Stephens Investment Management Group LLC Raises Stock Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Stephens Investment Management Group LLC lifted its position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 37.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 693,359 shares of the company's stock after acquiring an additional 189,681 shares during the quarter. Stephens Investment Management Group LLC owned 1.14% of First Watch Restaurant Group worth $12,903,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Rocky Mountain Advisers LLC lifted its holdings in shares of First Watch Restaurant Group by 180.1% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company's stock worth $103,000 after acquiring an additional 4,250 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth about $119,000. XTX Topco Ltd bought a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth about $157,000. Versor Investments LP bought a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth about $201,000. Finally, Commerce Bank bought a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth about $208,000. Institutional investors own 96.11% of the company's stock.

First Watch Restaurant Group Stock Up 5.1 %

Shares of NASDAQ:FWRG traded up $1.00 during trading hours on Thursday, hitting $20.50. The company's stock had a trading volume of 447,204 shares, compared to its average volume of 463,693. 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 current ratio of 0.54 and a quick ratio of 0.51. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of 62.12, a P/E/G ratio of 3.50 and a beta of 0.91. The firm's fifty day moving average price is $19.55 and its 200 day moving average price is $17.62.

Analyst Upgrades and Downgrades

FWRG has been the subject of several analyst reports. Raymond James raised 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. Barclays lifted their price objective on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the company an "overweight" rating in a report on Friday, November 8th. Stephens reiterated an "overweight" rating and set a $25.00 price objective on shares of First Watch Restaurant Group in a report on Tuesday, January 28th. TD Cowen lifted their price objective on shares of First Watch Restaurant Group from $18.00 to $21.00 and gave the company a "hold" rating in a report on Friday, November 8th. Finally, Piper Sandler lifted 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 report on Monday, November 11th. Two research analysts have rated the stock with a hold rating, seven 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 currently has a consensus rating of "Moderate Buy" and an average price target of $23.30.

First Watch Restaurant Group 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.