First Watch Restaurant Group, Inc. $FWRG Shares Acquired by Hodges Capital Management Inc.

Hodges Capital Management Inc. raised its position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 113.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,481,777 shares of the company’s stock after acquiring an additional 788,436 shares during the period. First Watch Restaurant Group makes up 1.3% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 17th largest holding. Hodges Capital Management Inc. owned 2.40% of First Watch Restaurant Group worth $15,529,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of First Watch Restaurant Group by 67.3% during the 1st quarter. Royal Bank of Canada now owns 54,267 shares of the company’s stock worth $903,000 after purchasing an additional 21,830 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of First Watch Restaurant Group by 31.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 22,766 shares of the company’s stock valued at $379,000 after purchasing an additional 5,497 shares during the period. Legal & General Group Plc boosted its holdings in First Watch Restaurant Group by 1.6% during the second quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock worth $730,000 after buying an additional 724 shares in the last quarter. Rhumbline Advisers boosted its holdings in First Watch Restaurant Group by 45.8% during the second quarter. Rhumbline Advisers now owns 73,882 shares of the company’s stock worth $1,185,000 after buying an additional 23,205 shares in the last quarter. Finally, American Century Companies Inc. grew its position in First Watch Restaurant Group by 43.4% during the second quarter. American Century Companies Inc. now owns 72,166 shares of the company’s stock worth $1,158,000 after buying an additional 21,846 shares during the period. Hedge funds and other institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Price Performance

Shares of NASDAQ FWRG opened at $13.09 on Monday. First Watch Restaurant Group, Inc. has a 1-year low of $9.97 and a 1-year high of $19.53. The business has a 50-day moving average of $11.77 and a 200-day moving average of $13.34. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.25. The company has a market capitalization of $807.00 million, a price-to-earnings ratio of 46.75, a PEG ratio of 6.77 and a beta of 1.03.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.02). First Watch Restaurant Group had a net margin of 1.38% and a return on equity of 2.85%. The business had revenue of $330.96 million for the quarter, compared to analyst estimates of $329.35 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. On average, equities analysts anticipate that First Watch Restaurant Group, Inc. will post 0.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on FWRG shares. Freedom Capital raised First Watch Restaurant Group to a “strong-buy” rating in a report on Wednesday, July 1st. Benchmark decreased their price objective on shares of First Watch Restaurant Group from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Stifel Nicolaus set a $14.00 price objective on shares of First Watch Restaurant Group in a research note on Tuesday, May 5th. Wall Street Zen upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a report on Sunday, June 21st. Finally, Weiss Ratings cut shares of First Watch Restaurant Group from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.27.

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.