Darden Restaurants, Inc. (NYSE:DRI) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its stake in shares of Darden Restaurants, Inc. (NYSE:DRIFree Report) by 10.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 389,000 shares of the restaurant operator’s stock after selling 47,700 shares during the quarter. Swiss National Bank owned about 0.32% of Darden Restaurants worth $55,713,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Cetera Advisor Networks LLC increased its position in shares of Darden Restaurants by 2.6% in the first quarter. Cetera Advisor Networks LLC now owns 3,237 shares of the restaurant operator’s stock worth $430,000 after acquiring an additional 83 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Darden Restaurants by 25.1% in the first quarter. D.A. Davidson & CO. now owns 2,001 shares of the restaurant operator’s stock worth $266,000 after acquiring an additional 401 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Darden Restaurants in the first quarter worth approximately $150,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Darden Restaurants by 4.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,090 shares of the restaurant operator’s stock worth $2,272,000 after acquiring an additional 800 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Darden Restaurants by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 776,082 shares of the restaurant operator’s stock worth $103,176,000 after acquiring an additional 113,548 shares in the last quarter. Institutional investors and hedge funds own 94.53% of the company’s stock.

Darden Restaurants Stock Up 0.8 %

Shares of NYSE DRI opened at $165.84 on Wednesday. The company has a market cap of $19.80 billion, a price-to-earnings ratio of 20.05, a price-to-earnings-growth ratio of 2.33 and a beta of 1.27. The company has a quick ratio of 0.23, a current ratio of 0.36 and a debt-to-equity ratio of 0.67. Darden Restaurants, Inc. has a 12-month low of $133.36 and a 12-month high of $173.06. The firm’s 50-day simple moving average is $161.77 and its 200 day simple moving average is $155.08.

Darden Restaurants (NYSE:DRIGet Free Report) last announced its earnings results on Friday, December 15th. The restaurant operator reported $1.84 EPS for the quarter, topping the consensus estimate of $1.74 by $0.10. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.74 billion. Darden Restaurants had a net margin of 9.16% and a return on equity of 49.39%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $1.52 EPS. On average, research analysts expect that Darden Restaurants, Inc. will post 8.86 earnings per share for the current fiscal year.

Darden Restaurants Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were issued a $1.31 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.16%. Darden Restaurants’s dividend payout ratio (DPR) is presently 63.36%.

Wall Street Analyst Weigh In

DRI has been the topic of a number of research analyst reports. Stephens reaffirmed an “overweight” rating and set a $170.00 price objective on shares of Darden Restaurants in a research report on Monday, December 18th. BMO Capital Markets lifted their target price on shares of Darden Restaurants from $155.00 to $160.00 and gave the company a “market perform” rating in a research note on Monday, December 18th. KeyCorp lifted their target price on shares of Darden Restaurants from $175.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Truist Financial reiterated a “buy” rating and issued a $190.00 target price on shares of Darden Restaurants in a research note on Monday, December 18th. Finally, Evercore ISI boosted their price objective on shares of Darden Restaurants from $160.00 to $170.00 and gave the stock an “in-line” rating in a research note on Tuesday, December 12th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Darden Restaurants presently has an average rating of “Moderate Buy” and an average target price of $174.83.

Get Our Latest Report on Darden Restaurants

Insider Activity

In related news, insider Melvin John Martin sold 6,967 shares of the business’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $165.12, for a total transaction of $1,150,391.04. Following the transaction, the insider now directly owns 17,159 shares in the company, valued at $2,833,294.08. The sale was disclosed in a filing with the SEC, which is available through this link. In other Darden Restaurants news, insider Melvin John Martin sold 6,967 shares of Darden Restaurants stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $165.12, for a total transaction of $1,150,391.04. Following the completion of the transaction, the insider now directly owns 17,159 shares of the company’s stock, valued at $2,833,294.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Matthew R. Broad sold 6,831 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $163.26, for a total transaction of $1,115,229.06. Following the completion of the sale, the senior vice president now directly owns 19,141 shares of the company’s stock, valued at approximately $3,124,959.66. The disclosure for this sale can be found here. Insiders have sold 21,130 shares of company stock worth $3,475,482 over the last ninety days. Insiders own 0.85% 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.

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Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

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