148,904 Shares in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Bought by Landscape Capital Management L.L.C.

Landscape Capital Management L.L.C. acquired a new position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 148,904 shares of the company's stock, valued at approximately $2,771,000. Landscape Capital Management L.L.C. owned about 0.25% of First Watch Restaurant Group at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Arizona State Retirement System purchased a new position in First Watch Restaurant Group during the 4th quarter valued at about $228,000. Barclays PLC lifted its stake in First Watch Restaurant Group by 505.3% in the third quarter. Barclays PLC now owns 172,515 shares of the company's stock worth $2,690,000 after purchasing an additional 144,014 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in First Watch Restaurant Group by 9.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 576,890 shares of the company's stock valued at $10,736,000 after acquiring an additional 49,826 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of First Watch Restaurant Group by 22.6% during the third quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company's stock valued at $30,988,000 after purchasing an additional 366,227 shares during the period. Finally, Geode Capital Management LLC grew its holdings in First Watch Restaurant Group by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 769,608 shares of the company's stock worth $12,008,000 after acquiring an additional 91,416 shares during the last quarter. 96.11% of the stock is owned by institutional investors.

First Watch Restaurant Group Price Performance

Shares of FWRG remained flat at $15.26 during trading hours on Wednesday. 196,352 shares of the stock were exchanged, compared to its average volume of 657,765. The stock has a 50-day simple moving average of $18.88 and a two-hundred day simple moving average of $18.26. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $926.28 million, a PE ratio of 46.40, a P/E/G ratio of 3.38 and a beta of 1.02. First Watch Restaurant Group, Inc. has a 12-month low of $12.90 and a 12-month high of $25.98.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on FWRG shares. TD Securities raised shares of First Watch Restaurant Group from a "hold" rating to a "buy" rating and increased their price target for the stock from $21.00 to $22.00 in a research note on Tuesday, April 1st. Benchmark reiterated a "buy" rating on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. Barclays reaffirmed an "overweight" rating and set a $21.00 price objective (down from $24.00) on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. TD Cowen upgraded shares of First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 target price on the stock in a report on Tuesday, April 1st. Finally, Bank of America upped their price target on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, March 12th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, First Watch Restaurant Group has a consensus rating of "Buy" and an average price target of $22.45.

Insider Buying and Selling

In other news, CEO Christopher Anthony Tomasso sold 42,039 shares of the firm'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 transaction, the chief executive officer now directly owns 389,832 shares in the company, valued at $6,553,075.92. This trade represents a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jay Anthony Wolszczak sold 5,743 shares of the business'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 completion of the sale, the insider now owns 37,768 shares in the company, valued at $634,880.08. This represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company's stock.

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.