Stephens Investment Management Group LLC Buys 125,452 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Stephens Investment Management Group LLC boosted its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 33.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 503,678 shares of the company's stock after acquiring an additional 125,452 shares during the period. Stephens Investment Management Group LLC owned 0.83% of First Watch Restaurant Group worth $7,857,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in FWRG. Vanguard Group Inc. boosted its holdings in shares of First Watch Restaurant Group by 18.8% during the 1st quarter. Vanguard Group Inc. now owns 1,611,452 shares of the company's stock valued at $39,674,000 after buying an additional 255,307 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of First Watch Restaurant Group by 15.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,385,972 shares of the company's stock valued at $24,338,000 after buying an additional 189,740 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of First Watch Restaurant Group by 26.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,340,819 shares of the company's stock valued at $23,545,000 after buying an additional 281,056 shares in the last quarter. Deepwater Asset Management LLC boosted its holdings in shares of First Watch Restaurant Group by 15.4% during the 3rd quarter. Deepwater Asset Management LLC now owns 802,625 shares of the company's stock valued at $12,521,000 after buying an additional 106,976 shares in the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of First Watch Restaurant Group by 17.1% during the 1st quarter. Capital Research Global Investors now owns 776,545 shares of the company's stock valued at $19,119,000 after buying an additional 113,555 shares in the last quarter. Institutional investors own 96.11% of the company's stock.

First Watch Restaurant Group Stock Performance

First Watch Restaurant Group stock traded up $0.18 during midday trading on Friday, hitting $17.17. The stock had a trading volume of 316,816 shares, compared to its average volume of 574,432. The firm's fifty day moving average is $15.71 and its two-hundred day moving average is $17.52. The company has a market capitalization of $1.04 billion, a PE ratio of 44.03, a P/E/G ratio of 4.61 and a beta of 0.87. 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 current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. First Watch Restaurant Group had a return on equity of 4.24% and a net margin of 2.51%. The business had revenue of $258.60 million during the quarter, compared to the consensus estimate of $257.65 million. During the same period in the prior year, the company posted $0.13 EPS. The firm's revenue for the quarter was up 19.6% compared to the same quarter last year. On average, research analysts forecast that First Watch Restaurant Group, Inc. will post 0.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Stephens began coverage on shares of First Watch Restaurant Group in a research note on Thursday, October 17th. They issued an "overweight" rating and a $20.00 price target on the stock. TD Cowen restated a "hold" rating and set a $18.00 target price on shares of First Watch Restaurant Group in a research note on Thursday, September 12th. Benchmark restated a "buy" rating and set a $23.00 target price on shares of First Watch Restaurant Group in a research note on Wednesday, October 16th. Barclays lowered their target price on shares of First Watch Restaurant Group from $21.00 to $18.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 22nd. Finally, Bank of America lowered their target price on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a "buy" rating on the stock in a research note on Wednesday, July 17th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, First Watch Restaurant Group currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

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.