B. Metzler seel. Sohn & Co. Holding AG Buys New Shares 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 - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 100,367 shares of the company's stock, valued at approximately $1,566,000. B. Metzler seel. Sohn & Co. Holding AG owned about 0.17% of First Watch Restaurant Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Mutual of America Capital Management LLC purchased a new position in First Watch Restaurant Group during the third quarter valued at approximately $5,757,000. Versor Investments LP bought a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth approximately $201,000. Rocky Mountain Advisers LLC raised its holdings in First Watch Restaurant Group by 180.1% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company's stock valued at $103,000 after buying an additional 4,250 shares during the last quarter. Stephens Investment Management Group LLC raised its holdings in First Watch Restaurant Group by 33.2% during the 3rd quarter. Stephens Investment Management Group LLC now owns 503,678 shares of the company's stock valued at $7,857,000 after buying an additional 125,452 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its holdings in First Watch Restaurant Group by 164.0% during the 3rd quarter. Rice Hall James & Associates LLC now owns 87,799 shares of the company's stock valued at $1,370,000 after buying an additional 54,546 shares during the last quarter. Hedge funds and other institutional investors own 96.11% of the company's stock.

First Watch Restaurant Group Stock Performance

NASDAQ FWRG traded up $0.49 during trading hours on Friday, reaching $18.24. The stock had a trading volume of 938,429 shares, compared to its average volume of 1,040,416. The stock has a fifty day moving average of $16.51 and a 200 day moving average of $17.01. The stock has a market cap of $1.10 billion, a P/E ratio of 55.27, a price-to-earnings-growth ratio of 5.21 and a beta of 0.85. First Watch Restaurant Group, Inc. has a 52-week low of $12.90 and a 52-week high of $25.98. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.54.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $256.17 million. During the same quarter last year, the business earned $0.09 EPS. The company's quarterly revenue was up 14.8% on a year-over-year basis. Sell-side analysts predict that First Watch Restaurant Group, Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

FWRG has been the topic of a number of research analyst reports. Piper Sandler boosted their price objective on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Monday, November 11th. Stephens upped their target price on shares of First Watch Restaurant Group from $20.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Barclays upped their target price on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Guggenheim lowered their price objective on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a "buy" rating on the stock in a research note on Friday, October 4th. Finally, Raymond James increased their target price on shares of 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. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $23.30.

Insiders Place Their Bets

In related news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the firm's 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 directly owns 19,189,784 shares in the company, valued at $379,190,131.84. This trade represents a 29.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.00% of the company's stock.

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.