White Pine Capital LLC Makes New Investment in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

White Pine Capital LLC purchased a new position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 17,783 shares of the company’s stock, valued at approximately $331,000.

Other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its stake in First Watch Restaurant Group by 9.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 576,890 shares of the company’s stock worth $10,736,000 after acquiring an additional 49,826 shares in the last quarter. SRH Advisors LLC boosted its position in shares of First Watch Restaurant Group by 84.3% during the 4th quarter. SRH Advisors LLC now owns 12,185 shares of the company’s stock worth $227,000 after purchasing an additional 5,575 shares in the last quarter. Stephens Investment Management Group LLC grew its stake in shares of 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 period. WCM Investment Management LLC increased its position in First Watch Restaurant Group by 44.2% in the 4th quarter. WCM Investment Management LLC now owns 947,240 shares of the company’s stock valued at $17,552,000 after buying an additional 290,173 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in First Watch Restaurant Group by 98.9% in the 4th quarter. SG Americas Securities LLC now owns 15,177 shares of the company’s stock valued at $282,000 after buying an additional 7,547 shares in the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Raymond James raised their price objective on First Watch Restaurant Group from $22.00 to $25.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Piper Sandler boosted their price target 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 raised their price objective on shares of First Watch Restaurant Group from $18.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Stephens reissued an “overweight” rating and set a $25.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday, January 28th. Finally, Barclays upped their target price on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Two equities research 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.30.

First Watch Restaurant Group Trading Up 5.1 %

Shares of FWRG stock opened at $20.50 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.24 billion, a P/E ratio of 62.12, a PEG ratio of 3.50 and a beta of 0.91. The company has a 50 day moving average of $19.55 and a 200-day moving average of $17.62. First Watch Restaurant Group, Inc. has a 12-month low of $12.90 and a 12-month high of $25.98.

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.