William A. Kussell Sells 8,386 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director William A. Kussell sold 8,386 shares of the company’s stock in a transaction on 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 transaction, the director now owns 12,409 shares of the company’s stock, valued at $274,238.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

First Watch Restaurant Group Trading Up 2.7 %

Shares of FWRG opened at $23.63 on Friday. The company has a market capitalization of $1.43 billion, a P/E ratio of 57.64, a P/E/G ratio of 2.13 and a beta of 1.11. First Watch Restaurant Group, Inc. has a one year low of $14.81 and a one year high of $25.88. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.57 and a current ratio of 0.62. The stock has a 50-day moving average price of $23.91 and a 200 day moving average price of $20.79.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. First Watch Restaurant Group had a return on equity of 4.62% and a net margin of 2.85%. The firm had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $237.20 million. During the same quarter in the prior year, the firm posted ($0.01) earnings per share. First Watch Restaurant Group’s revenue for the quarter was up 31.7% compared to the same quarter last year. Sell-side analysts forecast that First Watch Restaurant Group, Inc. will post 0.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FWRG. Barclays boosted their price target on First Watch Restaurant Group from $23.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. TD Cowen reissued a “hold” rating and set a $26.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, April 10th. Citigroup upped their target price on 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. Raymond James upped their target price on First Watch Restaurant Group from $23.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 25th. Finally, Stifel Nicolaus upped their target price on First Watch Restaurant Group from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $26.00.

Institutional Trading of First Watch Restaurant Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brown Advisory Inc. raised its position in shares of First Watch Restaurant Group by 0.4% during the 4th quarter. Brown Advisory Inc. now owns 1,478,407 shares of the company’s stock worth $29,716,000 after purchasing an additional 6,494 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of First Watch Restaurant Group by 14.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 1,408,454 shares of the company’s stock worth $28,310,000 after acquiring an additional 175,074 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of First Watch Restaurant Group by 25.1% in the third quarter. Vanguard Group Inc. now owns 1,311,905 shares of the company’s stock valued at $22,683,000 after purchasing an additional 263,101 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of First Watch Restaurant Group by 0.5% in the third quarter. The Manufacturers Life Insurance Company now owns 1,233,380 shares of the company’s stock valued at $21,325,000 after purchasing an additional 5,889 shares in the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its holdings in shares of First Watch Restaurant Group by 9.6% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,074,612 shares of the company’s stock valued at $21,600,000 after purchasing an additional 93,931 shares in the last quarter. 96.11% of the stock is currently owned by institutional investors and hedge funds.

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.