Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Darden Restaurants, Inc. (NYSE:DRI – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,286 shares of the restaurant operator’s stock, valued at approximately $471,000.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bell Investment Advisors Inc bought a new position in Darden Restaurants in the 2nd quarter valued at approximately $28,000. Torren Management LLC acquired a new stake in Darden Restaurants in the fourth quarter valued at approximately $26,000. Union Savings Bank bought a new stake in shares of Darden Restaurants during the fourth quarter worth $28,000. BOK Financial Private Wealth Inc. bought a new stake in shares of Darden Restaurants during the fourth quarter worth $29,000. Finally, DV Equities LLC acquired a new position in shares of Darden Restaurants during the fourth quarter worth $30,000. Institutional investors own 93.64% of the company’s stock.
Insider Transactions at Darden Restaurants
In other Darden Restaurants news, SVP Susan M. Connelly sold 2,226 shares of the company’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $208.17, for a total value of $463,386.42. Following the sale, the senior vice president owned 4,165 shares in the company, valued at approximately $867,028.05. The trade was a 34.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John W. Wilkerson sold 8,864 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $208.33, for a total value of $1,846,637.12. Following the completion of the sale, the insider directly owned 18,794 shares of the company’s stock, valued at approximately $3,915,354.02. The trade was a 32.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 70,185 shares of company stock worth $14,636,984. 0.67% of the stock is currently owned by insiders.
Darden Restaurants Price Performance
Darden Restaurants (NYSE:DRI – Get Free Report) last issued its quarterly earnings results on Thursday, June 25th. The restaurant operator reported $3.66 EPS for the quarter, topping analysts’ consensus estimates of $3.63 by $0.03. Darden Restaurants had a net margin of 9.13% and a return on equity of 57.44%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.73 billion. During the same quarter in the previous year, the business earned $2.98 earnings per share. Darden Restaurants’s revenue was up 13.7% compared to the same quarter last year. Darden Restaurants has set its FY 2027 guidance at 11.100-11.350 EPS. As a group, equities analysts expect that Darden Restaurants, Inc. will post 11.28 EPS for the current year.
Darden Restaurants Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Shareholders of record on Friday, July 10th were issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, July 10th. This is a boost from Darden Restaurants’s previous quarterly dividend of $1.50. Darden Restaurants’s dividend payout ratio (DPR) is presently 62.43%.
Wall Street Analysts Forecast Growth
DRI has been the subject of a number of research reports. BTIG Research increased their price target on Darden Restaurants from $225.00 to $235.00 and gave the company a “buy” rating in a research note on Friday, June 26th. BMO Capital Markets restated a “market perform” rating on shares of Darden Restaurants in a research report on Monday, June 22nd. Robert W. Baird raised Darden Restaurants from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $220.00 to $250.00 in a report on Monday. Stephens increased their target price on Darden Restaurants from $210.00 to $216.00 and gave the company an “equal weight” rating in a research report on Friday, June 26th. Finally, Evercore lowered Darden Restaurants from an “outperform” rating to an “in-line” rating and set a $230.00 price target on the stock. in a research note on Tuesday, June 23rd. Eighteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $230.12.
Check Out Our Latest Analysis on DRI
About Darden Restaurants
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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