Natixis Advisors LLC boosted its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI – Free Report) by 6.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 142,033 shares of the restaurant operator’s stock after buying an additional 8,073 shares during the quarter. Natixis Advisors LLC’s holdings in Darden Restaurants were worth $26,137,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. grew its position in Darden Restaurants by 2.4% during the fourth 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 during the period. Cary Street Partners Investment Advisory LLC boosted its position in shares of Darden Restaurants by 4.7% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,144 shares of the restaurant operator’s stock worth $211,000 after purchasing an additional 51 shares during the period. New York Life Investment Management LLC boosted its position in shares of Darden Restaurants by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 15,983 shares of the restaurant operator’s stock worth $2,941,000 after purchasing an additional 55 shares during the period. Stonebrook Private Inc. boosted its position in shares of Darden Restaurants by 0.4% in the third quarter. Stonebrook Private Inc. now owns 13,425 shares of the restaurant operator’s stock worth $2,556,000 after purchasing an additional 60 shares during the period. Finally, Glenview Trust co boosted its position in shares of Darden Restaurants by 4.9% in the second quarter. Glenview Trust co now owns 1,308 shares of the restaurant operator’s stock worth $285,000 after purchasing an additional 61 shares during the period. 93.64% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Darden Restaurants
In other news, 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Douglas J. Milanes sold 3,620 shares of the business’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $202.16, for a total transaction of $731,819.20. Following the completion of the transaction, the senior vice president directly owned 274 shares in the company, valued at $55,391.84. This trade represents a 92.96% decrease in their position. The SEC filing for this sale provides additional information. 0.49% of the stock is currently owned by insiders.
Darden Restaurants Price Performance
Darden Restaurants (NYSE:DRI – Get Free Report) last released its earnings results on Thursday, March 19th. The restaurant operator reported $2.95 EPS for the quarter, topping the consensus estimate of $2.94 by $0.01. Darden Restaurants had a net margin of 8.66% and a return on equity of 53.54%. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the firm earned $2.80 earnings per share. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, equities analysts anticipate that Darden Restaurants, Inc. will post 10.61 EPS for the current fiscal year.
Darden Restaurants Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 10th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, April 10th. Darden Restaurants’s payout ratio is 63.49%.
Analyst Ratings Changes
A number of research firms have weighed in on DRI. UBS Group reiterated a “buy” rating and issued a $230.00 price target on shares of Darden Restaurants in a research report on Tuesday, March 10th. Bank of America upped their price target on shares of Darden Restaurants from $261.00 to $262.00 and gave the stock a “buy” rating in a research report on Monday, March 16th. Robert W. Baird upped their price target on shares of Darden Restaurants from $208.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, March 20th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Darden Restaurants in a research report on Friday, March 13th. Finally, Wells Fargo & Company upped their price target on shares of Darden Restaurants from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $226.32.
Check Out Our Latest Stock Analysis on DRI
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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