Wellington Management Group LLP Increases Stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Wellington Management Group LLP boosted its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 5.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 401,062 shares of the company’s stock after purchasing an additional 22,024 shares during the quarter. Wellington Management Group LLP owned about 0.67% of First Watch Restaurant Group worth $8,061,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale purchased a new stake in shares of First Watch Restaurant Group during the 3rd quarter valued at $35,000. iA Global Asset Management Inc. purchased a new stake in First Watch Restaurant Group during the third quarter valued at about $95,000. AXQ Capital LP acquired a new stake in First Watch Restaurant Group during the third quarter worth about $183,000. Versor Investments LP purchased a new position in shares of First Watch Restaurant Group in the 4th quarter worth about $259,000. Finally, Premier Fund Managers Ltd acquired a new position in shares of First Watch Restaurant Group in the 4th quarter valued at about $273,000. Institutional investors and hedge funds own 96.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on FWRG. Barclays dropped their target price on shares of First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Citigroup upped 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 report on Wednesday, March 6th. TD Cowen lowered their price target on First Watch Restaurant Group from $25.00 to $21.00 and set a “hold” rating for the company in a report on Thursday, June 13th. Finally, Stifel Nicolaus boosted their price objective on 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 given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $24.83.

First Watch Restaurant Group Stock Down 3.4 %

Shares of First Watch Restaurant Group stock opened at $17.60 on Friday. First Watch Restaurant Group, Inc. has a 1-year low of $16.19 and a 1-year high of $25.98. The company has a market capitalization of $1.06 billion, a PE ratio of 46.32, a P/E/G ratio of 2.31 and a beta of 0.93. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.60 and a quick ratio of 0.55. The business has a 50-day moving average of $20.29 and a 200-day moving average of $21.56.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. The firm had revenue of $242.40 million during the quarter, compared to analyst estimates of $245.03 million. First Watch Restaurant Group had a return on equity of 4.15% and a net margin of 2.52%. First Watch Restaurant Group’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.15 EPS. As a group, equities analysts forecast that First Watch Restaurant Group, Inc. will post 0.39 EPS for the current fiscal year.

Insider Buying and Selling at First Watch Restaurant Group

In other news, Director William A. Kussell sold 8,386 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $22.10, for a total value of $185,330.60. Following the completion of the sale, the director now owns 12,409 shares of the company’s stock, valued at approximately $274,238.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.00% of the stock is currently owned by 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.