Legal & General Group Plc Acquires Shares of 48,927 First Watch Restaurant Group, Inc. $FWRG

Legal & General Group Plc bought a new position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 48,927 shares of the company’s stock, valued at approximately $631,000. Legal & General Group Plc owned about 0.08% of First Watch Restaurant Group as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royce & Associates LP acquired a new position in shares of First Watch Restaurant Group in the 4th quarter worth approximately $2,006,000. Riverbridge Partners LLC boosted its stake in First Watch Restaurant Group by 90.8% in the first quarter. Riverbridge Partners LLC now owns 2,091,700 shares of the company’s stock worth $21,921,000 after purchasing an additional 995,671 shares in the last quarter. Stephens Investment Management Group LLC grew its holdings in shares of First Watch Restaurant Group by 46.7% during the fourth quarter. Stephens Investment Management Group LLC now owns 1,367,051 shares of the company’s stock worth $20,615,000 after purchasing an additional 434,987 shares during the last quarter. Bank of America Corp DE increased its stake in shares of First Watch Restaurant Group by 76.7% in the first quarter. Bank of America Corp DE now owns 1,052,426 shares of the company’s stock valued at $11,029,000 after buying an additional 456,976 shares in the last quarter. Finally, BlackRock Inc. bought a new position in shares of First Watch Restaurant Group in the second quarter valued at about $58,445,000. 96.11% of the stock is currently owned by institutional investors and hedge funds.

Get First Watch Restaurant Group alerts:

First Watch Restaurant Group Price Performance

Shares of FWRG opened at $12.29 on Wednesday. The stock has a market cap of $758.42 million, a P/E ratio of 42.38, a price-to-earnings-growth ratio of 20.08 and a beta of 1.03. First Watch Restaurant Group, Inc. has a 1 year low of $9.97 and a 1 year high of $18.82. The stock’s 50-day moving average price is $12.53 and its two-hundred day moving average price is $12.13. The company has a current ratio of 0.27, a quick ratio of 0.22 and a debt-to-equity ratio of 0.44.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on FWRG shares. TD Cowen reissued a “buy” rating and set a $17.00 price objective on shares of First Watch Restaurant Group in a report on Wednesday, June 3rd. Weiss Ratings raised shares of First Watch Restaurant Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, August 28th. Citigroup lowered their price target on shares of First Watch Restaurant Group from $21.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, August 5th. Freedom Capital upgraded shares of First Watch Restaurant Group to a “strong-buy” rating in a research report on Wednesday, July 1st. Finally, Wall Street Zen raised First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.56.

Check Out Our Latest Research Report on First Watch Restaurant Group

First Watch Restaurant Group Profile

(Free Report)

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.

See Also

• Five stocks we like better than First Watch Restaurant Group
• Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
• Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock
• Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement
• Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For

Want to see what other hedge funds are holding FWRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Watch Restaurant Group, Inc. (NASDAQ:FWRG – Free Report).

Receive News & Ratings for First Watch Restaurant Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Watch Restaurant Group and related companies with MarketBeat.com's FREE daily email newsletter.