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

First Dallas Securities Inc. grew its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 327.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 166,750 shares of the company’s stock after acquiring an additional 127,750 shares during the period. First Dallas Securities Inc.’s holdings in First Watch Restaurant Group were worth $1,748,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FWRG. Rockefeller Capital Management L.P. bought a new stake in shares of First Watch Restaurant Group during the 4th quarter valued at $63,000. State of Wyoming purchased a new stake in First Watch Restaurant Group during the 4th quarter worth about $64,000. Kemnay Advisory Services Inc. bought a new position in First Watch Restaurant Group in the 4th quarter worth about $66,000. BNP Paribas Financial Markets boosted its stake in First Watch Restaurant Group by 61.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock worth $70,000 after purchasing an additional 1,673 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in First Watch Restaurant Group by 17,042.4% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 5,657 shares of the company’s stock worth $85,000 after purchasing an additional 5,624 shares during the period. 96.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FWRG shares. 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. Wall Street Zen upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “sell” rating in a research report on Sunday, June 21st. TD Cowen restated 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. Stifel Nicolaus set a $14.00 price objective on shares of First Watch Restaurant Group in a research note on Tuesday, May 5th. Finally, Benchmark decreased their target price on shares of First Watch Restaurant Group from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $19.27.

First Watch Restaurant Group Price Performance

Shares of NASDAQ FWRG opened at $13.09 on Friday. The stock’s 50-day simple moving average is $11.77 and its two-hundred day simple moving average is $13.37. First Watch Restaurant Group, Inc. has a twelve month low of $9.97 and a twelve month high of $19.53. The firm 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 quick ratio of 0.25, a current ratio of 0.29 and a debt-to-equity ratio of 0.43.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $329.35 million. During the same quarter last year, the business posted ($0.01) EPS. The business’s revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts anticipate that First Watch Restaurant Group, Inc. will post 0.2 EPS for the current fiscal 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.