First Watch will open a new breakfast restaurant in downtown Boston in late 2025, expanding its New England presence.
Quiver AI Summary
First Watch Restaurant Group, Inc. announced plans to open its first downtown Boston location in late 2025, furthering its expansion in New England after entering Massachusetts earlier that year with a location in Hanover. The new restaurant will be situated at 777 Boylston St. in Back Bay, bringing its fresh, chef-driven breakfast, brunch, and lunch menu to the city. CEO Chris Tomasso emphasized the significance of this location in their growth strategy. The menu features high-quality ingredients and a variety of modern takes on brunch classics, alongside a robust lunch offering. The Boston location will also incorporate local design elements and create approximately 30 new jobs. Prior to opening, funds will be raised for the Dana-Farber Cancer Institute, continuing a charity partnership from the Hanover location. First Watch is recognized for its employee-friendly policies and operates over 570 restaurants across the United States.
Potential Positives
- First Watch will open its first location in downtown Boston, marking a significant expansion into the New England market.
- The new restaurant will create approximately 30 new jobs for the local community, contributing to local economic growth.
- First Watch was recently recognized as the "#1 Most Loved Workplace in America," highlighting its commitment to employee wellbeing and workplace culture.
- The company continues its partnership with Dana-Farber Cancer Institute through a fundraising initiative, showcasing its commitment to social responsibility and community engagement.
Potential Negatives
- Opening a new location in a highly competitive market like downtown Boston may pose significant risks, including potential challenges in attracting a consistent customer base in an area where consumer preferences are diverse.
- The announcement primarily focuses on the opening of a new location rather than addressing ongoing company-wide challenges or competition, which could lead to concerns about the overall growth strategy and market position.
- The hiring of only 30 new jobs for the Boston location may raise questions about the company's ability to scale effectively and meet demand as it continues to expand.
FAQ
When will First Watch open its Boston location?
First Watch will open its first downtown Boston location in late 2025.
Where in Boston will the new First Watch be located?
The new restaurant will be located at 777 Boylston St. in the Back Bay neighborhood.
What menu items does First Watch offer?
First Watch offers breakfast, brunch, and lunch items including omelets, benedicts, and healthy salads.
How does First Watch ensure food quality?
All dishes are made to order using fresh ingredients without heat lamps, microwaves, or fryers.
What job opportunities will the Boston location create?
The Boston location will create approximately 30 new jobs for the local community.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$FWRG Insider Trading Activity
$FWRG insiders have traded $FWRG stock on the open market 10 times in the past 6 months. Of those trades, 0 have been purchases and 10 have been sales.
Here’s a breakdown of recent trading of $FWRG stock by insiders over the last 6 months:
- INTERNATIONAL, L.P. ADVENT sold 8,000,000 shares for an estimated $158,080,000
- INTERNATIONAL GPE VIII-I LIMITED PARTNERSHIP ADVENT sold 8,000,000 shares for an estimated $158,080,000
- PARTNERS GPE VIII LIMITED PARTNERSHIP ADVENT sold 8,000,000 shares for an estimated $158,080,000
- CHRISTOPHER ANTHONY TOMASSO (President and CEO) sold 42,039 shares for an estimated $706,675
- H MELVILLE III HOPE (CFO and Treasurer) sold 8,013 shares for an estimated $134,698
- JAY ANTHONY WOLSZCZAK (Chief Legal Officer, GC & Secy) sold 5,743 shares for an estimated $96,539
- MATTHEW EISENACHER (Chief Brand Officer) sold 4,257 shares for an estimated $71,560
- ERIC RICHARD HARTMAN (Chief Development Officer) sold 3,916 shares for an estimated $65,827
- LAURA ANNE SORENSEN (Chief People Officer) sold 3,675 shares for an estimated $61,776
- JOHN DANIEL JONES (Chief Operations Officer) sold 3,554 shares for an estimated $59,742
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$FWRG Hedge Fund Activity
We have seen 104 institutional investors add shares of $FWRG stock to their portfolio, and 50 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- ADVENT INTERNATIONAL, L.P. removed 8,000,000 shares (-29.4%) from their portfolio in Q4 2024, for an estimated $148,880,000
- LAZARD ASSET MANAGEMENT LLC added 2,100,757 shares (+inf%) to their portfolio in Q4 2024, for an estimated $39,095,087
- CHAMPLAIN INVESTMENT PARTNERS, LLC added 958,417 shares (+59.0%) to their portfolio in Q4 2024, for an estimated $17,836,140
- UBS GROUP AG added 868,574 shares (+5238.1%) to their portfolio in Q4 2024, for an estimated $16,164,162
- MESIROW INSTITUTIONAL INVESTMENT MANAGEMENT, INC. added 833,188 shares (+inf%) to their portfolio in Q4 2024, for an estimated $15,505,628
- CLEARBRIDGE INVESTMENTS, LLC added 684,155 shares (+inf%) to their portfolio in Q4 2024, for an estimated $12,732,124
- GW&K INVESTMENT MANAGEMENT, LLC added 615,511 shares (+51.5%) to their portfolio in Q4 2024, for an estimated $11,454,659
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
$FWRG Analyst Ratings
Wall Street analysts have issued reports on $FWRG in the last several months. We have seen 3 firms issue buy ratings on the stock, and 0 firms issue sell ratings.
