UBS Group AG Increases Stock Holdings in First Watch Restaurant Group, Inc. $FWRG

UBS Group AG lifted its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 9.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 909,250 shares of the company’s stock after buying an additional 80,915 shares during the period. UBS Group AG’s holdings in First Watch Restaurant Group were worth $13,711,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Jones Financial Companies Lllp purchased a new position in shares of First Watch Restaurant Group during the third quarter valued at approximately $30,000. BNP Paribas Financial Markets lifted its position in shares of First Watch Restaurant Group by 61.9% during the second 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 in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of First Watch Restaurant Group by 435.5% during the second quarter. Tower Research Capital LLC TRC now owns 7,277 shares of the company’s stock valued at $117,000 after purchasing an additional 5,918 shares in the last quarter. Comerica Bank lifted its position in shares of First Watch Restaurant Group by 30.2% during the third quarter. Comerica Bank now owns 8,577 shares of the company’s stock valued at $134,000 after purchasing an additional 1,991 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of First Watch Restaurant Group during the fourth quarter valued at about $162,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Stock Performance

NASDAQ FWRG opened at $10.76 on Friday. The company’s 50 day moving average is $11.92 and its 200-day moving average is $14.76. First Watch Restaurant Group, Inc. has a 12-month low of $10.09 and a 12-month high of $19.53. The company has a quick ratio of 0.25, a current ratio of 0.29 and a debt-to-equity ratio of 0.43. The firm has a market cap of $663.35 million, a P/E ratio of 38.43, a price-to-earnings-growth ratio of 5.62 and a beta of 1.11.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). First Watch Restaurant Group had a net margin of 1.38% and a return on equity of 2.85%. The business had revenue of $330.96 million during the quarter, compared to the consensus estimate of $329.35 million. During the same period last year, the firm earned ($0.01) EPS. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. Sell-side analysts predict that First Watch Restaurant Group, Inc. will post 0.2 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO H Melville Hope III sold 3,878 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $12.52, for a total value of $48,552.56. Following the sale, the chief financial officer owned 111,787 shares of the company’s stock, valued at $1,399,573.24. The trade was a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Matthew Eisenacher sold 2,760 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $12.52, for a total transaction of $34,555.20. Following the completion of the sale, the insider directly owned 67,223 shares in the company, valued at approximately $841,631.96. This trade represents a 3.94% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 68,013 shares of company stock valued at $853,606. Corporate insiders own 6.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FWRG shares. Stifel Nicolaus set a $14.00 price target on shares of First Watch Restaurant Group in a research report on Tuesday, May 5th. Benchmark dropped their price target on First Watch Restaurant Group from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, April 20th. DA Davidson reiterated a “buy” rating and set a $17.00 price target on shares of First Watch Restaurant Group in a report on Tuesday, April 28th. Zacks Research upgraded First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Finally, Citigroup dropped their price target on First Watch Restaurant Group from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $19.25.

First Watch Restaurant Group Company 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.