First Watch Restaurant Group (NASDAQ:FWRG) Insider Laura Anne Sorensen Sells 1,697 Shares

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) insider Laura Anne Sorensen sold 1,697 shares of the business’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $12.52, for a total value of $21,246.44. Following the completion of the transaction, the insider owned 237,353 shares of the company’s stock, valued at $2,971,659.56. This represents a 0.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Laura Anne Sorensen also recently made the following trade(s):

• On Tuesday, March 10th, Laura Anne Sorensen sold 4,732 shares of First Watch Restaurant Group stock. The shares were sold at an average price of $12.59, for a total value of $59,575.88.

First Watch Restaurant Group Stock Performance

Shares of First Watch Restaurant Group stock traded up $0.07 during trading on Thursday, hitting $12.39. 1,222,836 shares of the company’s stock traded hands, compared to its average volume of 1,752,333. First Watch Restaurant Group, Inc. has a 1 year low of $11.44 and a 1 year high of $20.55. The business has a 50-day simple moving average of $14.99 and a 200-day simple moving average of $16.18. The stock has a market capitalization of $757.50 million, a P/E ratio of 39.97, a PEG ratio of 2.54 and a beta of 0.92. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.25.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its earnings results on Tuesday, February 24th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.16. The business had revenue of $316.35 million during the quarter, compared to analyst estimates of $317.49 million. First Watch Restaurant Group had a return on equity of 3.20% and a net margin of 1.59%.First Watch Restaurant Group’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 EPS. As a group, analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Hedge Funds Weigh In On First Watch Restaurant Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in First Watch Restaurant Group by 15.0% during the fourth quarter. Vanguard Group Inc. now owns 3,320,929 shares of the company’s stock valued at $50,080,000 after buying an additional 432,634 shares during the period. Dimensional Fund Advisors LP raised its position in First Watch Restaurant Group by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,576,182 shares of the company’s stock worth $38,849,000 after acquiring an additional 133,402 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of First Watch Restaurant Group by 51.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,335,883 shares of the company’s stock worth $37,468,000 after acquiring an additional 796,191 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of First Watch Restaurant Group by 13.4% during the 2nd quarter. Lazard Asset Management LLC now owns 2,281,137 shares of the company’s stock worth $36,589,000 after acquiring an additional 269,726 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of First Watch Restaurant Group by 1.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,213,754 shares of the company’s stock valued at $35,509,000 after acquiring an additional 39,648 shares during the period. Hedge funds and other institutional investors own 96.11% of the company’s stock.

Wall Street Analysts Forecast Growth

FWRG has been the topic of a number of research analyst reports. DA Davidson assumed coverage on shares of First Watch Restaurant Group in a research report on Friday, March 6th. They set a “buy” rating and a $17.00 price objective on the stock. Zacks Research raised shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. TD Cowen lowered their price target on First Watch Restaurant Group from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Finally, Barclays dropped their price target on First Watch Restaurant Group from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, First Watch Restaurant Group has an average rating of “Moderate Buy” and an average price target of $19.75.

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.