White Pine Capital LLC Makes New $331,000 Investment in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

White Pine Capital LLC bought a new stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 17,783 shares of the company’s stock, valued at approximately $331,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in First Watch Restaurant Group during the third quarter valued at approximately $119,000. Raymond James & Associates increased its stake in shares of First Watch Restaurant Group by 26.1% in the 3rd quarter. Raymond James & Associates now owns 285,007 shares of the company’s stock valued at $4,446,000 after purchasing an additional 58,994 shares during the last quarter. Deepwater Asset Management LLC raised its holdings in shares of First Watch Restaurant Group by 15.4% during the 3rd quarter. Deepwater Asset Management LLC now owns 802,625 shares of the company’s stock worth $12,521,000 after buying an additional 106,976 shares in the last quarter. Rice Hall James & Associates LLC lifted its position in shares of First Watch Restaurant Group by 164.0% during the 3rd quarter. Rice Hall James & Associates LLC now owns 87,799 shares of the company’s stock worth $1,370,000 after buying an additional 54,546 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its stake in First Watch Restaurant Group by 33.2% in the third quarter. Stephens Investment Management Group LLC now owns 503,678 shares of the company’s stock valued at $7,857,000 after buying an additional 125,452 shares in the last quarter. Institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Stock Up 5.1 %

Shares of NASDAQ:FWRG opened at $20.50 on Friday. The business has a fifty day simple moving average of $19.55 and a 200 day simple moving average of $17.62. First Watch Restaurant Group, Inc. has a 12-month low of $12.90 and a 12-month high of $25.98. The firm has a market cap of $1.24 billion, a P/E ratio of 62.12, a P/E/G ratio of 3.50 and a beta of 0.91. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32.

Analysts Set New Price Targets

Several research analysts have commented on the company. Barclays boosted their target price on First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Raymond James upped their price objective on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Stephens restated an “overweight” rating and issued a $25.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday, January 28th. Piper Sandler upped their price target on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, TD Cowen raised their price objective 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. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, First Watch Restaurant Group has an average rating of “Moderate Buy” and an average price target of $23.30.

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.