Diversified Trust Co Has $541,000 Stock Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Diversified Trust Co increased its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 84.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,051 shares of the company’s stock after buying an additional 13,301 shares during the quarter. Diversified Trust Co’s holdings in First Watch Restaurant Group were worth $541,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FWRG. Rocky Mountain Advisers LLC lifted its stake in First Watch Restaurant Group by 180.1% in the third quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company’s stock valued at $103,000 after acquiring an additional 4,250 shares during the last quarter. SG Americas Securities LLC acquired a new stake in First Watch Restaurant Group in the 3rd quarter valued at about $119,000. XTX Topco Ltd bought a new position in First Watch Restaurant Group during the third quarter worth about $157,000. Versor Investments LP acquired a new position in First Watch Restaurant Group during the third quarter worth approximately $201,000. Finally, Commerce Bank bought a new stake in First Watch Restaurant Group in the third quarter valued at approximately $208,000. 96.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

FWRG has been the topic of a number of recent analyst reports. Benchmark reissued a “buy” rating and set a $23.00 target price on shares of First Watch Restaurant Group in a report on Wednesday, October 16th. Barclays increased their price objective on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Piper Sandler lifted their target price 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. 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 report on Friday, November 8th. Finally, TD Cowen boosted their price objective on First Watch Restaurant Group from $18.00 to $21.00 and gave the stock a “hold” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, First Watch Restaurant Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.30.

First Watch Restaurant Group Trading Down 1.3 %

Shares of FWRG stock opened at $19.12 on Friday. The stock has a 50 day simple moving average of $18.94 and a 200 day simple moving average of $16.97. First Watch Restaurant Group, Inc. has a 1 year low of $12.90 and a 1 year high of $25.98. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.16 billion, a P/E ratio of 57.94, a price-to-earnings-growth ratio of 5.68 and a beta of 0.89.

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

Insider Buying and Selling at First Watch Restaurant Group

In other First Watch Restaurant Group news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the firm’s stock in a transaction 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 sale, the insider now 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 5.00% of the company’s stock.

About First Watch Restaurant Group

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.