Venturi Wealth Management LLC Buys Shares of 4,375 First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Venturi Wealth Management LLC bought a new stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,375 shares of the company’s stock, valued at approximately $81,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in First Watch Restaurant Group by 505.3% in the third quarter. Barclays PLC now owns 172,515 shares of the company’s stock valued at $2,690,000 after buying an additional 144,014 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in First Watch Restaurant Group by 9.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 576,890 shares of the company’s stock valued at $10,736,000 after buying an additional 49,826 shares during the period. Mutual of America Capital Management LLC acquired a new position in First Watch Restaurant Group in the third quarter valued at about $5,757,000. Geode Capital Management LLC lifted its stake in First Watch Restaurant Group by 13.5% in the third quarter. Geode Capital Management LLC now owns 769,608 shares of the company’s stock valued at $12,008,000 after buying an additional 91,416 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in First Watch Restaurant Group by 22.6% in the third quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company’s stock valued at $30,988,000 after buying an additional 366,227 shares during the period. Institutional investors and hedge funds own 96.11% of the company’s stock.

First Watch Restaurant Group Stock Up 2.0 %

NASDAQ:FWRG opened at $20.67 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 $1.25 billion, a PE ratio of 62.64, a PEG ratio of 3.38 and a beta of 0.91. First Watch Restaurant Group, Inc. has a 52-week low of $12.90 and a 52-week high of $25.98. The stock has a 50-day simple moving average of $19.76 and a 200 day simple moving average of $17.91.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FWRG. TD Cowen raised their price target on First Watch Restaurant Group from $18.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Piper Sandler raised their price target on First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Barclays raised their price target on First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Stephens reaffirmed an “overweight” rating and set a $25.00 price target on shares of First Watch Restaurant Group in a research report on Tuesday, January 28th. Finally, Raymond James raised their price target on First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, First Watch Restaurant Group presently has an average rating of “Moderate Buy” and a consensus 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.