Jay Anthony Wolszczak Sells 5,743 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Get Free Report) insider Jay Anthony Wolszczak sold 5,743 shares of First Watch Restaurant Group stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $96,539.83. Following the completion of the transaction, the insider now owns 37,768 shares in the company, valued at approximately $634,880.08. This represents a 13.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

First Watch Restaurant Group Stock Up 1.2 %

Shares of NASDAQ FWRG traded up $0.20 during midday trading on Tuesday, hitting $16.43. 374,449 shares of the stock traded hands, compared to its average volume of 639,348. The company has a market cap of $997.30 million, a PE ratio of 49.71, a P/E/G 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 business has a 50 day moving average price of $19.71 and a two-hundred day moving average price of $18.13. 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 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 firm had revenue of $263.30 million for the quarter, compared to the consensus estimate of $262.82 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The company's revenue was up 7.6% compared to the same quarter last year. On average, equities analysts predict that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

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Institutional Investors Weigh In On First Watch Restaurant Group

Several institutional investors have recently bought and sold shares of FWRG. Assetmark Inc. boosted its position in First Watch Restaurant Group by 68.7% in the fourth 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 last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in First Watch Restaurant Group in the fourth quarter worth $51,000. State of Wyoming boosted its position in First Watch Restaurant Group by 212.6% in the fourth quarter. State of Wyoming now owns 3,214 shares of the company's stock worth $60,000 after purchasing an additional 2,186 shares during the last quarter. Venturi Wealth Management LLC purchased a new position in First Watch Restaurant Group in the fourth quarter worth $81,000. Finally, BNP Paribas Financial Markets purchased a new position in First Watch Restaurant Group in the fourth quarter worth $86,000. Institutional investors own 96.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FWRG. Bank of America lifted their price target on 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 from $24.00) on shares of First Watch Restaurant Group in a research note on Tuesday, March 11th. Stephens reissued an "overweight" rating and issued a $25.00 price target on shares of First Watch Restaurant Group in a research note on Tuesday, March 11th. Sanford C. Bernstein set a $21.00 price target on First Watch Restaurant Group in a research note on Tuesday, March 11th. Finally, Benchmark reissued a "buy" rating on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.36.

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.