Stephens Investment Management Group LLC Has $12.90 Million Stock Holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Stephens Investment Management Group LLC increased its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 37.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 693,359 shares of the company’s stock after buying an additional 189,681 shares during the quarter. Stephens Investment Management Group LLC’s holdings in First Watch Restaurant Group were worth $12,903,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its position in First Watch Restaurant Group by 22.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company’s stock worth $30,988,000 after acquiring an additional 366,227 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of First Watch Restaurant Group by 14.4% during the third quarter. The Manufacturers Life Insurance Company now owns 1,533,290 shares of the company’s stock worth $23,919,000 after purchasing an additional 192,471 shares during the period. Franklin Resources Inc. grew its position in First Watch Restaurant Group by 14.0% during the third quarter. Franklin Resources Inc. now owns 1,114,974 shares of the company’s stock valued at $16,022,000 after purchasing an additional 136,871 shares in the last quarter. WCM Investment Management LLC grew its position in First Watch Restaurant Group by 44.2% during the fourth quarter. WCM Investment Management LLC now owns 947,240 shares of the company’s stock valued at $17,552,000 after purchasing an additional 290,173 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in First Watch Restaurant Group by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 813,670 shares of the company’s stock valued at $12,693,000 after buying an additional 59,508 shares during the period. 96.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the firm’s stock in a transaction dated 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FWRG shares. Piper Sandler lifted their target price on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. TD Cowen lifted their price objective on First Watch Restaurant Group from $18.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Raymond James upped their target price on 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 reiterated an “overweight” rating and set a $25.00 price target on shares of First Watch Restaurant Group in a report on Tuesday, January 28th. Finally, Benchmark restated a “buy” rating and issued a $23.00 price objective on shares of First Watch Restaurant Group in a report on Wednesday, October 16th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.30.

First Watch Restaurant Group Stock Down 1.8 %

FWRG opened at $21.00 on Monday. The firm has a market cap of $1.27 billion, a P/E ratio of 63.64, a price-to-earnings-growth ratio of 3.50 and a beta of 0.91. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.54. The business has a 50 day moving average price of $19.45 and a 200 day moving average price of $17.51. First Watch Restaurant Group, Inc. has a twelve month low of $12.90 and a twelve month high of $25.98.

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 analysts’ consensus estimates of $0.05 by ($0.02). First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The firm had revenue of $251.61 million during the quarter, compared to analyst estimates of $256.17 million. During the same quarter in the previous year, the firm posted $0.09 earnings per share. First Watch Restaurant Group’s quarterly revenue was up 14.8% compared to the same quarter last year. Research analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

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.