Raymond James Financial Inc. acquired a new position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 89,969 shares of the company's stock, valued at approximately $1,674,000. Raymond James Financial Inc. owned 0.15% of First Watch Restaurant Group at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Arizona State Retirement System acquired a new stake in shares of First Watch Restaurant Group in the fourth quarter worth $228,000. Barclays PLC boosted its position in First Watch Restaurant Group by 505.3% during the 3rd quarter. Barclays PLC now owns 172,515 shares of the company's stock worth $2,690,000 after acquiring an additional 144,014 shares during the period. Allspring Global Investments Holdings LLC grew its stake in First Watch Restaurant Group by 9.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 576,890 shares of the company's stock valued at $10,736,000 after acquiring an additional 49,826 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of First Watch Restaurant Group by 22.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company's stock valued at $30,988,000 after purchasing an additional 366,227 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of First Watch Restaurant Group by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 769,608 shares of the company's stock valued at $12,008,000 after purchasing an additional 91,416 shares during the period. 96.11% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Jay Anthony Wolszczak sold 5,743 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $96,539.83. Following the transaction, the insider now owns 37,768 shares of the company's stock, valued at approximately $634,880.08. The trade was a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $706,675.59. Following the transaction, the chief executive officer now owns 389,832 shares of the company's stock, valued at approximately $6,553,075.92. The trade was a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.

FWRG opened at $16.65 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.54. The company has a market cap of $1.01 billion, a PE ratio of 50.46, a price-to-earnings-growth ratio of 3.38 and a beta of 0.91. The stock has a 50-day moving average of $19.34 and a 200-day moving average of $18.21. First Watch Restaurant Group, Inc. has a 52-week low of $12.90 and a 52-week high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its 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). First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The company had revenue of $263.30 million for the quarter, compared to the consensus estimate of $262.82 million. During the same period in the previous year, the company earned $0.04 EPS. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current fiscal year.

A number of brokerages recently commented on FWRG. Sanford C. Bernstein set a $21.00 price objective on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Stephens reissued an "overweight" rating and set a $24.00 target price on shares of First Watch Restaurant Group in a research note on Thursday, March 20th. Benchmark reaffirmed a "buy" rating on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. Bank of America lifted their price objective on First Watch Restaurant Group from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, March 12th. Finally, Barclays restated an "overweight" rating and issued a $21.00 target price (down previously from $24.00) on shares of First Watch Restaurant Group in a research note on Tuesday, March 11th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $22.27.

Read Our Latest Analysis on FWRG

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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.

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