First Watch Restaurant Group, Inc. $FWRG Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. raised its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 4.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 997,300 shares of the company’s stock after buying an additional 40,300 shares during the period. Federated Hermes Inc.’s holdings in First Watch Restaurant Group were worth $15,598,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fifth Third Bancorp boosted its stake in shares of First Watch Restaurant Group by 8,815.8% during the 2nd quarter. Fifth Third Bancorp now owns 1,694 shares of the company’s stock worth $27,000 after acquiring an additional 1,675 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of First Watch Restaurant Group by 207.6% during the second quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock valued at $31,000 after purchasing an additional 1,316 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of First Watch Restaurant Group by 61.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock valued at $70,000 after purchasing an additional 1,673 shares during the period. Tower Research Capital LLC TRC increased its stake in First Watch Restaurant Group by 435.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,277 shares of the company’s stock worth $117,000 after purchasing an additional 5,918 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in First Watch Restaurant Group by 17.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,108 shares of the company’s stock worth $146,000 after buying an additional 1,341 shares during the period. Institutional investors own 96.11% of the company’s stock.

Analysts Set New Price Targets

FWRG has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of First Watch Restaurant Group from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Barclays decreased their price objective on shares of First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. Finally, Zacks Research lowered First Watch Restaurant Group from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.91.

First Watch Restaurant Group Stock Down 1.1%

First Watch Restaurant Group stock opened at $15.99 on Friday. First Watch Restaurant Group, Inc. has a twelve month low of $12.90 and a twelve month high of $22.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.21 and a current ratio of 0.25. The firm has a market cap of $975.87 million, a PE ratio of 199.90, a P/E/G ratio of 2.94 and a beta of 0.88. The firm’s 50 day moving average price is $16.51 and its two-hundred day moving average price is $16.98.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). First Watch Restaurant Group had a net margin of 0.42% and a return on equity of 0.83%. The company had revenue of $316.02 million for the quarter, compared to analysts’ expectations of $308.31 million. On average, research analysts predict that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director William A. Kussell sold 6,165 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $17.00, for a total transaction of $104,805.00. Following the completion of the sale, the director directly owned 26,402 shares of the company’s stock, valued at $448,834. This trade represents a 18.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.00% of the stock is currently owned by insiders.

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.