B. Metzler seel. Sohn & Co. Holding AG Takes Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 100,367 shares of the company’s stock, valued at approximately $1,566,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FWRG. Vanguard Group Inc. raised its position in shares of First Watch Restaurant Group by 18.8% during the first quarter. Vanguard Group Inc. now owns 1,611,452 shares of the company’s stock worth $39,674,000 after purchasing an additional 255,307 shares during the period. Dimensional Fund Advisors LP increased its stake in First Watch Restaurant Group by 15.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,385,972 shares of the company’s stock worth $24,338,000 after purchasing an additional 189,740 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in First Watch Restaurant Group by 26.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,340,819 shares of the company’s stock worth $23,545,000 after buying an additional 281,056 shares during the period. Deepwater Asset Management LLC lifted its stake in First Watch Restaurant Group by 15.4% in the third quarter. Deepwater Asset Management LLC now owns 802,625 shares of the company’s stock valued at $12,521,000 after buying an additional 106,976 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of First Watch Restaurant Group by 17.1% in the first quarter. Capital Research Global Investors now owns 776,545 shares of the company’s stock valued at $19,119,000 after buying an additional 113,555 shares during the period. 96.11% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other First Watch Restaurant Group news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $19.76, for a total value of $158,080,000.00. Following the transaction, the insider now directly owns 19,189,784 shares of the company’s stock, valued at $379,190,131.84. This represents a 29.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 5.00% of the company’s stock.

First Watch Restaurant Group Stock Performance

Shares of FWRG stock opened at $18.24 on Friday. The stock has a market cap of $1.10 billion, a P/E ratio of 55.27, a P/E/G ratio of 5.04 and a beta of 0.85. The company has a fifty day moving average price of $16.51 and a two-hundred day moving average price of $17.01. First Watch Restaurant Group, Inc. has a one year low of $12.90 and a one year high of $25.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data 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). First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The business had revenue of $251.61 million during the quarter, compared to the consensus estimate of $256.17 million. During the same quarter in the prior year, the company earned $0.09 EPS. First Watch Restaurant Group’s quarterly revenue was up 14.8% on a year-over-year basis. As a group, equities analysts predict that First Watch Restaurant Group, Inc. will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. TD Cowen boosted their price objective on shares of 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. Barclays upped their price objective on First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Raymond James increased their price objective on First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Benchmark restated a “buy” rating and issued a $23.00 target price on shares of First Watch Restaurant Group in a research note on Wednesday, October 16th. Finally, Stephens increased their target price on shares of First Watch Restaurant Group from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Two equities research 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’s stock. Based on data from MarketBeat, the company currently 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.