First Watch Restaurant Group (NASDAQ:FWRG) CEO Sells $313,776.24 in Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) CEO Christopher Anthony Tomasso sold 25,062 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $12.52, for a total transaction of $313,776.24. Following the completion of the sale, the chief executive officer owned 957,315 shares in the company, valued at approximately $11,985,583.80. This trade represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

First Watch Restaurant Group Price Performance

NASDAQ FWRG traded up $0.07 on Thursday, reaching $12.39. The company’s stock had a trading volume of 1,222,836 shares, compared to its average volume of 1,752,333. First Watch Restaurant Group, Inc. has a twelve month low of $11.44 and a twelve month 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 firm’s 50 day moving average is $14.99 and its two-hundred day moving average is $16.18. The stock has a market cap of $757.50 million, a PE ratio of 39.97, a PEG ratio of 2.54 and a beta of 0.92.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings data 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 net margin of 1.59% and a return on equity of 3.20%. The company had revenue of $316.35 million for the quarter, compared to analysts’ expectations of $317.49 million. During the same quarter in the previous year, the company posted $0.01 EPS. The business’s revenue was up 20.2% compared to the same quarter last year. As a group, sell-side analysts predict that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Institutional Investors Weigh In On First Watch Restaurant Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in shares of First Watch Restaurant Group by 67.3% during the 1st quarter. Royal Bank of Canada now owns 54,267 shares of the company’s stock valued at $903,000 after buying an additional 21,830 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of First Watch Restaurant Group by 31.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,766 shares of the company’s stock worth $379,000 after acquiring an additional 5,497 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of First Watch Restaurant Group by 30.3% during the second quarter. PNC Financial Services Group Inc. now owns 22,082 shares of the company’s stock worth $354,000 after acquiring an additional 5,139 shares in the last quarter. Geode Capital Management LLC boosted its position in First Watch Restaurant Group by 4.2% during the second quarter. Geode Capital Management LLC now owns 1,022,752 shares of the company’s stock valued at $16,407,000 after purchasing an additional 40,823 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its stake in First Watch Restaurant Group by 17.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,108 shares of the company’s stock valued at $146,000 after purchasing an additional 1,341 shares in the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. TD Cowen cut their price objective on First Watch Restaurant Group from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Zacks Research upgraded First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Stephens cut their target price on First Watch Restaurant Group from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Piper Sandler reaffirmed an “overweight” rating and set a $19.00 target price on shares of First Watch Restaurant Group in a report on Tuesday, February 24th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of First Watch Restaurant Group in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, First Watch Restaurant Group presently has an average rating of “Moderate Buy” and an average price target of $19.75.

About First Watch Restaurant Group

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.