Vanguard Personalized Indexing Management LLC Increases Position in Darden Restaurants, Inc. (NYSE:DRI)

Vanguard Personalized Indexing Management LLC increased its stake in shares of Darden Restaurants, Inc. (NYSE:DRIFree Report) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,701 shares of the restaurant operator’s stock after acquiring an additional 328 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Darden Restaurants were worth $1,265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in DRI. Fortitude Family Office LLC acquired a new position in shares of Darden Restaurants in the fourth quarter valued at approximately $29,000. Hartford Financial Management Inc. grew its position in Darden Restaurants by 65.1% in the 4th quarter. Hartford Financial Management Inc. now owns 180 shares of the restaurant operator’s stock valued at $30,000 after buying an additional 71 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new position in Darden Restaurants in the 4th quarter valued at $33,000. McGlone Suttner Wealth Management Inc. purchased a new position in Darden Restaurants during the 4th quarter worth $35,000. Finally, Gables Capital Management Inc. lifted its stake in shares of Darden Restaurants by 106.4% in the 4th quarter. Gables Capital Management Inc. now owns 227 shares of the restaurant operator’s stock worth $37,000 after acquiring an additional 117 shares during the period. Institutional investors and hedge funds own 93.64% of the company’s stock.

Wall Street Analyst Weigh In

DRI has been the subject of several analyst reports. Guggenheim increased their price target on shares of Darden Restaurants from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. BMO Capital Markets raised their price target on Darden Restaurants from $160.00 to $165.00 and gave the company a “market perform” rating in a report on Thursday, March 7th. Truist Financial restated a “buy” rating and issued a $190.00 price target on shares of Darden Restaurants in a research note on Friday, March 22nd. Bank of America increased their price objective on Darden Restaurants from $193.00 to $198.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Wedbush lowered their price target on shares of Darden Restaurants from $187.00 to $181.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.67.

Read Our Latest Research Report on Darden Restaurants

Darden Restaurants Trading Up 1.7 %

Darden Restaurants stock opened at $154.00 on Friday. The stock has a 50-day moving average price of $158.49 and a 200 day moving average price of $160.37. Darden Restaurants, Inc. has a 52 week low of $133.36 and a 52 week high of $176.84. The stock has a market cap of $18.38 billion, a PE ratio of 18.05, a P/E/G ratio of 1.69 and a beta of 1.27. The company has a current ratio of 0.39, a quick ratio of 0.25 and a debt-to-equity ratio of 0.63.

Darden Restaurants (NYSE:DRIGet Free Report) last issued its quarterly earnings results on Thursday, March 21st. The restaurant operator reported $2.62 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.01). The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Darden Restaurants had a return on equity of 49.94% and a net margin of 9.24%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.34 earnings per share. Equities research analysts predict that Darden Restaurants, Inc. will post 8.85 earnings per share for the current fiscal year.

Darden Restaurants Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend was Tuesday, April 9th. Darden Restaurants’s dividend payout ratio is presently 61.43%.

Darden Restaurants announced that its Board of Directors has approved a stock buyback program on Thursday, March 21st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the restaurant operator to repurchase up to 5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Darden Restaurants

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

Darden Restaurants Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

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