First Watch Restaurant GroupFWRG
FWRG
About: First Watch Restaurant Group Inc is a daytime restaurant concept serving made-to-order breakfast, brunch, and lunch using fresh ingredients. It generates revenues from Restaurant sales and Franchise revenues.
Employees: 14,000
0
Funds holding %
of 6,823 funds
0
Analysts bullish %
of 5 analysts
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
107% more repeat investments, than reductions
Existing positions increased: 60 | Existing positions reduced: 29
100% more funds holding in top 10
Funds holding in top 10: 1 [Q2] → 2 (+1) [Q3]
0.28% more ownership
Funds ownership: 111.35% [Q2] → 111.63% (+0.28%) [Q3]
3% less first-time investments, than exits
New positions opened: 30 | Existing positions closed: 31
3% less funds holding
Funds holding: 136 [Q2] → 132 (-4) [Q3]
11% less capital invested
Capital invested by funds: $1.18B [Q2] → $1.05B (-$130M) [Q3]
16% less call options, than puts
Call options by funds: $460K | Put options by funds: $546K
Research analyst outlook
5 Wall Street Analysts provided 1 year price targets over the past 3 months
Low target
$21
18%
upside
Avg. target
$24
33%
upside
High target
$25
41%
upside
5 analyst ratings
4 positive
80%
1 neutral
20%
0 negative
0%
Stephens & Co. Jim Salera 35% 1-year accuracy 15 / 43 met price target | 41%upside $25 | Overweight Reiterated | 13 Nov 2024 |
Barclays Jeffrey Bernstein 45% 1-year accuracy 45 / 100 met price target | 35%upside $24 | Overweight Maintained | 11 Nov 2024 |
Piper Sandler Nicole Miller Regan 50% 1-year accuracy 1 / 2 met price target | 29%upside $23 | Overweight Maintained | 11 Nov 2024 |
TD Cowen Andrew Charles 44% 1-year accuracy 53 / 120 met price target | 18%upside $21 | Hold Maintained | 8 Nov 2024 |
Raymond James Brian Vaccaro 53% 1-year accuracy 8 / 15 met price target | 41%upside $25 | Strong Buy Maintained | 8 Nov 2024 |
Financial journalist opinion
Negative
Zacks Investment Research
6 days ago
First Watch Posts Q4 Preliminary Results, Same Restaurant Sales Down
FWRG reports fourth-quarter and fiscal 2024 preliminary results, wherein same-restaurant sales indicate a 0.3% decline year over year.
Neutral
CNBC Television
3 weeks ago
Jefferies' Andy Barish gives his top restaurant picks for 2025
Andy Barish, Jefferies managing director of equity research, joins 'The Exchange' to discuss his restaurant outlook in 2025.
Positive
Seeking Alpha
2 months ago
First Watch Restaurant: Between Hurricanes And Acquisitions, The Sun Shines
First Watch Restaurant Group maintains its stance against value promotions, focusing on targeted advertising, resulting in a 1.9% year-over-year decline in comparable sales due to lower traffic. The company is aggressively expanding by acquiring franchises and opening new restaurants, aiming for 10% net year-over-year growth and a long-term goal of 2,200 locations. Hurricanes in key operating areas significantly impacted Q4 traffic, but recovery is expected as headwinds subside, with a focus on improving on-premise sales.
Positive
Zacks Investment Research
2 months ago
FWRG Stock Gains on a Deal to Acquire 16 Franchise Restaurants
First Watch Restaurant is set to expand its East Coast presence with the acquisition of 16 franchise locations.
Neutral
GlobeNewsWire
2 months ago
First Watch Restaurant Group, Inc. Announces Pricing of Secondary Offering of Common Stock
BRADENTON, Fla., Nov. 12, 2024 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (“FWRG” or the “Company”) (NASDAQ: FWRG), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced the pricing of its previously announced underwritten secondary offering (the “Offering”) by certain funds managed by Advent International, L.P. (the “Selling Stockholders”) of 8,000,000 shares of the Company's common stock (“Common Stock”). The shares have been offered at a price to the public of $19.95 per share. The Offering is expected to close on November 13, 2024, subject to customary closing conditions.
Neutral
GlobeNewsWire
2 months ago
First Watch Restaurant Group, Inc. Announces Secondary Offering of Common Stock
BRADENTON, Fla., Nov. 12, 2024 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (“FWRG” or the “Company”) (NASDAQ: FWRG), the leading Daytime Dining concept serving breakfast, brunch and lunch, today announced the launch of an underwritten secondary offering (the “Offering”) by certain funds managed by Advent International, L.P. (the “Selling Stockholders”) of 8,000,000 shares of the Company's common stock (“Common Stock”).
Neutral
GlobeNewsWire
2 months ago
First Watch Inspires Acts of Kindness with ‘Sweet' Gesture on World Kindness Day
Restaurant giving away 15,000 Cinnamon Rolls for customers to pay forward on November 13 Restaurant giving away 15,000 Cinnamon Rolls for customers to pay forward on November 13
Neutral
Seeking Alpha
2 months ago
First Watch Restaurant Group, Inc. (FWRG) Q3 2024 Earnings Conference Call Transcript
First Watch Restaurant Group, Inc. (NASDAQ:FWRG ) Q3 2024 Earnings Conference Call November 7, 2024 8:00 AM ET Company Participants Steven Marotta - VP, IR Chris Tomasso - President and CEO Mel Hope - CFO Conference Call Participants Jim Salera - Stephens Jeffrey Bernstein - Barclays Todd Brooks - The Benchmark Company Andy Barish - Jefferies Brian Vaccaro - Raymond James Katherine Griffin - Bank of America Jon Tower - Citi Gregory Francfort - Guggenheim Securities Operator Greetings, and welcome to the First Watch Restaurant Group Third Quarter 2024 Earnings Conference Call. At this time all participants are in a listen-only mode.
Positive
Zacks Investment Research
2 months ago
Compared to Estimates, First Watch Restaurant Group (FWRG) Q3 Earnings: A Look at Key Metrics
Although the revenue and EPS for First Watch Restaurant Group (FWRG) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Negative
Zacks Investment Research
2 months ago
First Watch Restaurant Group, Inc. (FWRG) Lags Q3 Earnings and Revenue Estimates
First Watch Restaurant Group, Inc. (FWRG) came out with quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $0.09 per share a year ago.
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