SRH Advisors LLC Acquires 5,575 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

SRH Advisors LLC increased its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 84.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 12,185 shares of the company’s stock after buying an additional 5,575 shares during the period. SRH Advisors LLC’s holdings in First Watch Restaurant Group were worth $227,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC boosted its position in First Watch Restaurant Group by 37.7% in the 4th quarter. Stephens Investment Management Group LLC now owns 693,359 shares of the company’s stock valued at $12,903,000 after buying an additional 189,681 shares during the last quarter. WCM Investment Management LLC lifted its stake in shares of First Watch Restaurant Group by 44.2% during the fourth quarter. WCM Investment Management LLC now owns 947,240 shares of the company’s stock valued at $17,552,000 after acquiring an additional 290,173 shares during the period. SG Americas Securities LLC boosted its holdings in First Watch Restaurant Group by 98.9% in the fourth quarter. SG Americas Securities LLC now owns 15,177 shares of the company’s stock valued at $282,000 after acquiring an additional 7,547 shares during the last quarter. Diversified Trust Co increased its position in First Watch Restaurant Group by 84.5% in the fourth quarter. Diversified Trust Co now owns 29,051 shares of the company’s stock worth $541,000 after purchasing an additional 13,301 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in First Watch Restaurant Group by 22.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company’s stock worth $30,988,000 after purchasing an additional 366,227 shares during the last quarter. Institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Stock Performance

Shares of First Watch Restaurant Group stock opened at $20.48 on Wednesday. The stock’s fifty day simple moving average is $19.53 and its 200 day simple moving average is $17.59. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.24 billion, a PE ratio of 62.06, a PEG ratio of 3.50 and a beta of 0.91. First Watch Restaurant Group, Inc. has a 12 month low of $12.90 and a 12 month high of $25.98.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FWRG shares. Barclays raised their target price on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Piper Sandler raised their price objective on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. TD Cowen upped their target price on shares of First Watch Restaurant Group from $18.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Stephens restated an “overweight” rating and issued a $25.00 price target on shares of First Watch Restaurant Group in a research report on Tuesday, January 28th. Finally, Raymond James upped their price objective on First Watch Restaurant Group from $22.00 to $25.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, First Watch Restaurant Group currently has a consensus rating of “Moderate Buy” and an average price target of $23.30.

First Watch Restaurant Group Profile

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.