Wellington Management Group LLP Raises Stock Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Wellington Management Group LLP boosted its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 4.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 847,870 shares of the company's stock after purchasing an additional 34,200 shares during the quarter. Wellington Management Group LLP owned approximately 1.40% of First Watch Restaurant Group worth $15,779,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Jane Street Group LLC boosted its stake in First Watch Restaurant Group by 1.1% during the 3rd quarter. Jane Street Group LLC now owns 49,358 shares of the company's stock valued at $770,000 after purchasing an additional 551 shares during the period. Assetmark Inc. raised its position in 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 acquiring an additional 1,000 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in First Watch Restaurant Group by 2.7% during the fourth quarter. Bank of New York Mellon Corp now owns 78,621 shares of the company's stock valued at $1,463,000 after purchasing an additional 2,033 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in First Watch Restaurant Group during the fourth quarter worth approximately $51,000. Finally, Venturi Wealth Management LLC acquired a new position in First Watch Restaurant Group in the fourth quarter worth approximately $81,000. Institutional investors own 96.11% of the company's stock.

Insiders Place Their Bets

In related 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 transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jay Anthony Wolszczak sold 5,743 shares of the firm'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 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 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 Stock Up 2.0 %

NASDAQ FWRG traded up $0.35 during trading hours on Monday, hitting $17.89. The company's stock had a trading volume of 25,197 shares, compared to its average volume of 662,463. First Watch Restaurant Group, Inc. has a 52 week low of $12.90 and a 52 week high of $25.98. The company's 50-day simple moving average is $18.59 and its two-hundred day simple moving average is $18.31. The company has a market capitalization of $1.09 billion, a PE ratio of 54.26, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last released its 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 firm had revenue of $263.30 million during 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% compared to the same quarter last year. During the same period in the prior year, the company earned $0.04 EPS. Research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FWRG has been the topic of several recent analyst reports. Barclays restated an "overweight" rating and set a $21.00 price objective (down previously from $24.00) on shares of First Watch Restaurant Group in a report on Tuesday, March 11th. Benchmark reissued a "buy" rating on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. Stephens restated an "overweight" rating and issued a $24.00 target price on shares of First Watch Restaurant Group in a research note on Thursday, March 20th. TD Securities raised shares of First Watch Restaurant Group from a "hold" rating to a "buy" rating and increased their target price for the stock from $21.00 to $22.00 in a research report on Tuesday, April 1st. Finally, TD Cowen upgraded First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 price target on the stock in a report on Tuesday, April 1st. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus price target 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.