Russell Investments Group Ltd. Has $4.10 Million Holdings in First Watch Restaurant Group, Inc. $FWRG

Russell Investments Group Ltd. lifted its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 18.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 255,634 shares of the company’s stock after purchasing an additional 40,351 shares during the quarter. Russell Investments Group Ltd. owned 0.42% of First Watch Restaurant Group worth $4,100,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. American Century Companies Inc. increased its stake in First Watch Restaurant Group by 43.4% during the 2nd quarter. American Century Companies Inc. now owns 72,166 shares of the company’s stock worth $1,158,000 after acquiring an additional 21,846 shares during the period. Rhumbline Advisers lifted its position in shares of First Watch Restaurant Group by 45.8% during the 2nd quarter. Rhumbline Advisers now owns 73,882 shares of the company’s stock valued at $1,185,000 after acquiring an additional 23,205 shares during the period. Legal & General Group Plc grew its holdings in shares of First Watch Restaurant Group by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock worth $730,000 after purchasing an additional 724 shares in the last quarter. White Pine Capital LLC increased its position in shares of First Watch Restaurant Group by 41.8% in the second quarter. White Pine Capital LLC now owns 25,362 shares of the company’s stock worth $407,000 after purchasing an additional 7,480 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in First Watch Restaurant Group by 1.8% in the second quarter. JPMorgan Chase & Co. now owns 2,213,754 shares of the company’s stock valued at $35,509,000 after purchasing an additional 39,648 shares in the last quarter. 96.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FWRG. Wall Street Zen upgraded shares of First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Watch Restaurant Group in a report on Monday, December 1st. Finally, Zacks Research raised shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, First Watch Restaurant Group currently has an average rating of “Moderate Buy” and an average price target of $21.09.

Insider Activity

In other news, major shareholder International L.P. Advent sold 4,400,000 shares of the company’s stock in a transaction on Monday, September 8th. The shares were sold at an average price of $17.67, for a total transaction of $77,748,000.00. Following the completion of the transaction, the insider directly owned 5,289,784 shares in the company, valued at approximately $93,470,483.28. This represents a 45.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.00% of the company’s stock.

First Watch Restaurant Group Stock Down 2.2%

FWRG stock opened at $17.70 on Friday. The firm has a 50-day moving average price of $17.08 and a 200-day moving average price of $16.97. First Watch Restaurant Group, Inc. has a 12 month low of $12.90 and a 12 month high of $22.71. The company has a current ratio of 0.25, a quick ratio of 0.21 and a debt-to-equity ratio of 0.41. The stock has a market capitalization of $1.08 billion, a P/E ratio of 221.28, a price-to-earnings-growth ratio of 10.66 and a beta of 0.86.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The company had revenue of $316.02 million for the quarter, compared to analyst estimates of $308.31 million. First Watch Restaurant Group had a return on equity of 0.83% and a net margin of 0.42%. As a group, equities research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

First Watch Restaurant Group Profile

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.