First Watch Restaurant Group
FWRG
Market cap $1.27B

21.00 USD

-0.39

1.82%

At close Feb 7, 4:00 PM EST

After hours

21.00

+0.00

0.00%

1 day

-1.82%

5 days

3.65%

1 month

6.54%

3 months

0.82%

6 months

32.74%

Year to date

11.76%

1 year

-3.00%

5 years

-5.11%

10 years

-5.11%

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

Consumer Discretionary Eating Places

0

Funds holding %

of 6,831 funds

0

Analysts bullish %

of 3 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

See Fund Rankings

Research analyst outlook

3 Wall Street Analysts provided 1 year price targets over the past 3 months

Low target

$23

10%

upside

Avg. target

$24

14%

upside

High target

$25

19%

upside

3 analyst ratings

3 positive

100%

0 neutral

0%

0 negative

0%

Stephens & Co. Jim Salera 52% 1-year accuracy 23 / 44 met price target	19%upside $25	Overweight Reiterated	28 Jan 2025
Barclays Jeffrey Bernstein 48% 1-year accuracy 48 / 100 met price target	14%upside $24	Overweight Maintained	11 Nov 2024
Piper Sandler Nicole Miller Regan 100% 1-year accuracy 2 / 2 met price target	10%upside $23	Overweight Maintained	11 Nov 2024

See Analyst Rankings

Financial journalist opinion

First Watch Restaurant: A Dull Morning In Q4 Overshadowed By Other Family Dining Competitors

First Watch is a unique, fast-growing family dining chain with a focus on breakfast, brunch, and lunch, avoiding discounts and maintaining high unit-level margins. Despite industry recovery, First Watch's same-store sales fell 0.3% in Q4 FY 2024, with traffic declining 3% year-over-year, raising concerns about future growth. The chain's valuation appears stretched, trading at a P/E of 41.67, significantly above the industry median, making it potentially overvalued compared to peers.

First Watch Restaurant: A Dull Morning In Q4 Overshadowed By Other Family Dining Competitors

Zacks Investment Research

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.

First Watch Posts Q4 Preliminary Results, Same Restaurant Sales Down

CNBC Television

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.

Jefferies' Andy Barish gives his top restaurant picks for 2025

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.

First Watch Restaurant: Between Hurricanes And Acquisitions, The Sun Shines

Zacks Investment Research

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.

FWRG Stock Gains on a Deal to Acquire 16 Franchise Restaurants

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.

First Watch Restaurant Group, Inc. Announces Pricing of Secondary Offering of Common Stock

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”).

First Watch Restaurant Group, Inc. Announces Secondary Offering of Common Stock

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

First Watch Inspires Acts of Kindness with ‘Sweet' Gesture on World Kindness Day

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.

First Watch Restaurant Group, Inc. (FWRG) Q3 2024 Earnings Conference Call Transcript

Zacks Investment Research

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.

Compared to Estimates, First Watch Restaurant Group (FWRG) Q3 Earnings: A Look at Key Metrics

See News Rankings

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