Sei Investments Co. Buys 72,328 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Sei Investments Co. boosted its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 107.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 139,350 shares of the company's stock after purchasing an additional 72,328 shares during the period. Sei Investments Co. owned about 0.23% of First Watch Restaurant Group worth $2,593,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in First Watch Restaurant Group by 21.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 251,403 shares of the company's stock worth $3,922,000 after purchasing an additional 45,119 shares during the last quarter. FMR LLC increased its stake in shares of First Watch Restaurant Group by 9.5% in the 3rd quarter. FMR LLC now owns 625,523 shares of the company's stock valued at $9,758,000 after acquiring an additional 54,282 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of First Watch Restaurant Group during the 3rd quarter valued at $215,000. Point72 Asset Management L.P. bought a new position in First Watch Restaurant Group during the third quarter worth $4,719,000. Finally, State Street Corp grew its holdings in First Watch Restaurant Group by 13.6% in the third quarter. State Street Corp now owns 664,310 shares of the company's stock worth $10,363,000 after purchasing an additional 79,744 shares during the period. 96.11% of the stock is owned by institutional investors.

First Watch Restaurant Group Stock Up 15.1 %

NASDAQ:FWRG traded up $2.30 on Wednesday, hitting $17.56. The stock had a trading volume of 875,224 shares, compared to its average volume of 661,464. First Watch Restaurant Group, Inc. has a 1 year low of $12.90 and a 1 year high of $25.98. The firm's fifty day simple moving average is $18.73 and its two-hundred day simple moving average is $18.27. The stock has a market cap of $1.07 billion, a P/E ratio of 53.21, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02. 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 issued its quarterly earnings results on Tuesday, March 11th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). The business had revenue of $263.30 million for the quarter, compared to the consensus estimate of $262.82 million. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The business's revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.04 earnings per share. Analysts predict that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on FWRG shares. Stephens reiterated an "overweight" rating and issued a $24.00 price target on shares of First Watch Restaurant Group in a report on Thursday, March 20th. Sanford C. Bernstein set a $21.00 price target on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Bank of America boosted 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 note on Wednesday, March 12th. 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 note on Tuesday, April 1st. Finally, TD Securities raised shares of First Watch Restaurant Group from a "hold" rating to a "buy" rating and boosted their target price for the stock from $21.00 to $22.00 in a research report on Tuesday, April 1st. One equities research 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's stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $22.45.

Insider Buying and Selling

In other First Watch Restaurant Group 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 value of $706,675.59. Following the completion of the sale, the chief executive officer now directly owns 389,832 shares of the company's stock, 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 through this link. 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 approximately $634,880.08. The trade was a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is owned by insiders.

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.