Federated Hermes Inc. Has $21.49 Million Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Federated Hermes Inc. decreased its position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 14.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,154,465 shares of the company's stock after selling 200,200 shares during the period. Federated Hermes Inc. owned 1.91% of First Watch Restaurant Group worth $21,485,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Assetmark Inc. increased its holdings in shares of First Watch Restaurant Group by 68.7% during the 4th quarter. Assetmark Inc. now owns 2,455 shares of the company's stock worth $46,000 after purchasing an additional 1,000 shares during the period. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of First Watch Restaurant Group in the 4th quarter worth approximately $51,000. Venturi Wealth Management LLC acquired a new stake in shares of First Watch Restaurant Group during the 4th quarter worth approximately $81,000. XTX Topco Ltd bought a new stake in shares of First Watch Restaurant Group during the third quarter valued at approximately $157,000. Finally, American Century Companies Inc. acquired a new position in shares of First Watch Restaurant Group in the fourth quarter valued at $200,000. Institutional investors own 96.11% of the company's stock.

Insider Buying and Selling at First Watch Restaurant Group

In related news, insider Jay Anthony Wolszczak sold 5,743 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $96,539.83. Following the transaction, the insider now directly owns 37,768 shares in the company, valued at $634,880.08. This represents a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of First Watch Restaurant Group stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $706,675.59. Following the sale, the chief executive officer now directly owns 389,832 shares of the company's stock, valued at $6,553,075.92. This represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company's stock.

First Watch Restaurant Group Price Performance

Shares of First Watch Restaurant Group stock traded up $0.43 during trading on Monday, reaching $17.97. The company's stock had a trading volume of 82,649 shares, compared to its average volume of 662,810. The stock has a 50-day moving average price of $18.59 and a two-hundred day moving average price of $18.31. The stock has a market capitalization of $1.09 billion, a P/E ratio of 54.46, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. First Watch Restaurant Group, Inc. has a one year low of $12.90 and a one year high of $25.98.

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. TD Cowen upgraded shares of First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 price target on the stock in a research note on Tuesday, April 1st. Bank of America upped their target price on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the company a "buy" rating in a research note on Wednesday, March 12th. Barclays reissued 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. Benchmark reaffirmed a "buy" rating on shares of First Watch Restaurant Group in a report on Wednesday, March 12th. Finally, Stephens reissued an "overweight" rating and issued a $24.00 target price on shares of First Watch Restaurant Group in a report on Thursday, March 20th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $22.45.

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.