Bessemer Group Inc. Has $741,000 Stock Holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Bessemer Group Inc. grew its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 52.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 39,792 shares of the company’s stock after purchasing an additional 13,705 shares during the period. Bessemer Group Inc.’s holdings in First Watch Restaurant Group were worth $741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in FWRG. State Street Corp increased its position in First Watch Restaurant Group by 13.6% in the 3rd quarter. State Street Corp now owns 664,310 shares of the company’s stock valued at $10,363,000 after buying an additional 79,744 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of First Watch Restaurant Group by 1.1% during the third quarter. Jane Street Group LLC now owns 49,358 shares of the company’s stock valued at $770,000 after acquiring an additional 551 shares in the last quarter. XTX Topco Ltd acquired a new position in shares of First Watch Restaurant Group during the third quarter worth approximately $157,000. Barclays PLC raised its position in shares of First Watch Restaurant Group by 505.3% during the third quarter. Barclays PLC now owns 172,515 shares of the company’s stock worth $2,690,000 after purchasing an additional 144,014 shares during the period. Finally, M&T Bank Corp bought a new position in shares of First Watch Restaurant Group in the 3rd quarter worth $514,000. Institutional investors own 96.11% of the company’s stock.

Insiders Place Their Bets

In other First Watch Restaurant Group news, insider Jay Anthony Wolszczak sold 5,743 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total value of $96,539.83. Following the completion of the sale, the insider now directly owns 37,768 shares of the company’s stock, valued at $634,880.08. This trade represents a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 value of $706,675.59. Following the transaction, the chief executive officer now directly owns 389,832 shares in the company, valued at $6,553,075.92. This represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. TD Cowen upgraded shares of First Watch Restaurant Group from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Tuesday, April 1st. TD Securities upgraded shares of First Watch Restaurant Group from a “hold” rating to a “buy” rating and upped their target price for the stock from $21.00 to $22.00 in a report on Tuesday, April 1st. Barclays reiterated an “overweight” rating and set a $21.00 price target (down previously from $24.00) on shares of First Watch Restaurant Group in a research note on Tuesday, March 11th. Sanford C. Bernstein set a $21.00 price objective on First Watch Restaurant Group in a research note on Tuesday, March 11th. Finally, Benchmark reaffirmed a “buy” rating on shares of First Watch Restaurant Group in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, First Watch Restaurant Group presently has a consensus rating of “Buy” and an average price target of $22.45.

First Watch Restaurant Group Stock Performance

Shares of FWRG opened at $17.74 on Tuesday. The stock has a 50 day moving average of $18.52 and a 200 day moving average of $18.32. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. First Watch Restaurant Group, Inc. has a 12 month low of $12.90 and a 12 month high of $25.98. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 53.76, a PEG ratio of 3.38 and a beta of 1.02.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.01). The business had revenue of $263.30 million for the quarter, compared to analysts’ expectations of $262.82 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.04 earnings per share. As a group, sell-side analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

About First Watch Restaurant Group

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.