JPMorgan Chase & Co. Purchases 154,784 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

JPMorgan Chase & Co. increased its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,141,209 shares of the company's stock after buying an additional 154,784 shares during the quarter. JPMorgan Chase & Co. owned 3.54% of First Watch Restaurant Group worth $39,848,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Assetmark Inc. lifted its position in shares of 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 in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in First Watch Restaurant Group in the 4th quarter worth approximately $51,000. Venturi Wealth Management LLC purchased a new stake in First Watch Restaurant Group in the 4th quarter worth approximately $81,000. XTX Topco Ltd acquired a new stake in shares of First Watch Restaurant Group during the 3rd quarter valued at $157,000. Finally, American Century Companies Inc. purchased a new position in shares of First Watch Restaurant Group during the 4th quarter valued at $200,000. 96.11% of the stock is owned by institutional investors and hedge funds.

First Watch Restaurant Group Stock Performance

Shares of NASDAQ FWRG traded up $0.09 during trading hours on Friday, hitting $17.54. 558,258 shares of the stock were exchanged, compared to its average volume of 663,325. First Watch Restaurant Group, Inc. has a one year low of $12.90 and a one year high of $25.98. The company's 50 day moving average is $18.59 and its 200 day moving average is $18.29. 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 firm has a market capitalization of $1.06 billion, a P/E ratio of 53.15, a P/E/G ratio of 3.38 and a beta of 1.02.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last released 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). The firm had revenue of $263.30 million for the quarter, compared to the consensus estimate of $262.82 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The firm's revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $0.04 earnings per share. On average, research analysts expect that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on FWRG. Benchmark reiterated a "buy" rating on shares of First Watch Restaurant Group in a report on Wednesday, March 12th. TD Securities raised First Watch Restaurant Group from a "hold" rating to a "buy" rating and raised their price target for the stock from $21.00 to $22.00 in a research note on Tuesday, April 1st. Sanford C. Bernstein set a $21.00 price target on First Watch Restaurant Group in a research note on Tuesday, March 11th. TD Cowen raised shares of First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 price objective on the stock in a research report on Tuesday, April 1st. Finally, Stephens reissued an "overweight" rating and issued a $24.00 target price on shares of First Watch Restaurant Group in a research report on Thursday, March 20th. 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 MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $22.45.

Insider Buying and Selling at First Watch Restaurant Group

In other news, insider Jay Anthony Wolszczak sold 5,743 shares of the business's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $96,539.83. Following the transaction, the insider now owns 37,768 shares in the company, valued at approximately $634,880.08. The trade was a 13.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the stock in a transaction dated Wednesday, March 12th. The shares were 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 of the company's stock, valued at approximately $6,553,075.92. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.00% of the company's stock.

First Watch Restaurant Group Company 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.