White Pine Capital LLC Takes $331,000 Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

White Pine Capital LLC acquired a new stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 17,783 shares of the company's stock, valued at approximately $331,000.

A number of other institutional investors have also modified their holdings of the business. Barclays PLC grew its position in First Watch Restaurant Group by 505.3% in the 3rd 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. Mutual of America Capital Management LLC bought a new position in First Watch Restaurant Group in the 3rd quarter worth about $5,757,000. Geode Capital Management LLC grew its position 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 purchasing an additional 91,416 shares during the last quarter. JPMorgan Chase & Co. grew its position in First Watch Restaurant Group by 22.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company's stock worth $30,988,000 after purchasing an additional 366,227 shares during the last quarter. Finally, FMR LLC grew its position in First Watch Restaurant Group by 9.5% in the 3rd quarter. FMR LLC now owns 625,523 shares of the company's stock worth $9,758,000 after purchasing an additional 54,282 shares during the last quarter. Institutional investors own 96.11% of the company's stock.

First Watch Restaurant Group Price Performance

Shares of NASDAQ FWRG traded up $1.62 during midday trading on Tuesday, reaching $22.23. The company's stock had a trading volume of 836,585 shares, compared to its average volume of 473,374. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average price of $19.66 and a 200 day moving average price of $17.77. First Watch Restaurant Group, Inc. has a one year low of $12.90 and a one year high of $25.98. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 67.37, a price-to-earnings-growth ratio of 3.50 and a beta of 0.91.

Analyst Ratings Changes

A number of brokerages have recently commented on FWRG. TD Cowen raised their price target on First Watch Restaurant Group from $18.00 to $21.00 and gave the company a "hold" rating in a report on Friday, November 8th. Piper Sandler raised their target price on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Monday, November 11th. Stephens restated an "overweight" rating and set a $25.00 price target on shares of First Watch Restaurant Group in a research report on Tuesday, January 28th. Raymond James increased their price objective on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the company a "strong-buy" rating in a report on Friday, November 8th. Finally, Barclays boosted their target price on First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, First Watch Restaurant Group has a consensus rating of "Moderate Buy" and an average price target of $23.30.

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.