First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Stock Holdings Lowered by Accent Capital Management LLC

Accent Capital Management LLC trimmed its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 52.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,000 shares of the company’s stock after selling 5,500 shares during the period. Accent Capital Management LLC’s holdings in First Watch Restaurant Group were worth $78,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FWRG. Quent Capital LLC acquired a new stake in shares of First Watch Restaurant Group during the 1st quarter valued at $172,000. Swiss National Bank boosted its position in shares of First Watch Restaurant Group by 22.3% in the 1st quarter. Swiss National Bank now owns 64,600 shares of the company’s stock valued at $1,590,000 after purchasing an additional 11,800 shares during the period. Sei Investments Co. increased its stake in First Watch Restaurant Group by 6.5% in the 1st quarter. Sei Investments Co. now owns 29,162 shares of the company’s stock worth $718,000 after purchasing an additional 1,783 shares in the last quarter. Russell Investments Group Ltd. increased its stake in First Watch Restaurant Group by 44.0% in the 1st quarter. Russell Investments Group Ltd. now owns 26,030 shares of the company’s stock worth $641,000 after purchasing an additional 7,952 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in First Watch Restaurant Group by 18.8% during the 1st quarter. Vanguard Group Inc. now owns 1,611,452 shares of the company’s stock worth $39,674,000 after buying an additional 255,307 shares during the period. Institutional investors own 96.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Guggenheim decreased their target price on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating for the company in a report on Friday, October 4th. Stephens raised their price objective on shares of First Watch Restaurant Group from $20.00 to $25.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. TD Cowen increased their target price on First Watch Restaurant Group from $18.00 to $21.00 and gave the company a “hold” rating in a report on Friday, November 8th. Raymond James lifted their price target on First Watch Restaurant Group from $22.00 to $25.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Finally, Piper Sandler increased their price objective on First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.30.

First Watch Restaurant Group Stock Down 3.8 %

FWRG opened at $18.22 on Friday. The company has a market capitalization of $1.10 billion, a PE ratio of 55.21, a price-to-earnings-growth ratio of 5.35 and a beta of 0.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. First Watch Restaurant Group, Inc. has a fifty-two week low of $12.90 and a fifty-two week high of $25.98. The business has a 50-day moving average of $16.26 and a 200-day moving average of $17.21.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $251.61 million for the quarter, compared to the consensus estimate of $256.17 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. First Watch Restaurant Group’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.09 EPS. Equities research analysts forecast that First Watch Restaurant Group, Inc. will post 0.31 EPS for the current fiscal year.

Insider Activity at First Watch Restaurant Group

In related news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $19.76, for a total value of $158,080,000.00. Following the transaction, the insider now directly owns 19,189,784 shares of the company’s stock, valued at approximately $379,190,131.84. This trade represents a 29.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.00% of the stock is owned by company insiders.

First Watch Restaurant Group 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.