Quantinno Capital Management LP Acquires 171,342 Shares of First Watch Restaurant Group, Inc. $FWRG

Quantinno Capital Management LP grew its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 1,448.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 183,171 shares of the company’s stock after acquiring an additional 171,342 shares during the quarter. Quantinno Capital Management LP owned 0.30% of First Watch Restaurant Group worth $1,920,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FWRG. Rockefeller Capital Management L.P. purchased a new position in shares of First Watch Restaurant Group in the fourth quarter worth about $63,000. State of Wyoming bought a new position in First Watch Restaurant Group during the 4th quarter worth approximately $64,000. Kemnay Advisory Services Inc. purchased a new position in First Watch Restaurant Group in the 4th quarter worth approximately $66,000. BNP Paribas Financial Markets lifted its position in 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 purchasing an additional 1,673 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of First Watch Restaurant Group by 17,042.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,657 shares of the company’s stock valued at $85,000 after purchasing an additional 5,624 shares during the period. 96.11% of the stock is owned by institutional investors.

First Watch Restaurant Group Trading Down 2.1%

FWRG opened at $11.78 on Wednesday. The stock has a market cap of $726.94 million, a PE ratio of 40.62, a PEG ratio of 20.05 and a beta of 1.03. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.44. The business has a 50 day moving average of $12.16 and a 200-day moving average of $12.68. First Watch Restaurant Group, Inc. has a 52 week low of $9.97 and a 52 week high of $19.53.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The firm had revenue of $354.67 million during the quarter, compared to analysts’ expectations of $351.57 million. First Watch Restaurant Group had a return on equity of 2.85% and a net margin of 1.35%.First Watch Restaurant Group’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share. Equities research analysts predict that First Watch Restaurant Group, Inc. will post 0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

FWRG has been the subject of a number of recent analyst reports. Benchmark lowered their price target on shares of First Watch Restaurant Group from $24.00 to $22.00 and set a “buy” rating for the company in a report on Monday, April 20th. Freedom Capital raised shares of 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 Saturday. Weiss Ratings raised First Watch Restaurant Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, August 4th. Finally, Citigroup reduced their price target on First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $18.56.

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.