GW&K Investment Management LLC Has $13.71 Million Stock Holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

GW&K Investment Management LLC decreased its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 4.2% during the 4th quarter, Holdings Channel reports. The firm owned 681,888 shares of the company’s stock after selling 29,933 shares during the period. GW&K Investment Management LLC’s holdings in First Watch Restaurant Group were worth $13,706,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Invesco Ltd. bought a new stake in First Watch Restaurant Group in the third quarter valued at approximately $8,940,000. Vanguard Group Inc. increased its holdings in shares of First Watch Restaurant Group by 25.1% in the third quarter. Vanguard Group Inc. now owns 1,311,905 shares of the company’s stock valued at $22,683,000 after purchasing an additional 263,101 shares during the last quarter. 12 West Capital Management LP bought a new stake in shares of First Watch Restaurant Group during the 3rd quarter worth about $3,717,000. Deepwater Asset Management LLC acquired a new position in First Watch Restaurant Group in the 4th quarter valued at about $2,211,000. Finally, Qube Research & Technologies Ltd lifted its position in First Watch Restaurant Group by 452.8% during the third quarter. Qube Research & Technologies Ltd now owns 116,691 shares of the company’s stock worth $2,018,000 after acquiring an additional 95,581 shares during the last quarter. Institutional investors own 96.11% of the company’s stock.

Insider Transactions at First Watch Restaurant Group

In related news, insider Matthew Eisenacher sold 45,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $24.46, for a total transaction of $1,100,700.00. Following the completion of the sale, the insider now owns 36,276 shares of the company’s stock, valued at $887,310.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Matthew Eisenacher sold 45,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $24.46, for a total value of $1,100,700.00. Following the transaction, the insider now directly owns 36,276 shares in the company, valued at approximately $887,310.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric Richard Hartman sold 1,474 shares of First Watch Restaurant Group stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $25.03, for a total transaction of $36,894.22. Following the transaction, the insider now owns 51,417 shares of the company’s stock, valued at $1,286,967.51. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,085,127 shares of company stock valued at $170,038,222. Corporate insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

FWRG has been the topic of a number of recent research reports. TD Cowen lowered their target price on First Watch Restaurant Group from $26.00 to $25.00 and set a “hold” rating on the stock in a research note on Wednesday, May 8th. Raymond James boosted their target price on shares of First Watch Restaurant Group from $23.00 to $25.00 and gave the company a “strong-buy” rating in a research report on Thursday, January 25th. Barclays cut their price objective on shares of First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, May 8th. Stifel Nicolaus boosted their price target on First Watch Restaurant Group from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Finally, Citigroup raised their price objective on First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $25.50.

First Watch Restaurant Group Trading Up 0.2 %

FWRG stock traded up $0.03 during trading on Wednesday, hitting $19.20. The company had a trading volume of 105,977 shares, compared to its average volume of 533,002. The company has a current ratio of 0.60, a quick ratio of 0.55 and a debt-to-equity ratio of 0.21. First Watch Restaurant Group, Inc. has a one year low of $15.77 and a one year high of $25.98. The business has a 50-day moving average of $22.93 and a 200-day moving average of $21.46. The stock has a market cap of $1.16 billion, a PE ratio of 50.45, a PEG ratio of 2.47 and a beta of 1.07.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $245.03 million. First Watch Restaurant Group had a net margin of 2.52% and a return on equity of 4.15%. First Watch Restaurant Group’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.15 earnings per share. Research analysts predict that First Watch Restaurant Group, Inc. will post 0.39 earnings per share for the current fiscal year.

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.