16,672 Shares in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Bought by Cerity Partners LLC

Cerity Partners LLC purchased a new position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 16,672 shares of the company's stock, valued at approximately $308,000.

A number of other institutional investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its holdings in shares of First Watch Restaurant Group by 85.9% in the 4th quarter. Russell Investments Group Ltd. now owns 107,372 shares of the company's stock worth $1,998,000 after acquiring an additional 49,615 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of First Watch Restaurant Group by 398.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 66,286 shares of the company's stock worth $1,234,000 after acquiring an additional 52,977 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in First Watch Restaurant Group by 3.6% during the 4th quarter. Wells Fargo & Company MN now owns 98,866 shares of the company's stock valued at $1,840,000 after acquiring an additional 3,405 shares during the period. Pamalican Asset Management Ltd bought a new position in First Watch Restaurant Group in the 4th quarter valued at $910,000. Finally, Landscape Capital Management L.L.C. purchased a new stake in First Watch Restaurant Group in the fourth quarter worth $2,771,000. 96.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at First Watch Restaurant Group

In other First Watch Restaurant Group news, insider Jay Anthony Wolszczak sold 5,743 shares of First Watch Restaurant Group stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $96,539.83. Following the sale, the insider now owns 37,768 shares of the company's stock, valued at $634,880.08. The trade was a 13.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $706,675.59. Following the completion of the sale, the chief executive officer now owns 389,832 shares of the company's stock, valued at $6,553,075.92. This trade represents a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is owned by corporate insiders.

First Watch Restaurant Group Stock Performance

NASDAQ FWRG traded up $0.03 during trading hours on Friday, reaching $19.40. The stock had a trading volume of 927,345 shares, compared to its average volume of 683,912. First Watch Restaurant Group, Inc. has a 52-week low of $12.90 and a 52-week high of $25.98. The stock has a fifty day moving average of $18.27 and a 200 day moving average of $18.62. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.54. The stock has a market cap of $1.18 billion, a P/E ratio of 58.79, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last released its quarterly earnings data on Tuesday, March 11th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The business had revenue of $263.30 million during the quarter, compared to analysts' expectations of $262.82 million. During the same period last year, the company earned $0.04 earnings per share. The firm's revenue was up 7.6% on a year-over-year basis. Sell-side analysts predict that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on FWRG. Barclays raised their price target on shares of First Watch Restaurant Group from $21.00 to $24.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 22nd. Benchmark reissued a "buy" rating on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. Bank of America lifted their target price on First Watch Restaurant Group from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, March 12th. Sanford C. Bernstein set a $21.00 price target on First Watch Restaurant Group in a research report on Tuesday, March 11th. Finally, TD Cowen upgraded First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 price objective for the company in a report on Tuesday, April 1st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $22.73.

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.