Hunter Associates Investment Management LLC Takes $1.60 Million Position in First Watch Restaurant Group, Inc. $FWRG

Hunter Associates Investment Management LLC bought a new position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 151,970 shares of the company’s stock, valued at approximately $1,598,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. acquired a new stake in First Watch Restaurant Group in the 4th quarter valued at $63,000. State of Wyoming acquired a new position in First Watch Restaurant Group during the fourth quarter worth $64,000. Kemnay Advisory Services Inc. purchased a new position in First Watch Restaurant Group during the fourth quarter valued at $66,000. BNP Paribas Financial Markets lifted its holdings in 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. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in First Watch Restaurant Group by 17,042.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 5,657 shares of the company’s stock valued at $85,000 after purchasing an additional 5,624 shares in the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FWRG. Freedom Capital raised shares of First Watch Restaurant Group to a “strong-buy” rating in a research note on Wednesday. Stephens reaffirmed an “overweight” rating and issued a $21.00 price target on shares of First Watch Restaurant Group in a research note on Wednesday, May 6th. Benchmark lowered their price objective 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. Weiss Ratings cut First Watch Restaurant Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. Finally, TD Cowen reiterated a “buy” rating and set a $17.00 price objective on shares of First Watch Restaurant Group in a research note on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, First Watch Restaurant Group currently has an average rating of “Moderate Buy” and a consensus target price of $19.27.

First Watch Restaurant Group Stock Performance

Shares of FWRG stock opened at $13.09 on Friday. First Watch Restaurant Group, Inc. has a fifty-two week low of $9.97 and a fifty-two week high of $19.53. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.25 and a current ratio of 0.29. The stock’s fifty day moving average is $11.77 and its two-hundred day moving average is $13.37. The firm has a market capitalization of $807.00 million, a P/E ratio of 46.75, a PEG ratio of 6.77 and a beta of 1.03.

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

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.