Dimensional Fund Advisors LP Grows Stock Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Dimensional Fund Advisors LP raised its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 15.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,385,972 shares of the company’s stock after acquiring an additional 189,740 shares during the period. Dimensional Fund Advisors LP owned 2.30% of First Watch Restaurant Group worth $24,338,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nicholas Investment Partners LP acquired a new position in shares of First Watch Restaurant Group during the 2nd quarter valued at about $3,391,000. Rice Hall James & Associates LLC acquired a new stake in First Watch Restaurant Group during the 2nd quarter worth $584,000. Victory Capital Management Inc. raised its position in First Watch Restaurant Group by 163.9% in the 2nd quarter. Victory Capital Management Inc. now owns 59,361 shares of the company’s stock valued at $1,042,000 after buying an additional 36,870 shares during the last quarter. Rhumbline Advisers increased its position in shares of First Watch Restaurant Group by 25.0% during the 2nd quarter. Rhumbline Advisers now owns 38,106 shares of the company’s stock worth $669,000 after purchasing an additional 7,631 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its position in shares of First Watch Restaurant Group by 10.9% in the second quarter. iA Global Asset Management Inc. now owns 19,898 shares of the company’s stock valued at $349,000 after purchasing an additional 1,948 shares during the last quarter. 96.11% of the stock is currently owned by institutional investors.

First Watch Restaurant Group Trading Down 1.4 %

NASDAQ FWRG opened at $14.40 on Friday. The stock has a market cap of $869.37 million, a PE ratio of 37.89, a PEG ratio of 2.42 and a beta of 0.87. The company has a current ratio of 0.57, a quick ratio of 0.52 and a debt-to-equity ratio of 0.33. First Watch Restaurant Group, Inc. has a 12 month low of $13.99 and a 12 month high of $25.98. The company’s 50-day moving average price is $15.90 and its 200-day moving average price is $18.72.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $258.60 million for the quarter, compared to analysts’ expectations of $257.65 million. First Watch Restaurant Group had a net margin of 2.51% and a return on equity of 4.24%. The company’s revenue was up 19.6% compared to the same quarter last year. During the same period last year, the business earned $0.13 EPS. Equities research analysts forecast that First Watch Restaurant Group, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FWRG. TD Cowen restated a “hold” rating and issued a $18.00 target price on shares of First Watch Restaurant Group in a report on Thursday, September 12th. Barclays reduced their target price on shares of First Watch Restaurant Group from $27.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Benchmark started coverage on shares of First Watch Restaurant Group in a research note on Tuesday, August 27th. They issued a “buy” rating and a $23.00 price objective for the company. Bank of America reduced their price objective on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Wednesday, July 17th. Finally, Stifel Nicolaus dropped their price target on First Watch Restaurant Group from $22.00 to $18.00 and set a “hold” rating for the company in a research report on Tuesday, July 2nd. Two equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

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.