Swiss National Bank Acquires 17,700 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Swiss National Bank grew its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 27.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 82,300 shares of the company's stock after purchasing an additional 17,700 shares during the quarter. Swiss National Bank owned about 0.14% of First Watch Restaurant Group worth $1,532,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of FWRG. JPMorgan Chase & Co. lifted its position in shares of First Watch Restaurant Group by 22.6% in the third quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company's stock worth $30,988,000 after buying an additional 366,227 shares during the last quarter. ArrowMark Colorado Holdings LLC bought a new position in shares of First Watch Restaurant Group in the 3rd quarter valued at approximately $5,120,000. Point72 Asset Management L.P. acquired a new stake in First Watch Restaurant Group in the 3rd quarter worth approximately $4,719,000. WCM Investment Management LLC lifted its holdings in First Watch Restaurant Group by 44.2% in the 4th quarter. WCM Investment Management LLC now owns 947,240 shares of the company's stock worth $17,552,000 after purchasing an additional 290,173 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in First Watch Restaurant Group by 14.4% during the third quarter. The Manufacturers Life Insurance Company now owns 1,533,290 shares of the company's stock worth $23,919,000 after purchasing an additional 192,471 shares during the period. Institutional investors and hedge funds own 96.11% of the company's stock.

First Watch Restaurant Group Price Performance

Shares of FWRG traded up $0.51 on Wednesday, hitting $18.42. The company's stock had a trading volume of 591,359 shares, compared to its average volume of 655,623. The company has a market capitalization of $1.12 billion, a PE ratio of 55.82, a PEG ratio of 3.38 and a beta of 0.91. First Watch Restaurant Group, Inc. has a fifty-two week low of $12.90 and a fifty-two week high of $25.98. The company has a 50 day moving average price of $19.31 and a 200 day moving average price of $18.23. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51.

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

Insiders Place Their Bets

In other news, CEO Christopher Anthony Tomasso sold 42,039 shares of the business's 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 completion of the sale, the chief executive officer now owns 389,832 shares in the company, valued at $6,553,075.92. The trade was a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jay Anthony Wolszczak sold 5,743 shares of the company's stock in a transaction 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 trade represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on FWRG shares. Benchmark restated a "buy" rating on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. Stephens reaffirmed an "overweight" rating and issued a $24.00 target price on shares of First Watch Restaurant Group in a report on Thursday, March 20th. Bank of America upped their price target on First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, March 12th. Barclays reaffirmed an "overweight" rating and set a $21.00 target price (down previously from $24.00) on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Finally, Sanford C. Bernstein set a $21.00 target price on shares of First Watch Restaurant Group in a research note on Tuesday, March 11th. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $22.45.

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.