Valley Wealth Managers Inc. boosted its stake in Darden Restaurants, Inc. (NYSE:DRI – Free Report) by 4.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,812 shares of the restaurant operator’s stock after buying an additional 4,658 shares during the quarter. Valley Wealth Managers Inc. owned approximately 0.09% of Darden Restaurants worth $18,735,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of DRI. Teacher Retirement System of Texas grew its holdings in shares of Darden Restaurants by 98.5% in the 3rd quarter. Teacher Retirement System of Texas now owns 64,118 shares of the restaurant operator’s stock worth $12,206,000 after purchasing an additional 31,815 shares during the last quarter. AE Wealth Management LLC lifted its holdings in Darden Restaurants by 164.1% during the 3rd quarter. AE Wealth Management LLC now owns 4,872 shares of the restaurant operator’s stock valued at $928,000 after purchasing an additional 3,027 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Darden Restaurants by 33.0% in the fourth quarter. Sanctuary Advisors LLC now owns 23,473 shares of the restaurant operator’s stock valued at $4,319,000 after buying an additional 5,830 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Darden Restaurants during the third quarter worth about $2,536,000. Finally, Banco Santander S.A. bought a new stake in Darden Restaurants during the third quarter worth about $6,743,000. 93.64% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
DRI has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Darden Restaurants from $222.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, March 20th. UBS Group restated a “buy” rating and set a $230.00 price target on shares of Darden Restaurants in a research report on Tuesday, March 10th. BTIG Research reiterated a “buy” rating and issued a $225.00 price objective on shares of Darden Restaurants in a research report on Friday, March 20th. Wells Fargo & Company boosted their price objective on Darden Restaurants from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 20th. Finally, Stephens boosted their price objective on Darden Restaurants from $205.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 20th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $226.24.
Darden Restaurants Trading Down 0.1%
Shares of NYSE DRI opened at $195.96 on Tuesday. Darden Restaurants, Inc. has a 1-year low of $169.00 and a 1-year high of $228.27. The company has a 50-day moving average of $199.43 and a two-hundred day moving average of $194.88. The company has a market cap of $22.44 billion, a PE ratio of 20.74, a P/E/G ratio of 1.86 and a beta of 0.61. The company has a current ratio of 0.39, a quick ratio of 0.25 and a debt-to-equity ratio of 1.02.
Darden Restaurants (NYSE:DRI – Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The restaurant operator reported $2.95 EPS for the quarter, beating the consensus estimate of $2.94 by $0.01. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Darden Restaurants had a net margin of 8.66% and a return on equity of 53.54%. Darden Restaurants’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.80 earnings per share. As a group, equities analysts expect that Darden Restaurants, Inc. will post 10.61 earnings per share for the current fiscal year.
Darden Restaurants Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 10th were given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, April 10th. Darden Restaurants’s dividend payout ratio (DPR) is presently 63.49%.
Insider Buying and Selling at Darden Restaurants
In other news, SVP Douglas J. Milanes sold 3,620 shares of Darden Restaurants stock in a transaction on Friday, April 17th. The stock was sold at an average price of $202.16, for a total value of $731,819.20. Following the completion of the sale, the senior vice president directly owned 274 shares of the company’s stock, valued at approximately $55,391.84. This trade represents a 92.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Lindsay L. Koren sold 300 shares of the business’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $194.32, for a total value of $58,296.00. Following the sale, the senior vice president owned 1,617 shares of the company’s stock, valued at approximately $314,215.44. The trade was a 15.65% decrease in their position. The SEC filing for this sale provides additional information. 0.49% of the stock is currently owned by company insiders.
Darden Restaurants Profile
Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.
Darden’s restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand’s positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.
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