New Age Alpha Advisors LLC lifted its position in Darden Restaurants, Inc. (NYSE:DRI – Free Report) by 22.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 22,020 shares of the restaurant operator’s stock after buying an additional 4,069 shares during the period. New Age Alpha Advisors LLC’s holdings in Darden Restaurants were worth $4,052,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Darden Restaurants in the fourth quarter worth approximately $1,657,000. Jefferies Financial Group Inc. lifted its stake in shares of Darden Restaurants by 37.4% in the fourth quarter. Jefferies Financial Group Inc. now owns 15,591 shares of the restaurant operator’s stock worth $2,869,000 after buying an additional 4,247 shares in the last quarter. MQS Management LLC bought a new position in shares of Darden Restaurants in the fourth quarter worth approximately $358,000. Associated Banc Corp lifted its stake in shares of Darden Restaurants by 25.7% in the fourth quarter. Associated Banc Corp now owns 2,418 shares of the restaurant operator’s stock worth $445,000 after buying an additional 495 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Darden Restaurants by 17.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,064 shares of the restaurant operator’s stock worth $196,000 after buying an additional 157 shares in the last quarter. Institutional investors own 93.64% of the company’s stock.
Darden Restaurants Stock Down 0.0%
Shares of Darden Restaurants stock opened at $203.48 on Tuesday. The company has a quick ratio of 0.25, a current ratio of 0.39 and a debt-to-equity ratio of 1.02. Darden Restaurants, Inc. has a twelve month low of $169.00 and a twelve month high of $228.27. The company has a market cap of $23.31 billion, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 1.93 and a beta of 0.61. The company’s 50 day moving average is $197.77 and its 200 day moving average is $195.93.
Darden Restaurants Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 10th were given a $1.50 dividend. The ex-dividend date was Friday, April 10th. This represents a $6.00 annualized dividend and a yield of 2.9%. Darden Restaurants’s dividend payout ratio (DPR) is presently 63.49%.
Insider Activity at Darden Restaurants
In other Darden Restaurants news, SVP Douglas J. Milanes sold 3,620 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of $202.16, for a total value of $731,819.20. Following the transaction, the senior vice president directly owned 274 shares in the company, valued at approximately $55,391.84. This trade represents a 92.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Lindsay L. Koren sold 300 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $194.32, for a total transaction of $58,296.00. Following the completion of the transaction, the senior vice president owned 1,617 shares in the company, valued at $314,215.44. The trade was a 15.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.49% of the stock is currently owned by company insiders.
Analyst Ratings Changes
DRI has been the topic of a number of research analyst reports. Sanford C. Bernstein restated an “outperform” rating on shares of Darden Restaurants in a research report on Friday, March 13th. Citigroup increased their price objective on shares of Darden Restaurants from $235.00 to $238.00 and gave the company a “buy” rating in a research report on Friday, March 20th. BTIG Research restated a “buy” rating and set a $225.00 price objective on shares of Darden Restaurants in a research report on Friday, March 20th. Robert W. Baird increased their price objective on shares of Darden Restaurants from $208.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday, March 20th. Finally, Weiss Ratings downgraded shares of Darden Restaurants from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 8th. Eighteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $226.24.
Get Our Latest Research Report on Darden Restaurants
Darden Restaurants Company 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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