First Watch Restaurant Group, Inc. $FWRG Stake Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund boosted its holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 8.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 663,160 shares of the company’s stock after purchasing an additional 50,873 shares during the quarter. New York State Common Retirement Fund’s holdings in First Watch Restaurant Group were worth $10,372,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in shares of First Watch Restaurant Group by 51.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,335,883 shares of the company’s stock worth $37,468,000 after buying an additional 796,191 shares during the last quarter. Lazard Asset Management LLC raised its stake in First Watch Restaurant Group by 13.4% during the second quarter. Lazard Asset Management LLC now owns 2,281,137 shares of the company’s stock worth $36,589,000 after acquiring an additional 269,726 shares during the period. JPMorgan Chase & Co. lifted its holdings in First Watch Restaurant Group by 1.8% in the second quarter. JPMorgan Chase & Co. now owns 2,213,754 shares of the company’s stock worth $35,509,000 after acquiring an additional 39,648 shares during the last quarter. Marshall Wace LLP lifted its holdings in First Watch Restaurant Group by 33.5% in the second quarter. Marshall Wace LLP now owns 1,203,109 shares of the company’s stock worth $19,298,000 after acquiring an additional 301,572 shares during the last quarter. Finally, Loomis Sayles & Co. L P acquired a new position in First Watch Restaurant Group in the second quarter valued at approximately $18,350,000. 96.11% of the stock is owned by institutional investors and hedge funds.

First Watch Restaurant Group Stock Up 4.5%

First Watch Restaurant Group stock opened at $16.85 on Wednesday. The company’s 50-day moving average price is $16.48 and its two-hundred day moving average price is $16.97. The company has a current ratio of 0.25, a quick ratio of 0.21 and a debt-to-equity ratio of 0.41. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 210.65, a PEG ratio of 2.94 and a beta of 0.88. First Watch Restaurant Group, Inc. has a 52 week low of $12.90 and a 52 week high of $22.71.

First Watch Restaurant Group (NASDAQ:FWRG) last released its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). First Watch Restaurant Group had a return on equity of 0.83% and a net margin of 0.42%.The firm had revenue of $316.02 million during the quarter, compared to analyst estimates of $308.31 million. On average, analysts expect that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other First Watch Restaurant Group news, Director William A. Kussell sold 6,165 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $17.00, for a total value of $104,805.00. Following the sale, the director directly owned 26,402 shares in the company, valued at approximately $448,834. The trade was a 18.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FWRG shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research report on Monday, December 29th. Barclays lowered their price objective on First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. Wall Street Zen upgraded First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Finally, Zacks Research lowered shares of First Watch Restaurant Group from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.91.

First Watch Restaurant Group Profile

First Watch Restaurant Group, Inc (NASDAQ: FWRG) operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company’s casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.