Vise Technologies Inc. raised its stake in Darden Restaurants, Inc. (NYSE:DRI – Free Report) by 35.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,360 shares of the restaurant operator’s stock after acquiring an additional 3,248 shares during the quarter. Vise Technologies Inc.’s holdings in Darden Restaurants were worth $2,389,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in DRI. Bell Investment Advisors Inc acquired a new position in shares of Darden Restaurants in the second quarter valued at approximately $28,000. Transamerica Financial Advisors LLC purchased a new position in shares of Darden Restaurants during the second quarter valued at approximately $34,000. Keating Financial Advisory Services Inc. acquired a new stake in Darden Restaurants during the second quarter worth approximately $39,000. Kimelman & Baird LLC acquired a new stake in Darden Restaurants during the second quarter worth approximately $41,000. Finally, Westpac Banking Corp acquired a new stake in Darden Restaurants during the second quarter worth approximately $54,000. 93.64% of the stock is currently owned by hedge funds and other institutional investors.
Darden Restaurants Price Performance
DRI stock opened at $228.26 on Friday. The company has a market cap of $25.83 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 2.16 and a beta of 0.65. The company has a current ratio of 0.30, a quick ratio of 0.20 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average price of $210.90 and a two-hundred day moving average price of $206.16. Darden Restaurants, Inc. has a 12-month low of $169.00 and a 12-month high of $233.98.
Darden Restaurants (NYSE:DRI – Get Free Report) last posted its earnings results on Thursday, September 24th. The restaurant operator reported $2.05 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.05. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.21 billion. Darden Restaurants had a net margin of 8.85% and a return on equity of 58.64%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.97 EPS. Darden Restaurants has set its FY 2027 guidance at 11.100-11.350 EPS. As a group, research analysts predict that Darden Restaurants, Inc. will post 11.24 EPS for the current year.
Darden Restaurants Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Friday, October 9th were paid a $1.62 dividend. The ex-dividend date was Friday, October 9th. This represents a $6.48 annualized dividend and a dividend yield of 2.8%. Darden Restaurants’s dividend payout ratio is 63.34%.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on DRI shares. UBS Group reissued a “buy” rating on shares of Darden Restaurants in a research note on Friday, September 11th. Mizuho lifted their price objective on Darden Restaurants from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, September 25th. Oppenheimer lifted their price objective on Darden Restaurants from $235.00 to $245.00 and gave the company an “outperform” rating in a research report on Tuesday, September 15th. Guggenheim reiterated a “buy” rating and issued a $235.00 target price on shares of Darden Restaurants in a research note on Friday, September 25th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $230.00 target price on shares of Darden Restaurants in a research report on Friday, September 25th. Sixteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $232.82.
View Our Latest Stock Report on Darden Restaurants
Darden Restaurants Company Profile
Darden Restaurants, Inc is a full-service restaurant company that owns and operates a portfolio of dining brands in the United States. Its restaurants offer a range of cuisines and dining formats, including Italian-American, steakhouse, seafood, casual dining and polished casual concepts.
The company’s portfolio includes Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, Ruth’s Chris Steak House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s. These brands serve meals prepared for on-premises dining, as well as takeout and other off-premises occasions.
Darden traces its history to 1968, when founder William “Bill” Darden opened the first Red Lobster restaurant in Lakeland, Florida.
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