Landscape Capital Management L.L.C. Buys New Holdings in First Watch Restaurant Group, Inc. $FWRG

Landscape Capital Management L.L.C. purchased a new stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) in the second quarter, HoldingsChannel.com reports. The firm purchased 314,117 shares of the company’s stock, valued at approximately $4,049,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP purchased a new position in shares of First Watch Restaurant Group in the 2nd quarter worth about $29,000. Rockefeller Capital Management L.P. purchased a new stake in shares of First Watch Restaurant Group during the 4th quarter worth about $63,000. State of Wyoming purchased a new stake in shares of First Watch Restaurant Group during the 4th quarter worth about $64,000. Kemnay Advisory Services Inc. acquired a new stake in First Watch Restaurant Group during the 4th quarter worth approximately $66,000. Finally, BNP Paribas Financial Markets increased its position in First Watch Restaurant Group by 61.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock worth $70,000 after purchasing an additional 1,673 shares in the last quarter. 96.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on FWRG. TD Cowen restated a “buy” rating and issued a $17.00 price target on shares of First Watch Restaurant Group in a report on Wednesday, June 3rd. Wall Street Zen raised shares of First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 8th. Freedom Capital upgraded shares of First Watch Restaurant Group to a “strong-buy” rating in a report on Wednesday, July 1st. Stephens reaffirmed 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. Finally, DA Davidson reiterated a “buy” rating and issued a $17.00 price target on shares of First Watch Restaurant Group in a report on Tuesday, April 28th. One investment 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $18.56.

First Watch Restaurant Group Price Performance

Shares of NASDAQ:FWRG opened at $13.03 on Friday. The company has a quick ratio of 0.22, a current ratio of 0.27 and a debt-to-equity ratio of 0.44. First Watch Restaurant Group, Inc. has a fifty-two week low of $9.97 and a fifty-two week high of $19.53. The firm has a 50-day simple moving average of $12.44 and a 200 day simple moving average of $12.50. The company has a market cap of $804.11 million, a PE ratio of 44.93, a P/E/G ratio of 21.05 and a beta of 1.03.

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

First Watch Restaurant Group 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.