Stephens Investment Management Group LLC Acquires 292,748 Shares of First Watch Restaurant Group, Inc. $FWRG

Stephens Investment Management Group LLC lifted its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 21.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,659,799 shares of the company’s stock after buying an additional 292,748 shares during the quarter. Stephens Investment Management Group LLC’s holdings in First Watch Restaurant Group were worth $17,395,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Hunter Associates Investment Management LLC purchased a new stake in First Watch Restaurant Group during the first quarter valued at about $1,598,000. First Dallas Securities Inc. increased its holdings in shares of First Watch Restaurant Group by 327.6% in the first quarter. First Dallas Securities Inc. now owns 166,750 shares of the company’s stock worth $1,748,000 after buying an additional 127,750 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of First Watch Restaurant Group in the 1st quarter valued at about $428,000. 1492 Capital Management LLC bought a new stake in shares of First Watch Restaurant Group in the 1st quarter valued at about $1,812,000. Finally, Riverbridge Partners LLC lifted its stake in shares of First Watch Restaurant Group by 90.8% in the 1st quarter. Riverbridge Partners LLC now owns 2,091,700 shares of the company’s stock valued at $21,921,000 after acquiring an additional 995,671 shares during the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FWRG shares. Stephens restated an “overweight” rating and set a $21.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, May 6th. Freedom Capital raised First Watch Restaurant Group to a “strong-buy” rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a report on Sunday, June 21st. TD Cowen reaffirmed a “buy” rating and issued a $17.00 target price on shares of First Watch Restaurant Group in a research note on Wednesday, June 3rd. Finally, DA Davidson reaffirmed a “buy” rating and issued a $17.00 target price on shares of First Watch Restaurant Group in a research note on Tuesday, April 28th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, First Watch Restaurant Group presently has a consensus rating of “Moderate Buy” and an average target price of $19.27.

First Watch Restaurant Group Price Performance

Shares of NASDAQ FWRG opened at $13.09 on Monday. First Watch Restaurant Group, Inc. has a 1 year low of $9.97 and a 1 year high of $19.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.25. The company’s 50-day moving average is $11.77 and its 200 day moving average is $13.34. The stock has a market capitalization of $807.00 million, a P/E ratio of 46.75, a P/E/G ratio of 6.77 and a beta of 1.03.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). First Watch Restaurant Group had a return on equity of 2.85% and a net margin of 1.38%.The company had revenue of $330.96 million during the quarter, compared to analysts’ expectations of $329.35 million. During the same quarter last year, the business earned ($0.01) earnings per share. The business’s quarterly revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts expect that First Watch Restaurant Group, Inc. will post 0.2 earnings per share for the current year.

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.