Ellsworth Advisors LLC Takes $6.18 Million Position in Darden Restaurants, Inc. (NYSE:DRI)

Ellsworth Advisors LLC bought a new position in shares of Darden Restaurants, Inc. (NYSE:DRI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 33,087 shares of the restaurant operator's stock, valued at approximately $6,177,000. Darden Restaurants comprises approximately 1.6% of Ellsworth Advisors LLC's investment portfolio, making the stock its 12th largest position.

Several other large investors have also bought and sold shares of DRI. Mizuho Securities USA LLC increased its holdings in Darden Restaurants by 96,162.9% in the 3rd quarter. Mizuho Securities USA LLC now owns 8,861,000 shares of the restaurant operator's stock worth $1,454,356,000 after purchasing an additional 8,851,795 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Darden Restaurants by 111.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,469,083 shares of the restaurant operator's stock valued at $241,121,000 after buying an additional 772,907 shares during the last quarter. International Assets Investment Management LLC boosted its position in Darden Restaurants by 16,996.9% during the 3rd quarter. International Assets Investment Management LLC now owns 377,500 shares of the restaurant operator's stock worth $61,959,000 after buying an additional 375,292 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Darden Restaurants during the 3rd quarter worth approximately $40,048,000. Finally, Toronto Dominion Bank increased its position in Darden Restaurants by 139.9% in the 2nd quarter. Toronto Dominion Bank now owns 352,344 shares of the restaurant operator's stock valued at $53,317,000 after acquiring an additional 205,450 shares during the period. 93.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DRI has been the topic of several analyst reports. BMO Capital Markets boosted their price objective on shares of Darden Restaurants from $165.00 to $175.00 and gave the stock a "market perform" rating in a research note on Friday, December 20th. UBS Group upped their price target on Darden Restaurants from $195.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, December 20th. Citigroup cut their price objective on Darden Restaurants from $209.00 to $206.00 and set a "buy" rating on the stock in a research note on Wednesday, December 4th. Oppenheimer increased their target price on shares of Darden Restaurants from $200.00 to $218.00 and gave the company an "outperform" rating in a research report on Tuesday, January 7th. Finally, Bank of America boosted their price target on shares of Darden Restaurants from $195.00 to $211.00 and gave the stock a "buy" rating in a research report on Friday, December 20th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $189.12.

Insider Activity at Darden Restaurants

In related news, CFO Rajesh Vennam sold 7,228 shares of the 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 owns 10,262 shares in the company, valued at approximately $1,864,708.02. This trade represents a 41.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Todd Burrowes sold 15,783 shares of the company's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $183.03, for a total transaction of $2,888,762.49. Following the completion of the transaction, the insider now owns 46,288 shares in the company, valued at approximately $8,472,092.64. This trade represents a 25.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,275 shares of company stock worth $5,913,038. 0.58% of the stock is owned by corporate insiders.

Darden Restaurants Stock Up 0.3 %

NYSE DRI traded up $0.52 on Monday, reaching $181.58. The company had a trading volume of 931,685 shares, compared to its average volume of 1,474,956. The company has a quick ratio of 0.23, a current ratio of 0.37 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $21.27 billion, a P/E ratio of 20.80, a P/E/G ratio of 1.99 and a beta of 1.31. The company's fifty day moving average is $175.72 and its 200 day moving average is $162.20. Darden Restaurants, Inc. has a 52-week low of $135.87 and a 52-week high of $189.18.

Darden Restaurants (NYSE:DRI - Get Free Report) last released 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. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the firm earned $1.84 earnings per share. The firm's revenue was up 6.0% on a year-over-year basis. Sell-side analysts anticipate that Darden Restaurants, Inc. will post 9.52 earnings per share for the current fiscal year.

Darden Restaurants Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Friday, January 10th. Darden Restaurants's dividend payout ratio (DPR) is currently 64.15%.

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.