Oppenheimer Asset Management Inc. Takes Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Oppenheimer Asset Management Inc. bought a new position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,956 shares of the company’s stock, valued at approximately $204,000.

Other institutional investors also recently modified their holdings of the company. Jane Street Group LLC grew its holdings in First Watch Restaurant Group by 1.1% in the third quarter. Jane Street Group LLC now owns 49,358 shares of the company’s stock worth $770,000 after purchasing an additional 551 shares during the period. Bank of New York Mellon Corp boosted its position in shares of First Watch Restaurant Group by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 78,621 shares of the company’s stock worth $1,463,000 after purchasing an additional 2,033 shares in the last quarter. Rocky Mountain Advisers LLC increased its position in First Watch Restaurant Group by 180.1% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company’s stock valued at $103,000 after buying an additional 4,250 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in First Watch Restaurant Group during the fourth quarter valued at $81,000. Finally, SRH Advisors LLC boosted its holdings in First Watch Restaurant Group by 84.3% in the fourth quarter. SRH Advisors LLC now owns 12,185 shares of the company’s stock worth $227,000 after acquiring an additional 5,575 shares in the last quarter. 96.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Piper Sandler raised their price target on First Watch Restaurant Group from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Raymond James lifted their target price on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. TD Cowen increased their price target on shares of First Watch Restaurant Group from $18.00 to $21.00 and gave the company a “hold” rating in a report on Friday, November 8th. Stephens reissued an “overweight” rating and set a $25.00 price target on shares of First Watch Restaurant Group in a research report on Tuesday, January 28th. Finally, Barclays upped their price objective on First Watch Restaurant Group from $18.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.33.

First Watch Restaurant Group Trading Up 1.5 %

NASDAQ:FWRG opened at $19.00 on Friday. The company has a market cap of $1.15 billion, a PE ratio of 57.58, a price-to-earnings-growth ratio of 3.38 and a beta of 0.91. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The company has a 50 day simple moving average of $19.96 and a two-hundred day simple moving average of $18.10. First Watch Restaurant Group, Inc. has a 12 month low of $12.90 and a 12 month high of $25.98.

About First Watch Restaurant Group

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.