares of the company’s stock worth $695,000 after buying an additional 832 shares in the last quarter. Diversified Trust Co grew its stake in First Watch Restaurant Group by 4.7% during the first quarter. Diversified Trust Co now owns 25,654 shares of the company’s stock worth $269,000 after buying an additional 1,154 shares in the last quarter. Kornitzer Capital Management Inc. KS grew its stake in First Watch Restaurant Group by 0.5% during the first quarter. Kornitzer Capital Management Inc. KS now owns 310,837 shares of the company’s stock worth $3,258,000 after buying an additional 1,450 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in First Watch Restaurant Group by 11.1% in the 4th quarter. Intech Investment Management LLC now owns 16,041 shares of the company’s stock valued at $242,000 after buying an additional 1,606 shares during the period. Institutional investors own 96.11% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FWRG. Freedom Capital raised shares of First Watch Restaurant Group to a “strong-buy” rating in a report on Wednesday, July 1st. Weiss Ratings raised shares of First Watch Restaurant Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. Stephens restated an “overweight” rating and set a $21.00 price objective on shares of First Watch Restaurant Group in a research report on Wednesday, May 6th. Citigroup cut their target price on First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, August 5th. Finally, Guggenheim cut their target price on First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $18.56.

First Watch Restaurant Group Stock Performance

First Watch Restaurant Group stock opened at $12.68 on Tuesday. First Watch Restaurant Group, Inc. has a 12-month low of $9.97 and a 12-month high of $19.15. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $12.57 and its two-hundred day moving average price is $12.29. The stock has a market cap of $782.48 million, a PE ratio of 43.73, a P/E/G ratio of 20.85 and a beta of 1.03.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its earnings results on Tuesday, August 4th. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business had revenue of $354.67 million for the quarter, compared to analyst estimates of $351.57 million. First Watch Restaurant Group had a return on equity of 2.85% and a net margin of 1.35%.The firm’s revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.03 EPS. As a group, analysts expect that First Watch Restaurant Group, Inc. will post 0.15 earnings per share for the current fiscal year.

First Watch Restaurant Group Profile

First Watch Restaurant Group, Inc (NASDAQ: FWRG) operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company’s casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.