First Watch Restaurant Group (NASDAQ:FWRG) Insider Sells $57,914.00 in Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) insider John Daniel Jones sold 4,600 shares of First Watch Restaurant Group stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $12.59, for a total transaction of $57,914.00. Following the sale, the insider directly owned 86,422 shares of the company’s stock, valued at $1,088,052.98. This represents a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

First Watch Restaurant Group Price Performance

FWRG traded down $0.76 during trading on Thursday, reaching $11.69. The stock had a trading volume of 1,754,873 shares, compared to its average volume of 1,801,113. The business has a 50-day moving average of $15.34 and a 200-day moving average of $16.43. First Watch Restaurant Group, Inc. has a one year low of $11.56 and a one year high of $20.55. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.25 and a current ratio of 0.29. The stock has a market cap of $714.42 million, a PE ratio of 37.69, a PEG ratio of 2.52 and a beta of 0.92.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.16. First Watch Restaurant Group had a return on equity of 3.20% and a net margin of 1.59%.The firm had revenue of $316.35 million during the quarter, compared to analyst estimates of $317.49 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The company’s revenue was up 20.2% compared to the same quarter last year. As a group, equities research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

Institutional Trading of First Watch Restaurant Group

A number of institutional investors have recently made changes to their positions in FWRG. Jones Financial Companies Lllp bought a new position in shares of First Watch Restaurant Group in the third quarter worth approximately $30,000. First Horizon Advisors Inc. raised its holdings in First Watch Restaurant Group by 207.6% during the 2nd quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock valued at $31,000 after buying an additional 1,316 shares during the last quarter. State of Wyoming purchased a new stake in First Watch Restaurant Group during the 4th quarter valued at $64,000. Kemnay Advisory Services Inc. bought a new stake in First Watch Restaurant Group in the 4th quarter worth $66,000. Finally, BNP Paribas Financial Markets increased its position in shares of First Watch Restaurant Group by 61.9% in the second quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock valued at $70,000 after acquiring an additional 1,673 shares during the period. Hedge funds and other institutional investors own 96.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Citigroup cut their target price on First Watch Restaurant Group from $26.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Guggenheim decreased their price target on shares of First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Stephens cut their price objective on shares of First Watch Restaurant Group from $24.00 to $21.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. TD Cowen reduced their target price on shares of First Watch Restaurant Group from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, First Watch Restaurant Group has an average rating of “Moderate Buy” and a consensus target price of $19.75.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc (NASDAQ: FWRG) operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company’s casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.