Christopher Anthony Tomasso Sells 25,062 Shares of First Watch Restaurant Group (NASDAQ:FWRG) Stock

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

First Watch Restaurant Group Stock Performance

NASDAQ FWRG traded up $0.07 during trading hours 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. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $14.99 and a 200 day simple moving average of $16.18. First Watch Restaurant Group, Inc. has a 52 week low of $11.44 and a 52 week high of $20.55. 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 results on Tuesday, February 24th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.16. The business had revenue of $316.35 million for the quarter, compared to analysts’ expectations of $317.49 million. First Watch Restaurant Group had a return on equity of 3.20% and a net margin of 1.59%.The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. Equities research analysts predict that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FWRG shares. Barclays reduced their price target on shares of First Watch Restaurant Group from $19.00 to $17.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Piper Sandler reiterated an “overweight” rating and issued a $19.00 price objective on shares of First Watch Restaurant Group in a research report on Tuesday, February 24th. TD Cowen decreased their target price on shares of 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. Stephens cut their price target on First Watch Restaurant Group from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Finally, DA Davidson started coverage on First Watch Restaurant Group in a research report on Friday, March 6th. They set a “buy” rating and a $17.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, First Watch Restaurant Group presently has a consensus rating of “Moderate Buy” and an average price target of $19.75.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jones Financial Companies Lllp bought a new stake in First Watch Restaurant Group during the third quarter worth approximately $30,000. Rockefeller Capital Management L.P. bought a new position in First Watch Restaurant Group during the 4th quarter valued at $63,000. State of Wyoming acquired a new position in shares of First Watch Restaurant Group during the 4th quarter valued at $64,000. Kemnay Advisory Services Inc. bought a new stake in shares of First Watch Restaurant Group in the 4th quarter worth $66,000. Finally, BNP Paribas Financial Markets lifted its holdings 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 buying an additional 1,673 shares during the period. 96.11% of the stock is currently owned by institutional investors.

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.