Kestra Private Wealth Services LLC Purchases 177 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Kestra Private Wealth Services LLC boosted its position in Darden Restaurants, Inc. (NYSE:DRI) by 5.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,260 shares of the restaurant operator’s stock after buying an additional 177 shares during the period. Kestra Private Wealth Services LLC’s holdings in Darden Restaurants were worth $536,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC acquired a new position in shares of Darden Restaurants during the 4th quarter valued at $29,000. Hartford Financial Management Inc. boosted its position in shares of Darden Restaurants by 65.1% during the 4th quarter. Hartford Financial Management Inc. now owns 180 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 71 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of Darden Restaurants in the 4th quarter valued at about $33,000. McGlone Suttner Wealth Management Inc. bought a new stake in Darden Restaurants in the 4th quarter valued at about $35,000. Finally, BKM Wealth Management LLC acquired a new position in Darden Restaurants during the 4th quarter worth approximately $41,000. Institutional investors own 93.64% of the company’s stock.

Insider Buying and Selling

In related news, insider Melvin John Martin sold 7,673 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $165.52, for a total value of $1,270,034.96. Following the sale, the insider now directly owns 17,208 shares of the company’s stock, valued at $2,848,268.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Melvin John Martin sold 7,673 shares of the firm’s stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $165.52, for a total transaction of $1,270,034.96. Following the transaction, the insider now directly owns 17,208 shares of the company’s stock, valued at approximately $2,848,268.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Matthew R. Broad sold 4,707 shares of the stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $156.15, for a total transaction of $734,998.05. Following the transaction, the senior vice president now owns 19,179 shares in the company, valued at $2,994,800.85. The disclosure for this sale can be found here. Insiders sold a total of 13,599 shares of company stock worth $2,197,891 over the last ninety days. 0.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Citigroup decreased their price objective on Darden Restaurants from $200.00 to $192.00 and set a “buy” rating for the company in a report on Friday, March 22nd. BMO Capital Markets upped their price objective on shares of Darden Restaurants from $160.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. lifted their price objective on shares of Darden Restaurants from $170.00 to $180.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Stephens initiated coverage on shares of Darden Restaurants in a report on Friday, April 12th. They issued an “equal weight” rating and a $170.00 target price on the stock. Finally, Truist Financial reiterated a “buy” rating and set a $190.00 price target on shares of Darden Restaurants in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Darden Restaurants has a consensus rating of “Moderate Buy” and a consensus price target of $178.85.

Darden Restaurants Stock Up 0.9 %

DRI stock opened at $149.25 on Monday. The stock has a 50-day simple moving average of $163.05 and a two-hundred day simple moving average of $159.88. Darden Restaurants, Inc. has a twelve month low of $133.36 and a twelve month high of $176.84. The firm has a market capitalization of $17.81 billion, a PE ratio of 17.50, a PEG ratio of 1.64 and a beta of 1.27. The company has a quick ratio of 0.25, a current ratio of 0.39 and a debt-to-equity ratio of 0.63.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, March 21st. The restaurant operator reported $2.62 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.01). Darden Restaurants had a net margin of 9.24% and a return on equity of 49.94%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the prior year, the firm posted $2.34 EPS. Darden Restaurants’s revenue was up 6.8% on a year-over-year basis. On average, equities analysts predict that Darden Restaurants, Inc. will post 8.85 EPS for the current fiscal year.

Darden Restaurants announced that its board has initiated a stock repurchase plan on Thursday, March 21st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the restaurant operator to repurchase up to 5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Darden Restaurants Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 3.51%. The ex-dividend date was Tuesday, April 9th. Darden Restaurants’s dividend payout ratio is 61.43%.

Darden Restaurants Profile

Darden Restaurants, Inc, together with its subsidiaries, owns and operates full-service restaurants in the United States and Canada. It operates under Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V's Prime Seafood, and Capital Burger brand names.