Clarus Wealth Advisors Takes $226,000 Position in Darden Restaurants, Inc. (NYSE:DRI)

Clarus Wealth Advisors acquired a new position in shares of Darden Restaurants, Inc. (NYSE:DRI) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,385 shares of the restaurant operator’s stock, valued at approximately $226,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Resurgent Financial Advisors LLC acquired a new stake in shares of Darden Restaurants in the fourth quarter valued at $29,000. HHM Wealth Advisors LLC acquired a new stake in shares of Darden Restaurants during the first quarter worth about $33,000. Hanson & Doremus Investment Management boosted its stake in shares of Darden Restaurants by 43.3% in the first quarter. Hanson & Doremus Investment Management now owns 235 shares of the restaurant operator’s stock valued at $36,000 after purchasing an additional 71 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of Darden Restaurants by 63.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 237 shares of the restaurant operator’s stock valued at $37,000 after purchasing an additional 92 shares in the last quarter. Finally, Geneos Wealth Management Inc. increased its stake in Darden Restaurants by 42.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 240 shares of the restaurant operator’s stock worth $37,000 after buying an additional 71 shares during the period. 94.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Darden Restaurants

In other news, SVP Douglas J. Milanes sold 6,905 shares of the firm’s stock in a transaction on Monday, June 26th. The shares were sold at an average price of $160.39, for a total value of $1,107,492.95. Following the completion of the sale, the senior vice president now owns 5,374 shares in the company, valued at approximately $861,935.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Douglas J. Milanes sold 6,905 shares of the firm’s stock in a transaction that occurred on Monday, June 26th. The stock was sold at an average price of $160.39, for a total value of $1,107,492.95. Following the completion of the sale, the senior vice president now directly owns 5,374 shares of the company’s stock, valued at approximately $861,935.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew R. Broad sold 18,578 shares of the stock in a transaction on Thursday, July 13th. The stock was sold at an average price of $168.18, for a total value of $3,124,448.04. Following the completion of the transaction, the senior vice president now owns 16,724 shares of the company’s stock, valued at approximately $2,812,642.32. The disclosure for this sale can be found here. Insiders have sold a total of 260,775 shares of company stock worth $43,532,251 in the last three months. Insiders own 0.85% of the company’s stock.

Darden Restaurants Trading Down 1.2 %

NYSE:DRI opened at $150.06 on Friday. The company has a quick ratio of 0.37, a current ratio of 0.51 and a debt-to-equity ratio of 0.40. Darden Restaurants, Inc. has a 52-week low of $120.20 and a 52-week high of $173.06. The stock’s 50 day moving average price is $160.75 and its 200 day moving average price is $157.47. The company has a market capitalization of $18.14 billion, a PE ratio of 18.76, a P/E/G ratio of 1.64 and a beta of 1.24.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, June 22nd. The restaurant operator reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.54 by $0.04. Darden Restaurants had a net margin of 9.36% and a return on equity of 47.22%. The company had revenue of $2.77 billion for the quarter, compared to analyst estimates of $2.77 billion. During the same period in the previous year, the business posted $2.24 earnings per share. Darden Restaurants’s quarterly revenue was up 6.4% on a year-over-year basis. On average, research analysts anticipate that Darden Restaurants, Inc. will post 8.75 EPS for the current year.

Darden Restaurants Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend was Friday, July 7th. This is a boost from Darden Restaurants’s previous quarterly dividend of $1.21. Darden Restaurants’s dividend payout ratio is 65.50%.

Analyst Ratings Changes

Several research firms have commented on DRI. Barclays boosted their price target on shares of Darden Restaurants from $173.00 to $177.00 in a research note on Friday, June 23rd. Royal Bank of Canada cut their price target on Darden Restaurants from $185.00 to $183.00 in a report on Friday, June 23rd. Piper Sandler began coverage on Darden Restaurants in a research report on Monday, July 17th. They set a “neutral” rating and a $167.00 price objective for the company. StockNews.com upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Finally, Bank of America lifted their price target on shares of Darden Restaurants from $172.00 to $187.00 in a research note on Monday, June 19th. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Darden Restaurants has a consensus rating of “Moderate Buy” and a consensus target price of $168.22.

Darden Restaurants Profile

Darden Restaurants, Inc, through 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 brands.