Modera Wealth Management LLC Sells 651 Shares of Darden Restaurants, Inc. $DRI

Modera Wealth Management LLC decreased its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 40.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 976 shares of the restaurant operator’s stock after selling 651 shares during the period. Modera Wealth Management LLC’s holdings in Darden Restaurants were worth $213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Nuveen LLC acquired a new stake in Darden Restaurants during the 1st quarter valued at $84,801,000. 1832 Asset Management L.P. acquired a new position in Darden Restaurants in the first quarter worth $53,760,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Darden Restaurants by 6.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,998,200 shares of the restaurant operator’s stock worth $830,666,000 after purchasing an additional 247,542 shares during the last quarter. Woodline Partners LP increased its stake in shares of Darden Restaurants by 3,824.2% in the first quarter. Woodline Partners LP now owns 177,217 shares of the restaurant operator’s stock valued at $36,819,000 after buying an additional 172,701 shares in the last quarter. Finally, Raymond James Financial Inc. increased its stake in shares of Darden Restaurants by 4.6% in the first quarter. Raymond James Financial Inc. now owns 3,601,340 shares of the restaurant operator’s stock valued at $748,215,000 after buying an additional 157,305 shares in the last quarter. 93.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on DRI shares. Mizuho assumed coverage on shares of Darden Restaurants in a research report on Tuesday, October 28th. They set a “neutral” rating and a $190.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Darden Restaurants in a research note on Thursday, October 30th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Darden Restaurants from $239.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, September 19th. Robert W. Baird lowered their price target on shares of Darden Restaurants from $230.00 to $208.00 and set a “neutral” rating for the company in a report on Friday, September 19th. Finally, Evercore ISI dropped their price objective on shares of Darden Restaurants from $245.00 to $240.00 and set an “outperform” rating for the company in a research report on Friday, September 19th. Twenty research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $225.82.

Insider Transactions at Darden Restaurants

In related news, SVP Matthew R. Broad sold 5,661 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $193.40, for a total transaction of $1,094,837.40. Following the completion of the transaction, the senior vice president owned 13,916 shares in the company, valued at approximately $2,691,354.40. The trade was a 28.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.49% of the company’s stock.

Darden Restaurants Stock Up 0.3%

Shares of Darden Restaurants stock opened at $178.02 on Monday. The business has a fifty day simple moving average of $192.38 and a 200 day simple moving average of $203.55. The stock has a market cap of $20.71 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 1.67 and a beta of 0.74. The company has a quick ratio of 0.27, a current ratio of 0.40 and a debt-to-equity ratio of 0.96. Darden Restaurants, Inc. has a 12 month low of $159.40 and a 12 month high of $228.27.

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

Darden Restaurants Dividend Announcement

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