Burney Co. Trims Holdings in Darden Restaurants, Inc. (NYSE:DRI)

Burney Co. trimmed its stake in Darden Restaurants, Inc. (NYSE:DRI) by 7.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,545 shares of the restaurant operator’s stock after selling 200 shares during the period. Burney Co.’s holdings in Darden Restaurants were worth $425,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Resurgent Financial Advisors LLC purchased a new stake in shares of Darden Restaurants in the 4th quarter valued at approximately $29,000. HHM Wealth Advisors LLC purchased a new stake in shares of Darden Restaurants in the 1st quarter valued at approximately $33,000. Clear Street Markets LLC raised its stake in shares of Darden Restaurants by 93.5% in the 1st quarter. Clear Street Markets LLC now owns 240 shares of the restaurant operator’s stock valued at $37,000 after acquiring an additional 116 shares during the period. Fortis Capital Advisors LLC purchased a new stake in shares of Darden Restaurants in the 4th quarter valued at approximately $49,000. Finally, Industrial Alliance Investment Management Inc. raised its stake in shares of Darden Restaurants by 292.5% in the 4th quarter. Industrial Alliance Investment Management Inc. now owns 365 shares of the restaurant operator’s stock valued at $50,000 after acquiring an additional 272 shares during the period. 94.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DRI shares. TD Cowen reaffirmed an “outperform” rating and set a $175.00 target price on shares of Darden Restaurants in a research note on Thursday, September 21st. Raymond James cut their target price on shares of Darden Restaurants from $165.00 to $155.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 18th. Citigroup upped their target price on shares of Darden Restaurants from $184.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, September 22nd. Barclays cut their target price on shares of Darden Restaurants from $175.00 to $165.00 and set an “overweight” rating on the stock in a research note on Monday, October 23rd. Finally, Piper Sandler cut their target price on shares of Darden Restaurants from $167.00 to $161.00 and set a “neutral” rating on the stock in a research note on Friday, September 22nd. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $167.83.

Insider Buying and Selling

In related news, SVP Susan M. Connelly sold 1,070 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $141.43, for a total value of $151,330.10. Following the sale, the senior vice president now directly owns 8,253 shares of the company’s stock, valued at $1,167,221.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Susan M. Connelly sold 1,070 shares of the firm’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $141.43, for a total value of $151,330.10. Following the transaction, the senior vice president now owns 8,253 shares in the company, valued at $1,167,221.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Melvin John Martin sold 2,966 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $139.62, for a total transaction of $414,112.92. Following the completion of the transaction, the insider now owns 17,143 shares in the company, valued at approximately $2,393,505.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,255 shares of company stock valued at $741,016. Insiders own 0.85% of the company’s stock.

Darden Restaurants Stock Up 0.1 %

Shares of Darden Restaurants stock opened at $155.86 on Friday. The company has a market cap of $18.75 billion, a P/E ratio of 19.41, a PEG ratio of 1.71 and a beta of 1.26. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.26 and a current ratio of 0.40. Darden Restaurants, Inc. has a one year low of $131.90 and a one year high of $173.06. The firm has a fifty day moving average of $144.84 and a two-hundred day moving average of $155.54.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Thursday, September 21st. The restaurant operator reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.05. The company had revenue of $2.73 billion during the quarter, compared to the consensus estimate of $2.71 billion. Darden Restaurants had a net margin of 9.13% and a return on equity of 47.87%. Darden Restaurants’s quarterly revenue was up 11.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.56 EPS. On average, analysts forecast that Darden Restaurants, Inc. will post 8.77 earnings per share for the current year.

Darden Restaurants Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were given a $1.31 dividend. The ex-dividend date was Friday, October 6th. This represents a $5.24 annualized dividend and a dividend yield of 3.36%. Darden Restaurants’s dividend payout ratio is presently 65.26%.

Darden Restaurants Company 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.