Atria Wealth Solutions Inc. Buys 21,276 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Atria Wealth Solutions Inc. lifted its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 41.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 72,351 shares of the company’s stock after purchasing an additional 21,276 shares during the period. Atria Wealth Solutions Inc. owned 0.12% of First Watch Restaurant Group worth $1,346,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Venturi Wealth Management LLC bought a new position in First Watch Restaurant Group during the fourth quarter valued at $81,000. White Pine Capital LLC purchased a new position in shares of First Watch Restaurant Group during the 4th quarter valued at $331,000. Allspring Global Investments Holdings LLC grew its stake in shares of First Watch Restaurant Group by 9.5% during the 4th 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 during the period. SRH Advisors LLC raised its stake in First Watch Restaurant Group by 84.3% in the 4th quarter. SRH Advisors LLC now owns 12,185 shares of the company’s stock valued at $227,000 after acquiring an additional 5,575 shares during the period. Finally, Stephens Investment Management Group LLC lifted its holdings in First Watch Restaurant Group by 37.7% during the fourth quarter. Stephens Investment Management Group LLC now owns 693,359 shares of the company’s stock valued at $12,903,000 after purchasing an additional 189,681 shares during the last quarter. Institutional investors own 96.11% of the company’s stock.

Analysts Set New Price Targets

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

First Watch Restaurant Group Price Performance

Shares of First Watch Restaurant Group stock opened at $20.27 on Monday. The firm has a market capitalization of $1.23 billion, a PE ratio of 61.43, a price-to-earnings-growth ratio of 3.38 and a beta of 0.91. 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 business’s 50-day moving average price is $19.74 and its 200-day moving average price is $17.88.

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.