Diversified Trust Co Purchases 13,301 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Diversified Trust Co lifted its position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 84.5% during the 4th quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FWRG. Bank of New York Mellon Corp grew its holdings in First Watch Restaurant Group by 44.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 103,935 shares of the company’s stock worth $1,825,000 after acquiring an additional 31,907 shares during the last quarter. Rhumbline Advisers increased its holdings in First Watch Restaurant Group by 25.0% in the second quarter. Rhumbline Advisers now owns 38,106 shares of the company’s stock valued at $669,000 after purchasing an additional 7,631 shares during the period. Victory Capital Management Inc. raised its position in First Watch Restaurant Group by 163.9% during the 2nd quarter. Victory Capital Management Inc. now owns 59,361 shares of the company’s stock worth $1,042,000 after purchasing an additional 36,870 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 buying an additional 189,740 shares during the period. Finally, Sei Investments Co. grew its position in shares of First Watch Restaurant Group by 112.6% in the 2nd quarter. Sei Investments Co. now owns 62,011 shares of the company’s stock valued at $1,089,000 after buying an additional 32,849 shares during the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

Insider Activity 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 First Watch Restaurant Group stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $19.76, for a total transaction of $158,080,000.00. Following the completion of the transaction, the insider now owns 19,189,784 shares in the company, valued at approximately $379,190,131.84. The trade was a 29.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.00% of the stock is currently owned by insiders.

First Watch Restaurant Group Price Performance

Shares of NASDAQ FWRG opened at $19.12 on Friday. 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 firm’s 50-day moving average price is $18.94 and its 200-day moving average price is $16.97. The firm has a market capitalization of $1.16 billion, a P/E ratio of 57.94, a P/E/G ratio of 5.68 and a beta of 0.89. First Watch Restaurant Group, Inc. has a 1-year low of $12.90 and a 1-year high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly 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 firm had revenue of $251.61 million during the quarter, compared to the consensus estimate of $256.17 million. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 EPS. Equities research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Raymond James lifted their price objective on First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a research note on Friday, November 8th. TD Cowen boosted their price target on shares of First Watch Restaurant Group from $18.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Stephens increased 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. Benchmark restated a “buy” rating and issued a $23.00 target price on shares of First Watch Restaurant Group in a report on Wednesday, October 16th. Finally, Guggenheim cut their price target on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, First Watch Restaurant Group has a consensus rating of “Moderate Buy” and a consensus target price 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.