LVW Advisors LLC Buys New Holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

LVW Advisors LLC bought a new stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,212 shares of the company’s stock, valued at approximately $227,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC raised its holdings in First Watch Restaurant Group by 9.6% during the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 1,074,612 shares of the company’s stock worth $21,600,000 after purchasing an additional 93,931 shares in the last quarter. Stephens Investment Management Group LLC grew its position in First Watch Restaurant Group by 16.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 353,041 shares of the company’s stock valued at $7,096,000 after buying an additional 50,057 shares during the last quarter. Invesco Ltd. acquired a new stake in First Watch Restaurant Group in the third quarter valued at $8,940,000. 12 West Capital Management LP acquired a new position in shares of First Watch Restaurant Group during the 3rd quarter worth $3,717,000. Finally, Foxhaven Asset Management LP raised its stake in shares of First Watch Restaurant Group by 44.3% during the 4th quarter. Foxhaven Asset Management LP now owns 1,046,362 shares of the company’s stock worth $21,032,000 after buying an additional 321,375 shares during the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

First Watch Restaurant Group Stock Performance

Shares of FWRG opened at $17.56 on Monday. The business’s 50 day moving average is $20.20 and its two-hundred day moving average is $21.58. First Watch Restaurant Group, Inc. has a 52-week low of $16.19 and a 52-week high of $25.98. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 46.21, a PEG ratio of 2.25 and a beta of 0.88. The company has a quick ratio of 0.55, a current ratio of 0.60 and a debt-to-equity ratio of 0.21.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. First Watch Restaurant Group had a net margin of 2.52% and a return on equity of 4.15%. The business had revenue of $242.40 million during the quarter, compared to analyst estimates of $245.03 million. During the same period in the previous year, the business posted $0.15 EPS. The company’s quarterly revenue was up 14.7% on a year-over-year basis. Analysts forecast that First Watch Restaurant Group, Inc. will post 0.39 EPS for the current fiscal year.

Insider Activity

In other First Watch Restaurant Group news, Director William A. Kussell sold 8,386 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $22.10, for a total transaction of $185,330.60. Following the completion of the transaction, the director now directly owns 12,409 shares of the company’s stock, valued at approximately $274,238.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FWRG shares. Barclays cut their price target on First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. TD Cowen cut their target price on shares of First Watch Restaurant Group from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Thursday, June 13th. Stifel Nicolaus lifted their price target on First Watch Restaurant Group from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Finally, Citigroup lifted their price target on First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, First Watch Restaurant Group has a consensus rating of “Moderate Buy” and an average price target of $24.83.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc, through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc and changed its name to First Watch Restaurant Group, Inc in December 2019. First Watch Restaurant Group, Inc was founded in 1983 and is based in Bradenton, Florida.