First Watch Restaurant Group, Inc. $FWRG Stock Holdings Lifted by Federated Hermes Inc.

Federated Hermes Inc. increased its holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 997,300 shares of the company’s stock after buying an additional 40,300 shares during the period. Federated Hermes Inc. owned about 1.63% of First Watch Restaurant Group worth $15,598,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of FWRG. The Manufacturers Life Insurance Company lifted its holdings in First Watch Restaurant Group by 51.7% in the second 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 lifted its holdings in shares of First Watch Restaurant Group by 13.4% in the 2nd quarter. Lazard Asset Management LLC now owns 2,281,137 shares of the company’s stock worth $36,589,000 after purchasing an additional 269,726 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of First Watch Restaurant Group by 1.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,213,754 shares of the company’s stock worth $35,509,000 after purchasing an additional 39,648 shares during the last quarter. Marshall Wace LLP boosted its position in First Watch Restaurant Group by 33.5% during the 2nd quarter. Marshall Wace LLP now owns 1,203,109 shares of the company’s stock valued at $19,298,000 after purchasing an additional 301,572 shares during the period. Finally, Loomis Sayles & Co. L P bought a new position in First Watch Restaurant Group during the 2nd quarter worth $18,350,000. Institutional investors and hedge funds own 96.11% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on FWRG. Wall Street Zen upgraded First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. Barclays decreased their target price on shares of First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. Finally, Zacks Research cut First Watch Restaurant Group from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $20.91.

First Watch Restaurant Group Trading Down 1.1%

Shares of NASDAQ:FWRG opened at $15.99 on Friday. The company has a 50 day moving average of $16.51 and a 200-day moving average of $16.98. The company has a current ratio of 0.25, a quick ratio of 0.21 and a debt-to-equity ratio of 0.41. The firm has a market cap of $975.87 million, a P/E ratio of 199.90, a P/E/G ratio of 2.94 and a beta of 0.88. First Watch Restaurant Group, Inc. has a twelve month low of $12.90 and a twelve month high of $22.71.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results on Tuesday, November 4th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). The firm had revenue of $316.02 million for the quarter, compared to the consensus estimate of $308.31 million. First Watch Restaurant Group had a return on equity of 0.83% and a net margin of 0.42%. As a group, analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at First Watch Restaurant Group

In related news, Director William A. Kussell sold 6,165 shares of the firm’s stock in a transaction dated Thursday, January 22nd. The stock was sold at an average price of $17.00, for a total transaction of $104,805.00. Following the completion of the transaction, the director owned 26,402 shares of the company’s stock, valued at $448,834. This trade represents a 18.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.00% of the stock is currently owned by company insiders.

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.