Hunter Associates Investment Management LLC Buys New Holdings in First Watch Restaurant Group, Inc. $FWRG

Hunter Associates Investment Management LLC purchased a new position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 151,970 shares of the company’s stock, valued at approximately $1,598,000. Hunter Associates Investment Management LLC owned 0.25% of First Watch Restaurant Group at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FWRG. Legal & General Group Plc boosted its holdings in shares of First Watch Restaurant Group by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock valued at $730,000 after acquiring an additional 724 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of First Watch Restaurant Group by 1.8% during the fourth quarter. California State Teachers Retirement System now owns 46,092 shares of the company’s stock worth $695,000 after purchasing an additional 832 shares during the last quarter. Diversified Trust Co lifted 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 purchasing an additional 1,154 shares during the period. Intech Investment Management LLC lifted 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 purchasing an additional 1,606 shares during the period. Finally, BNP Paribas Financial Markets boosted its holdings in 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 during the last quarter. 96.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FWRG has been the topic of several analyst reports. DA Davidson reaffirmed a “buy” rating and set a $17.00 price target on shares of First Watch Restaurant Group in a research report on Tuesday, April 28th. Wall Street Zen raised First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a report on Sunday, June 21st. Weiss Ratings downgraded 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 First Watch Restaurant Group to a “strong-buy” rating in a report on Wednesday. Finally, Stephens reiterated an “overweight” rating and set a $21.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, May 6th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.27.

First Watch Restaurant Group Stock Performance

Shares of NASDAQ FWRG opened at $13.09 on Friday. The company has a market capitalization of $807.00 million, a PE ratio of 46.75, a price-to-earnings-growth 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. The company’s fifty day moving average price is $11.77 and its 200 day moving average price is $13.37. First Watch Restaurant Group, Inc. has a 1 year low of $9.97 and a 1 year high of $19.53.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). The firm had revenue of $330.96 million during 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%. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) EPS. On average, research analysts predict that First Watch Restaurant Group, Inc. will post 0.2 earnings per share for the current year.

About First Watch Restaurant Group

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.