Atria Investments Inc lowered its position in shares of Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 29.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,890 shares of the restaurant operator's stock after selling 3,687 shares during the period. Atria Investments Inc's holdings in Darden Restaurants were worth $1,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in DRI. J.Safra Asset Management Corp raised its position in Darden Restaurants by 78.8% in the fourth quarter. J.Safra Asset Management Corp now owns 810 shares of the restaurant operator's stock valued at $151,000 after purchasing an additional 357 shares during the period. Synergy Investment Management LLC purchased a new stake in shares of Darden Restaurants during the fourth quarter worth $416,000. Charles Schwab Investment Management Inc. increased its holdings in Darden Restaurants by 4.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,750,658 shares of the restaurant operator's stock worth $700,210,000 after purchasing an additional 170,336 shares during the period. Steward Partners Investment Advisory LLC raised its position in Darden Restaurants by 2.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 212,134 shares of the restaurant operator's stock valued at $39,603,000 after purchasing an additional 5,090 shares in the last quarter. Finally, Woodley Farra Manion Portfolio Management Inc. boosted its stake in shares of Darden Restaurants by 0.5% in the 4th quarter. Woodley Farra Manion Portfolio Management Inc. now owns 373,265 shares of the restaurant operator's stock valued at $69,685,000 after buying an additional 1,946 shares during the period. Hedge funds and other institutional investors own 93.64% of the company's stock.
Darden Restaurants Price Performance
DRI stock traded down $1.10 during midday trading on Wednesday, hitting $188.29. 595,520 shares of the stock were exchanged, compared to its average volume of 1,140,224. The stock's 50-day moving average price is $191.21 and its 200-day moving average price is $175.03. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.23 and a current ratio of 0.37. The stock has a market cap of $22.06 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 2.15 and a beta of 1.27. Darden Restaurants, Inc. has a fifty-two week low of $135.87 and a fifty-two week high of $203.12.
Darden Restaurants (NYSE:DRI - Get Free Report) last announced its quarterly earnings results on Thursday, December 19th. The restaurant operator reported $2.03 earnings per share for the quarter, meeting analysts' consensus estimates of $2.03. The business had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.87 billion. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The business's revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $1.84 earnings per share. Research analysts predict that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.
Darden Restaurants Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.97%. Darden Restaurants's dividend payout ratio (DPR) is 64.15%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on DRI. Raymond James raised their price objective on shares of Darden Restaurants from $200.00 to $210.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Wedbush lifted their price target on Darden Restaurants from $200.00 to $220.00 and gave the stock an "outperform" rating in a report on Friday, December 20th. Barclays increased their price objective on Darden Restaurants from $206.00 to $230.00 and gave the company an "overweight" rating in a report on Tuesday, January 7th. Citigroup cut their target price on Darden Restaurants from $209.00 to $206.00 and set a "buy" rating on the stock in a research report on Wednesday, December 4th. Finally, Sanford C. Bernstein upgraded shares of Darden Restaurants from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $180.00 to $215.00 in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Darden Restaurants presently has a consensus rating of "Moderate Buy" and an average price target of $192.52.
Check Out Our Latest Stock Analysis on Darden Restaurants
Insider Buying and Selling
In other news, CFO Rajesh Vennam sold 7,228 shares of the company's stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $181.71, for a total value of $1,313,399.88. Following the sale, the chief financial officer now directly owns 10,262 shares in the company, valued at $1,864,708.02. This represents a 41.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas J. Milanes sold 7,892 shares of Darden Restaurants stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $195.95, for a total value of $1,546,437.40. Following the sale, the senior vice president now owns 3,914 shares of the company's stock, valued at approximately $766,948.30. This represents a 66.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,926 shares of company stock worth $9,850,129 in the last ninety days. Insiders own 0.58% of the company's stock.
Darden Restaurants Company 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.
Featured Stories
Before you consider Darden Restaurants, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Darden Restaurants wasn't on the list.
While Darden Restaurants currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
