Resona Asset Management Co. Ltd. Has $8.80 Million Stock Holdings in Darden Restaurants, Inc. $DRI

Resona Asset Management Co. Ltd. lifted its position in Darden Restaurants, Inc. (NYSE:DRI) by 6.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,402 shares of the restaurant operator’s stock after buying an additional 2,408 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Darden Restaurants were worth $8,795,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of DRI. OneDigital Investment Advisors LLC acquired a new position in Darden Restaurants during the 1st quarter worth $266,000. Greenleaf Trust increased its stake in shares of Darden Restaurants by 1.6% in the first quarter. Greenleaf Trust now owns 3,688 shares of the restaurant operator’s stock worth $766,000 after purchasing an additional 57 shares during the period. Rehmann Capital Advisory Group lifted its position in shares of Darden Restaurants by 10.3% during the 1st quarter. Rehmann Capital Advisory Group now owns 1,667 shares of the restaurant operator’s stock worth $346,000 after purchasing an additional 155 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Darden Restaurants by 41.9% during the 1st quarter. Cerity Partners LLC now owns 16,464 shares of the restaurant operator’s stock worth $3,421,000 after purchasing an additional 4,864 shares during the last quarter. Finally, Xponance Inc. boosted its stake in Darden Restaurants by 2.6% during the 1st quarter. Xponance Inc. now owns 21,886 shares of the restaurant operator’s stock valued at $4,547,000 after purchasing an additional 551 shares during the period. 93.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Darden Restaurants from $240.00 to $230.00 and set an “overweight” rating for the company in a report on Monday, October 6th. TD Cowen reiterated a “hold” rating and set a $235.00 target price on shares of Darden Restaurants in a research note on Thursday, September 18th. The Goldman Sachs Group raised shares of Darden Restaurants from a “neutral” rating to a “buy” rating and set a $225.00 price target for the company in a report on Monday, October 20th. Weiss Ratings restated a “buy (b-)” rating on shares of Darden Restaurants in a report on Thursday, October 30th. Finally, Mizuho initiated coverage on shares of Darden Restaurants in a research report on Tuesday, October 28th. They set a “neutral” rating and a $190.00 price objective for the company. Twenty investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, Darden Restaurants currently has a consensus rating of “Moderate Buy” and an average target price of $225.82.

Insider Activity at Darden Restaurants

In related news, SVP Matthew R. Broad sold 5,661 shares of the business’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $193.40, for a total value of $1,094,837.40. Following the sale, the senior vice president owned 13,916 shares of the company’s stock, valued at $2,691,354.40. The trade was a 28.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.49% of the stock is owned by company insiders.

Darden Restaurants Trading Up 0.3%

Shares of DRI stock opened at $178.02 on Friday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.27 and a current ratio of 0.40. The firm has a fifty day moving average of $192.38 and a 200-day moving average of $203.53. Darden Restaurants, Inc. has a 52-week low of $159.40 and a 52-week high of $228.27. The stock has a market cap of $20.71 billion, a price-to-earnings ratio of 19.08, a P/E/G ratio of 1.67 and a beta of 0.74.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Thursday, September 18th. The restaurant operator reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.04). The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.03 billion. Darden Restaurants had a return on equity of 52.35% and a net margin of 8.90%.The business’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same period last year, the company earned $1.75 EPS. Darden Restaurants has set its FY 2026 guidance at 10.500-10.700 EPS. On average, equities research analysts forecast that Darden Restaurants, Inc. will post 9.52 earnings per share for the current fiscal year.

Darden Restaurants Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, October 10th. Darden Restaurants’s dividend payout ratio (DPR) is 64.31%.

Darden Restaurants Company Profile

Darden Restaurants, Inc, together with its subsidiaries, owns and operates full-service restaurants in the United States and Canada. It operates under Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V’s Prime Seafood, and Capital Burger brand names.