Cerity Partners LLC Sells 1,848 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Cerity Partners LLC decreased its position in Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 13.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,600 shares of the restaurant operator's stock after selling 1,848 shares during the period. Cerity Partners LLC's holdings in Darden Restaurants were worth $1,989,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in DRI. Kestra Investment Management LLC acquired a new stake in Darden Restaurants in the 4th quarter valued at approximately $25,000. Compass Wealth Management LLC bought a new position in shares of Darden Restaurants in the fourth quarter worth $28,000. TCTC Holdings LLC acquired a new position in shares of Darden Restaurants during the fourth quarter valued at $28,000. MCF Advisors LLC raised its stake in shares of Darden Restaurants by 50.9% during the fourth quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator's stock valued at $33,000 after purchasing an additional 59 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its holdings in Darden Restaurants by 103.2% in the fourth quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator's stock worth $47,000 after purchasing an additional 129 shares during the period. Institutional investors and hedge funds own 93.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on DRI shares. Robert W. Baird dropped their price target on shares of Darden Restaurants from $210.00 to $192.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Barclays raised their price objective on shares of Darden Restaurants from $230.00 to $235.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. UBS Group upped their target price on Darden Restaurants from $210.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Citigroup lifted their price target on Darden Restaurants from $223.00 to $229.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Finally, BMO Capital Markets upped their price objective on Darden Restaurants from $175.00 to $190.00 and gave the company a "market perform" rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $201.38.

Insider Activity

In related news, insider Laura B. Williamson sold 2,289 shares of the company's stock in a transaction on Wednesday, March 26th. The shares were sold at an average price of $207.26, for a total transaction of $474,418.14. Following the completion of the sale, the insider now directly owns 10,056 shares of the company's stock, valued at approximately $2,084,206.56. This represents a 18.54 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ricardo Cardenas sold 20,518 shares of Darden Restaurants stock in a transaction on Monday, March 24th. The stock was sold at an average price of $208.19, for a total transaction of $4,271,642.42. Following the completion of the transaction, the chief executive officer now owns 58,836 shares in the company, valued at $12,249,066.84. This trade represents a 25.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,505 shares of company stock valued at $6,667,929. Insiders own 0.58% of the company's stock.

Darden Restaurants Stock Up 2.8 %

Shares of NYSE DRI traded up $5.53 during mid-day trading on Tuesday, reaching $202.60. The company had a trading volume of 935,533 shares, compared to its average volume of 1,287,016. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.23 and a current ratio of 0.37. Darden Restaurants, Inc. has a twelve month low of $135.87 and a twelve month high of $211.00. The stock's 50 day moving average is $196.31 and its 200-day moving average is $182.74. The stock has a market capitalization of $23.71 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 2.15 and a beta of 0.93.

Darden Restaurants (NYSE:DRI - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The restaurant operator reported $2.80 EPS for the quarter, hitting the consensus estimate of $2.80. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same quarter in the prior year, the business posted $2.60 EPS. Darden Restaurants's quarterly revenue was up 6.2% on a year-over-year basis. As a group, equities analysts anticipate that Darden Restaurants, Inc. will post 9.52 earnings per share for the current fiscal year.

Darden Restaurants Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $5.60 annualized dividend and a dividend yield of 2.76%. Darden Restaurants's dividend payout ratio (DPR) is presently 63.13%.

Darden Restaurants Company 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.