Here are some recent analyst ratings:
- Barclays issued a "Overweight" rating on 04/22/2025
- Benchmark issued a "Buy" rating on 03/12/2025
- Piper Sandler issued a "Overweight" rating on 11/11/2024
To track analyst ratings and price targets for $FWRG, check out Quiver Quantitative's $FWRG forecast page.
$FWRG Price Targets
Multiple analysts have issued price targets for $FWRG recently. We have seen 3 analysts offer price targets for $FWRG in the last 6 months, with a median target of $23.0.
Here are some recent targets:
- An analyst from Barclays set a target price of $24.0 on 04/22/2025
- Jeffrey Bernstein from Bernstein set a target price of $21.0 on 03/11/2025
- Brian Mullan from Piper Sandler set a target price of $23.0 on 11/11/2024
Full Release
BOSTON, April 23, 2025 (GLOBE NEWSWIRE) -- First Watch Restaurant Group, Inc. (NASDAQ: FWRG) (“First Watch” or the “Company”), the leading daytime restaurant serving breakfast, brunch and lunch, announced it will open its first downtown Boston location in late 2025, marking First Watch’s continued expansion in New England. The popular breakfast spot celebrated its entry into Massachusetts earlier this year with the opening of its first greater Boston-area location in Hanover in January. The new restaurant will be located at 777 Boylston St. in the iconic Back Bay neighborhood, bringing First Watch’s fresh, chef-driven menu to the heart of the city.
“This high-profile location in the heart of Boston is a major milestone as we continue our growth in New England and beyond,” said Chris Tomasso, First Watch CEO & President. “We’re grateful for the warm welcome we received for our first Massachusetts location earlier this year and look forward to bringing First Watch’s innovative menu and signature hospitality to the Back Bay.”
First Watch is widely beloved for its modern take on breakfast and brunch classics showcasing high quality ingredients like cage-free eggs, organic mixed greens, all-natural chicken and fresh – never frozen – breakfast potatoes. All dishes are made to order using fresh ingredients in a kitchen without heat lamps, microwaves or deep fryers, and its seasonal menu rotates five times per year. The diverse menu offers classics, such as The Traditional breakfast , benedicts, omelets and Avocado Toast , as well as curated hashes and bowls, including fan favorites like Farmhouse Hash and Pesto Chicken Quinoa Bowl , plus Instagrammable shareables, like Million Dollar Bacon . The restaurant also offers a robust lunch menu of sandwiches and salads, including Superfood Kale Salad , the Ham and Gruyere Melt and its popular “Two for You” lunch combination.
The Boylston team will start each morning by juicing fresh fruits and vegetables like kale, apple and cucumber for an array of juices, including Morning Meditation and Kale Tonic . The restaurant also takes immense pride in its socially responsible Project Sunrise coffee, sourced from women-owned coffee farms based in South America.
The Boylston flagship location design will represent the community it serves and complement the surrounding historic district, including a one-of-a-kind, Boston-inspired mural specially designed and painted by a local artist. The restaurant will also feature a welcoming outdoor dining patio. The weekend prior to opening, the restaurant will raise money to support Dana-Farber Cancer Institute and the Jimmy Fund’s mission to defy cancer – a continuation of the partnership started at Hanover earlier this year.
The Boston opening will create approximately 30 new jobs for the local community. Recently recognized as the “#1 Most Loved Workplace in America” by Newsweek and the Best Practice Institute, First Watch prides itself on its “No Night Shifts Ever” policy, which prioritizes employee wellbeing, allowing all staff to enjoy their evenings off. Open positions will be posted to First Watch’s Careers site this Fall.
First Watch is open seven days a week, 7 a.m. to 2:30 p.m. For more information, visit FirstWatch.com , and connect on Instagram and Facebook with @FirstWatch.
About First Watch
First Watch is the leading Daytime Dining concept serving made-to-order breakfast, brunch and lunch using fresh ingredients. A recipient of hundreds of local “Best Breakfast” and “Best Brunch” accolades, First Watch's chef-driven menu rotates five times a year and includes elevated executions of classic favorites alongside specialties such as its Quinoa Power Bowl, Lemon Ricotta Pancakes, Chickichanga, Morning Meditation fresh juice and signature Million Dollar Bacon. After first appearing on the list in 2022 and 2023, First Watch was named 2024’s #1 Most Loved Workplace® in America by Newsweek and the Best Practice Institute. In 2023, First Watch was named the top restaurant brand in Yelp’s inaugural list of the top 50 most-loved brands in the U.S. In 2022, First Watch was awarded a sought-after MenuMasters honor by Nation's Restaurant News for its seasonal Braised Short Rib Omelet. First Watch operates more than 570 First Watch restaurants in 30 states. For more information, visit
www.firstwatch.com
.
Media Contact:
[email protected]
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e0e00b0e-1508-4ca7-8e24-e851aa414d8e
