First Dallas Securities Inc. Buys 127,750 Shares of First Watch Restaurant Group, Inc. $FWRG

First Dallas Securities Inc. boosted its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 327.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 166,750 shares of the company’s stock after buying an additional 127,750 shares during the quarter. First Dallas Securities Inc. owned approximately 0.27% of First Watch Restaurant Group worth $1,748,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Legal & General Group Plc increased its position 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 valued at $730,000 after purchasing an additional 724 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of First Watch Restaurant Group by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 46,092 shares of the company’s stock worth $695,000 after buying an additional 832 shares during the last quarter. Diversified Trust Co grew its position in First Watch Restaurant Group by 4.7% during the first quarter. Diversified Trust Co now owns 25,654 shares of the company’s stock valued at $269,000 after buying an additional 1,154 shares during the period. Intech Investment Management LLC grew its position in First Watch Restaurant Group by 11.1% during the fourth quarter. Intech Investment Management LLC now owns 16,041 shares of the company’s stock valued at $242,000 after buying an additional 1,606 shares during the period. Finally, BNP Paribas Financial Markets increased 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 worth $70,000 after buying an additional 1,673 shares during the last quarter. 96.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on FWRG shares. TD Cowen reaffirmed a “buy” rating and issued a $17.00 price objective on shares of First Watch Restaurant Group in a research report on Wednesday, June 3rd. Stephens reissued an “overweight” rating and set a $21.00 target price on shares of First Watch Restaurant Group in a research report on Wednesday, May 6th. Weiss Ratings lowered shares of First Watch Restaurant Group from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Freedom Capital raised shares of First Watch Restaurant Group to a “strong-buy” rating in a report on Wednesday. Finally, DA Davidson reaffirmed a “buy” rating and issued a $17.00 price target on shares of First Watch Restaurant Group in a report on Tuesday, April 28th. 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 issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $19.27.

First Watch Restaurant Group Stock Performance

Shares of First Watch Restaurant Group stock opened at $13.09 on Friday. First Watch Restaurant Group, Inc. has a 52-week low of $9.97 and a 52-week high of $19.53. The stock’s 50-day simple moving average is $11.77 and its 200 day simple moving average is $13.37. The stock has a market capitalization of $807.00 million, a P/E ratio of 46.75, a P/E/G ratio of 6.77 and a beta of 1.03. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.25 and a current ratio of 0.29.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate 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 net margin of 1.38% and a return on equity of 2.85%. First Watch Restaurant Group’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the company earned ($0.01) earnings per share. As a group, research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.2 EPS for the current year.

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.