William A. Kussell Sells 8,386 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director William A. Kussell sold 8,386 shares of the company’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $22.10, for a total value of $185,330.60. Following the completion of the transaction, the director now owns 12,409 shares in the company, valued at $274,238.90. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

First Watch Restaurant Group Stock Up 1.1 %

NASDAQ FWRG opened at $23.00 on Thursday. First Watch Restaurant Group, Inc. has a 1 year low of $14.74 and a 1 year high of $25.88. The stock has a market capitalization of $1.39 billion, a PE ratio of 56.10, a PEG ratio of 2.07 and a beta of 1.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.62 and a quick ratio of 0.57. The business’s 50-day moving average is $23.92 and its 200 day moving average is $20.77.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results on Tuesday, March 5th. The company reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. The company had revenue of $244.60 million during the quarter, compared to the consensus estimate of $237.20 million. First Watch Restaurant Group had a return on equity of 4.62% and a net margin of 2.85%. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.01) earnings per share. Sell-side analysts forecast that First Watch Restaurant Group, Inc. will post 0.46 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Citigroup boosted their price target on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Barclays increased their price objective on First Watch Restaurant Group from $23.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. TD Cowen reiterated a “hold” rating and set a $26.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, April 10th. Raymond James upped their price objective on shares of First Watch Restaurant Group from $23.00 to $25.00 and gave the company a “strong-buy” rating in a research note on Thursday, January 25th. Finally, Stifel Nicolaus boosted their price target on shares of First Watch Restaurant Group from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.00.

Hedge Funds Weigh In On First Watch Restaurant Group

A number of institutional investors have recently bought and sold shares of FWRG. Invesco Ltd. bought a new stake in First Watch Restaurant Group during the 3rd quarter valued at approximately $8,940,000. 12 West Capital Management LP purchased a new position in shares of First Watch Restaurant Group in the 3rd quarter valued at approximately $3,717,000. Swiss National Bank boosted its position in shares of First Watch Restaurant Group by 53.1% during the third quarter. Swiss National Bank now owns 58,800 shares of the company’s stock valued at $1,017,000 after purchasing an additional 20,400 shares in the last quarter. New York State Common Retirement Fund grew its stake in First Watch Restaurant Group by 201.4% in the third quarter. New York State Common Retirement Fund now owns 75,718 shares of the company’s stock worth $1,309,000 after purchasing an additional 50,599 shares during the period. Finally, Barclays PLC raised its holdings in First Watch Restaurant Group by 48.5% in the third quarter. Barclays PLC now owns 32,264 shares of the company’s stock worth $557,000 after purchasing an additional 10,534 shares in the last quarter. 96.11% of the stock is owned by institutional investors.

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.