Charles Schwab Investment Management Inc. Acquires 58,448 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Charles Schwab Investment Management Inc. raised its position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 23.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 309,851 shares of the company's stock after buying an additional 58,448 shares during the period. Charles Schwab Investment Management Inc. owned 0.51% of First Watch Restaurant Group worth $5,766,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC boosted its holdings in shares of First Watch Restaurant Group by 1.1% in the 3rd quarter. Jane Street Group LLC now owns 49,358 shares of the company's stock worth $770,000 after acquiring an additional 551 shares in the last quarter. Bank of New York Mellon Corp raised its position in First Watch Restaurant Group by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 78,621 shares of the company's stock valued at $1,463,000 after purchasing an additional 2,033 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in First Watch Restaurant Group in the fourth quarter worth $81,000. SRH Advisors LLC grew its holdings in shares of First Watch Restaurant Group by 84.3% during the fourth quarter. SRH Advisors LLC now owns 12,185 shares of the company's stock worth $227,000 after purchasing an additional 5,575 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of First Watch Restaurant Group by 98.9% in the fourth quarter. SG Americas Securities LLC now owns 15,177 shares of the company's stock valued at $282,000 after buying an additional 7,547 shares in the last quarter. 96.11% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

FWRG has been the topic of a number of research analyst reports. Benchmark reissued a "buy" rating on shares of First Watch Restaurant Group in a report on Wednesday, March 12th. TD Securities reissued a "hold" rating and set a $21.00 price target on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. Sanford C. Bernstein set a $21.00 price objective on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Barclays reiterated an "overweight" rating and issued a $21.00 price objective (down from $24.00) on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Finally, Stephens restated an "overweight" rating and set a $24.00 target price on shares of First Watch Restaurant Group in a research report on Thursday, March 20th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, First Watch Restaurant Group presently has an average rating of "Moderate Buy" and an average target price of $22.27.

Insider Activity at First Watch Restaurant Group

In related news, CEO Christopher Anthony Tomasso sold 42,039 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total value of $706,675.59. Following the completion of the transaction, the chief executive officer now directly owns 389,832 shares in the company, valued at approximately $6,553,075.92. The trade was a 9.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jay Anthony Wolszczak sold 5,743 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 in the company, valued at $634,880.08. This trade represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is owned by corporate insiders.

First Watch Restaurant Group Trading Down 1.1 %

FWRG traded down $0.20 during midday trading on Thursday, reaching $17.37. 454,064 shares of the company were exchanged, compared to its average volume of 649,383. The stock has a market capitalization of $1.05 billion, a P/E ratio of 52.64, a PEG ratio of 3.38 and a beta of 0.91. First Watch Restaurant Group, Inc. has a one year low of $12.90 and a one year high of $25.98. The stock's 50-day simple moving average is $19.38 and its 200 day simple moving average is $18.15. 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 released its quarterly earnings data on Tuesday, March 11th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The firm had revenue of $263.30 million for the quarter, compared to the consensus estimate of $262.82 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 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 EPS. As a group, analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current fiscal year.

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.