Key Points
- Director William Kussell sold 6,165 shares of First Watch (FWRG) on January 22 at an average price of $17 for proceeds of $104,805, reducing his stake by 18.93% to 26,402 shares (SEC Form 4 filed).
- First Watch has a market cap of about $986 million and a high valuation (P/E ~202), and its most recent quarter showed an EPS miss of $0.05 versus a $0.08 consensus while revenue came in at $316.02 million.
- Analyst sentiment is mixed: the consensus rating is "Moderate Buy" with an average target of $20.91, though firms like Zacks have recently downgraded the stock and Barclays trimmed its price target to $19.
First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Get Free Report) Director William Kussell sold 6,165 shares of the business's stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $17.00, for a total value of $104,805.00. Following the sale, the director owned 26,402 shares of the company's stock, valued at approximately $448,834. The trade was a 18.93% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
First Watch Restaurant Group Price Performance
Shares of FWRG stock opened at $16.16 on Tuesday. The firm has a market cap of $986.24 million, a price-to-earnings ratio of 202.03, a PEG ratio of 4.82 and a beta of 0.88. First Watch Restaurant Group, Inc. has a 12 month low of $12.90 and a 12 month high of $22.71. The company has a quick ratio of 0.21, a current ratio of 0.25 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average price of $16.50 and a 200 day moving average price of $17.00.
First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last issued its earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The business had revenue of $316.02 million during the quarter, compared to the consensus estimate of $308.31 million. First Watch Restaurant Group had a net margin of 0.42% and a return on equity of 0.83%. Research analysts expect that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FWRG. Fifth Third Bancorp increased its holdings in shares of First Watch Restaurant Group by 8,815.8% in the second quarter. Fifth Third Bancorp now owns 1,694 shares of the company's stock worth $27,000 after acquiring an additional 1,675 shares in the last quarter. Jones Financial Companies Lllp acquired a new position in shares of First Watch Restaurant Group in the 3rd quarter valued at approximately $30,000. First Horizon Advisors Inc. grew its position in shares of First Watch Restaurant Group by 207.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company's stock valued at $31,000 after purchasing an additional 1,316 shares during the period. BNP Paribas Financial Markets increased its stake in First Watch Restaurant Group by 61.9% during 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 in the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in First Watch Restaurant Group by 435.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,277 shares of the company's stock worth $117,000 after buying an additional 5,918 shares during the period. 96.11% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have recently weighed in on FWRG. Zacks Research downgraded First Watch Restaurant Group from a "hold" rating to a "strong sell" rating in a research note on Monday, January 12th. Barclays dropped their price objective on First Watch Restaurant Group from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Wednesday, January 7th. Wall Street Zen upgraded First Watch Restaurant Group from a "sell" rating to a "hold" rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of First Watch Restaurant Group in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, First Watch Restaurant Group presently has an average rating of "Moderate Buy" and an average target price of $20.91.
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First Watch Restaurant Group Company Profile
(
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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.
Further Reading
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