First Watch Restaurant Group (NASDAQ:FWRG) Director William Kussell Sells 6,165 Shares

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director William Kussell sold 6,165 shares of the business’s stock in a transaction on Thursday, January 22nd. The shares were 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 in the company, valued at $448,834. This trade represents a 18.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

First Watch Restaurant Group Price Performance

NASDAQ:FWRG opened at $16.16 on Tuesday. 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 company has a 50-day moving average of $16.50 and a 200-day moving average of $17.00. First Watch Restaurant Group, Inc. has a 52 week low of $12.90 and a 52 week high of $22.71. The company has a market capitalization of $986.24 million, a price-to-earnings ratio of 202.03, a PEG ratio of 4.82 and a beta of 0.88.

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

Institutional Trading of First Watch Restaurant Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc grew its holdings in 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 acquiring an additional 724 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of First Watch Restaurant Group by 4.2% during the third quarter. PNC Financial Services Group Inc. now owns 23,016 shares of the company’s stock worth $360,000 after purchasing an additional 934 shares in the last quarter. First Horizon Advisors Inc. grew its stake 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. Police & Firemen s Retirement System of New Jersey grew its stake in shares of First Watch Restaurant Group by 17.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,108 shares of the company’s stock valued at $146,000 after purchasing an additional 1,341 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of First Watch Restaurant Group by 61.9% in 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. 96.11% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Barclays decreased their price target on First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 7th. 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 29th. Finally, Zacks Research downgraded shares of First Watch Restaurant Group from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.91.

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.