Vanguard Group Inc. Increases Stock Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG).

Vanguard Group Inc. increased its holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG – Free Report) by 18.8% during the first quarter, the company said in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,611,452 shares of the company’s stock after acquiring an additional 255,307 shares during the same period. Vanguard Group Inc. owned about 2.67% of First Watch Restaurant Group worth $39,674,000, according to its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FWRG. Sunbelt Securities Inc. acquired a new position in First Watch Restaurant Group in the 1st quarter valued at $65,000. Quent Capital LLC acquired a new position in shares of First Watch Restaurant Group in the 1st quarter valued at approximately $172,000. Accent Capital Management LLC acquired a new position in First Watch Restaurant Group in the 4th quarter valued at approximately $211,000. LVW Advisors LLC acquired a new stake in First Watch Restaurant Group in the 1st quarter valued at approximately $227,000. Finally, Versor Investments LP acquired a new stake in First Watch Restaurant Group in the 4th quarter valued at approximately $259,000. 96.11% of the shares are currently owned by hedge funds and other institutional investors.

Changes in analyst ratings

Several research firms have recently commented on FWRG. TD Cowen reiterated a “hold” rating and gave a $18.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday. Bank of America lowered their price target on shares of First Watch Restaurant Group from $29.00 to $24.00 and gave a “buy” rating on the stock in a research note on Wednesday, July 17. Barclays lowered their price target on First Watch Restaurant Group from $27.00 to $21.00 and gave an “overweight” rating on the company in a research note on Wednesday. Finally, Stifel Nicolaus lowered their price target on First Watch Restaurant Group from $22.00 to $18.00 and gave a “hold” rating on the stock in a research note on Tuesday, July 2. Two equities analysts have rated the stock with a hold rating, three have given a buy rating, and one has given a strong buy rating. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $23.00.

Check out our latest stock report on FWRG

Price development of the First Watch Restaurant Group

NASDAQ:FWRG shares opened at $16.69 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.60 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $16.86 and a 200-day moving average of $20.77. First Watch Restaurant Group, Inc. has a 52-week low of $14.05 and a 52-week high of $25.98. The company has a market cap of $1.01 billion, a P/E ratio of 43.92, a PEG ratio of 2.15 and a beta of 0.88.

First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last announced its quarterly earnings results on Tuesday, August 6. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. First Watch Restaurant Group had a return on equity of 4.15% and a net margin of 2.52%. The company had revenue of $258.60 million for the quarter, compared to analysts’ expectations of $257.65 million. During the same period last year, the company generated earnings per share of $0.13. The company’s quarterly revenue grew 19.6% year-over-year. On average, sell-side analysts expect that First Watch Restaurant Group, Inc. will report earnings per share of $0.37 for the current year.

Company profile of First Watch Restaurant Group

(Free report)

First Watch Restaurant Group, Inc., through its subsidiaries, operates and franchises restaurants in the United States under the trade name First Watch. 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.

More information

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