Natixis Advisors LLC Makes New Investment in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Natixis Advisors LLC acquired a new stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 12,145 shares of the company’s stock, valued at approximately $226,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its holdings in First Watch Restaurant Group by 22.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company’s stock worth $30,988,000 after acquiring an additional 366,227 shares during the last quarter. ArrowMark Colorado Holdings LLC bought a new position in shares of First Watch Restaurant Group in the third quarter worth about $5,120,000. Point72 Asset Management L.P. purchased a new position in First Watch Restaurant Group during the third quarter valued at approximately $4,719,000. WCM Investment Management LLC raised its holdings in First Watch Restaurant Group by 44.2% during the fourth quarter. WCM Investment Management LLC now owns 947,240 shares of the company’s stock valued at $17,552,000 after acquiring an additional 290,173 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in First Watch Restaurant Group by 14.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,533,290 shares of the company’s stock valued at $23,919,000 after purchasing an additional 192,471 shares during the period. Institutional investors own 96.11% of the company’s stock.

Insider Buying and Selling at First Watch Restaurant Group

In other First Watch Restaurant Group news, CEO Christopher Anthony Tomasso sold 42,039 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $706,675.59. Following the transaction, the chief executive officer now directly owns 389,832 shares of the company’s stock, valued at $6,553,075.92. This trade represents a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jay Anthony Wolszczak sold 5,743 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total value of $96,539.83. Following the sale, the insider now owns 37,768 shares of the company’s stock, valued at approximately $634,880.08. This trade represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

First Watch Restaurant Group Stock Down 2.9 %

NASDAQ:FWRG opened at $16.86 on Friday. The company’s 50 day moving average is $19.36 and its two-hundred day moving average is $18.15. The company has a market cap of $1.02 billion, a PE ratio of 51.09, a P/E/G ratio of 3.38 and a beta of 0.91. First Watch Restaurant Group, Inc. has a twelve month low of $12.90 and a twelve month high of $25.98. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32.

First Watch Restaurant Group (NASDAQ:FWRG) last released its earnings results on Tuesday, March 11th. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The firm had revenue of $263.30 million for the quarter, compared to analyst estimates of $262.82 million. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $0.04 EPS. Analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Bank of America boosted their price target on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. Sanford C. Bernstein set a $21.00 target price on First Watch Restaurant Group in a research report on Tuesday, March 11th. Stephens reiterated an “overweight” rating and set a $24.00 price objective on shares of First Watch Restaurant Group in a report on Thursday, March 20th. Benchmark reiterated a “buy” rating on shares of First Watch Restaurant Group in a report on Wednesday, March 12th. Finally, TD Securities reiterated a “hold” rating and set a $21.00 price objective on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Watch Restaurant Group has a consensus rating of “Moderate Buy” and a consensus price target of $22.27.

First Watch Restaurant Group 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.