Christopher Anthony Tomasso Sells 42,039 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Get Free Report) CEO Christopher Anthony Tomasso sold 42,039 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $706,675.59. Following the completion of the transaction, the chief executive officer now owns 389,832 shares in the company, valued at $6,553,075.92. This represents a 9.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

First Watch Restaurant Group Stock Up 1.2 %

NASDAQ:FWRG traded up $0.20 during midday trading on Tuesday, reaching $16.43. 374,449 shares of the stock traded hands, compared to its average volume of 639,348. 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, Inc. has a 12-month low of $12.90 and a 12-month high of $25.98. The stock has a market capitalization of $997.30 million, a PE ratio of 49.71, a price-to-earnings-growth ratio of 3.38 and a beta of 0.91. The business has a 50-day moving average of $19.71 and a two-hundred day moving average of $18.13.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $263.30 million for the quarter, compared to analyst estimates of $262.82 million. During the same quarter in the previous year, the company posted $0.04 EPS. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current fiscal year.

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Analysts Set New Price Targets

FWRG has been the subject of several research reports. TD Securities reaffirmed a "hold" rating and issued a $21.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, March 12th. Bank of America upped their price target on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, March 12th. Stephens reaffirmed an "overweight" rating and issued a $25.00 price target on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Sanford C. Bernstein set a $21.00 price target on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Finally, Barclays reaffirmed an "overweight" rating and issued a $21.00 price target (down previously from $24.00) on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, First Watch Restaurant Group currently has an average rating of "Moderate Buy" and an average target price of $22.36.

Institutional Trading of First Watch Restaurant Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Jane Street Group LLC increased its stake in shares of First Watch Restaurant Group by 1.1% in the third quarter. Jane Street Group LLC now owns 49,358 shares of the company's stock worth $770,000 after acquiring an additional 551 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in First Watch Restaurant Group by 3.7% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,269 shares of the company's stock valued at $321,000 after buying an additional 613 shares during the period. Assetmark Inc. grew its position in First Watch Restaurant Group by 68.7% during the fourth quarter. Assetmark Inc. now owns 2,455 shares of the company's stock valued at $46,000 after buying an additional 1,000 shares during the period. Mariner LLC grew its position in First Watch Restaurant Group by 5.1% during the fourth quarter. Mariner LLC now owns 21,446 shares of the company's stock valued at $399,000 after buying an additional 1,033 shares during the period. Finally, Bank of New York Mellon Corp grew its position in First Watch Restaurant Group by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 78,621 shares of the company's stock valued at $1,463,000 after buying an additional 2,033 shares during the period. Institutional investors and hedge funds own 96.11% of the company's stock.

About First Watch Restaurant Group

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.