TMB Capital Partners LLC purchased a new stake in Darden Restaurants, Inc. (NYSE:DRI – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 9,034 shares of the restaurant operator’s stock, valued at approximately $1,662,000.
A number of other large investors also recently bought and sold shares of the business. 1620 Investment Advisors Inc. lifted its position in shares of Darden Restaurants by 2.4% during the 4th quarter. 1620 Investment Advisors Inc. now owns 2,190 shares of the restaurant operator’s stock valued at $403,000 after buying an additional 51 shares in the last quarter. Cary Street Partners Investment Advisory LLC lifted its stake in Darden Restaurants by 4.7% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 1,144 shares of the restaurant operator’s stock valued at $211,000 after buying an additional 51 shares in the last quarter. New York Life Investment Management LLC boosted its holdings in Darden Restaurants by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 15,983 shares of the restaurant operator’s stock worth $2,941,000 after buying an additional 55 shares during the last quarter. Stonebrook Private Inc. boosted its holdings in Darden Restaurants by 0.4% in the 3rd quarter. Stonebrook Private Inc. now owns 13,425 shares of the restaurant operator’s stock worth $2,556,000 after buying an additional 60 shares during the last quarter. Finally, Glenview Trust co increased its stake in Darden Restaurants by 4.9% during the 2nd quarter. Glenview Trust co now owns 1,308 shares of the restaurant operator’s stock worth $285,000 after buying an additional 61 shares in the last quarter. Institutional investors and hedge funds own 93.64% of the company’s stock.
Insider Activity at Darden Restaurants
In related news, SVP Douglas J. Milanes sold 3,620 shares of Darden Restaurants 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 completion of the sale, the senior vice president owned 274 shares in the company, valued at approximately $55,391.84. This trade represents a 92.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Lindsay L. Koren sold 300 shares of the business’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $194.32, for a total value of $58,296.00. Following the completion of the sale, the senior vice president owned 1,617 shares in the company, valued at $314,215.44. This represents a 15.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.49% of the stock is currently owned by company insiders.
Darden Restaurants Stock Performance
Darden Restaurants (NYSE:DRI – Get Free Report) last posted its earnings results on Thursday, March 19th. The restaurant operator reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.94 by $0.01. The company had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Darden Restaurants had a return on equity of 53.54% and a net margin of 8.66%.The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.80 earnings per share. Analysts forecast that Darden Restaurants, Inc. will post 10.62 EPS for the current year.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. Barclays lifted their price target on Darden Restaurants from $227.00 to $232.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. UBS Group restated a “buy” rating and issued a $230.00 price objective on shares of Darden Restaurants in a report on Tuesday, March 10th. Oppenheimer reaffirmed an “outperform” rating and set a $235.00 target price on shares of Darden Restaurants in a research note on Thursday. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Darden Restaurants in a report on Friday, March 13th. Finally, KeyCorp upped their target price on shares of Darden Restaurants from $226.00 to $228.00 and gave the stock an “overweight” rating in a report on Wednesday, May 27th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $226.56.
Check Out Our Latest Report on Darden Restaurants
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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