First Watch Restaurant Group (NASDAQ:FWRG) Insider Sells $39,575.72 in Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) insider Jay Anthony Wolszczak sold 3,161 shares of the company’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $12.52, for a total transaction of $39,575.72. Following the completion of the transaction, the insider owned 228,930 shares of the company’s stock, valued at $2,866,203.60. This represents a 1.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Jay Anthony Wolszczak also recently made the following trade(s):

• On Tuesday, March 10th, Jay Anthony Wolszczak sold 6,998 shares of First Watch Restaurant Group stock. The stock was sold at an average price of $12.59, for a total value of $88,104.82.

First Watch Restaurant Group Stock Performance

Shares of First Watch Restaurant Group stock traded up $0.07 on Thursday, hitting $12.39. The stock had a trading volume of 1,222,836 shares, compared to its average volume of 1,752,333. The stock has a market cap of $757.50 million, a price-to-earnings ratio of 39.97, a P/E/G ratio of 2.54 and a beta of 0.92. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 0.43. First Watch Restaurant Group, Inc. has a 52-week low of $11.44 and a 52-week high of $20.55. The company’s 50 day moving average price is $14.99 and its 200 day moving average price is $16.18.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FWRG. DA Davidson initiated coverage on shares of First Watch Restaurant Group in a research report on Friday, March 6th. They set a “buy” rating and a $17.00 target price on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. Piper Sandler reissued an “overweight” rating and set a $19.00 price objective on shares of First Watch Restaurant Group in a research report on Tuesday, February 24th. Guggenheim dropped their price objective 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. Finally, Barclays reduced their target price 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. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

Institutional Investors Weigh In On First Watch Restaurant Group

Large investors have recently modified their holdings of the stock. Royal Bank of Canada lifted its holdings in shares of First Watch Restaurant Group by 67.3% during the first quarter. Royal Bank of Canada now owns 54,267 shares of the company’s stock worth $903,000 after purchasing an additional 21,830 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in First Watch Restaurant Group by 31.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,766 shares of the company’s stock valued at $379,000 after buying an additional 5,497 shares during the period. PNC Financial Services Group Inc. raised its position in First Watch Restaurant Group by 30.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 22,082 shares of the company’s stock worth $354,000 after buying an additional 5,139 shares during the last quarter. Geode Capital Management LLC raised its position in First Watch Restaurant Group by 4.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,022,752 shares of the company’s stock worth $16,407,000 after buying an additional 40,823 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey lifted its stake in shares of First Watch Restaurant Group by 17.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,108 shares of the company’s stock worth $146,000 after acquiring an additional 1,341 shares during the period. Hedge funds and other institutional investors own 96.11% of the company’s stock.

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.