Jay Anthony Wolszczak Sells 5,743 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) insider Jay Anthony Wolszczak sold 5,743 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $96,539.83. Following the completion of the sale, the insider now owns 37,768 shares in the company, valued at approximately $634,880.08. The trade was a 13.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

First Watch Restaurant Group Stock Up 0.4 %

Shares of FWRG opened at $16.49 on Friday. The business’s 50 day simple moving average is $19.77 and its 200-day simple moving average is $18.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. First Watch Restaurant Group, Inc. has a one year low of $12.90 and a one year high of $25.98. The company has a market capitalization of $998.80 million, a P/E ratio of 49.97, a PEG ratio of 3.38 and a beta of 0.90.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $263.30 million during the quarter, compared to the consensus estimate of $262.82 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.04 earnings per share. As a group, sell-side analysts predict that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on FWRG shares. Barclays restated an “overweight” rating and issued a $21.00 price target (down from $24.00) on shares of First Watch Restaurant Group in a research report on Tuesday. Benchmark restated a “buy” rating on shares of First Watch Restaurant Group in a research note on Wednesday. TD Securities reiterated a “hold” rating and issued a $21.00 price objective on shares of First Watch Restaurant Group in a research report on Wednesday. Sanford C. Bernstein set a $21.00 price objective on First Watch Restaurant Group in a research report on Tuesday. Finally, Stephens reaffirmed an “overweight” rating and issued a $25.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, First Watch Restaurant Group presently has a consensus rating of “Moderate Buy” and an average price target of $22.36.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Assetmark Inc. raised its position in shares of First Watch Restaurant Group by 68.7% during the fourth quarter. Assetmark Inc. now owns 2,455 shares of the company’s stock worth $46,000 after acquiring an additional 1,000 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in First Watch Restaurant Group during the 4th quarter worth about $51,000. State of Wyoming lifted its position in First Watch Restaurant Group by 212.6% during the 4th quarter. State of Wyoming now owns 3,214 shares of the company’s stock valued at $60,000 after purchasing an additional 2,186 shares during the period. Venturi Wealth Management LLC bought a new position in shares of First Watch Restaurant Group in the 4th quarter valued at about $81,000. Finally, BNP Paribas Financial Markets acquired a new stake in shares of First Watch Restaurant Group during the 4th quarter worth approximately $86,000. Institutional investors and hedge funds own 96.11% of the company’s stock.

First Watch Restaurant Group Company 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.