Amalgamated Bank Has $5.44 Million Stake in Darden Restaurants, Inc. (NYSE:DRI)

Amalgamated Bank lessened its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,114 shares of the restaurant operator’s stock after selling 3,727 shares during the period. Amalgamated Bank’s holdings in Darden Restaurants were worth $5,441,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Darden Restaurants by 7.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,338 shares of the restaurant operator’s stock valued at $478,000 after purchasing an additional 224 shares during the period. Prime Capital Investment Advisors LLC boosted its holdings in shares of Darden Restaurants by 19.7% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 2,789 shares of the restaurant operator’s stock worth $458,000 after buying an additional 459 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Darden Restaurants during the 4th quarter worth approximately $17,202,000. Invera Wealth Advisors LLC bought a new stake in shares of Darden Restaurants in the 4th quarter valued at $1,038,000. Finally, American Century Companies Inc. lifted its position in shares of Darden Restaurants by 21.1% during the 3rd quarter. American Century Companies Inc. now owns 197,738 shares of the restaurant operator’s stock valued at $28,320,000 after acquiring an additional 34,478 shares during the period. Institutional investors and hedge funds own 93.64% of the company’s stock.

Insider Activity

In other news, Director William S. Simon sold 1,219 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $158.21, for a total value of $192,857.99. Following the completion of the transaction, the director now directly owns 6,281 shares of the company’s stock, valued at $993,717.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director William S. Simon sold 1,219 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $158.21, for a total value of $192,857.99. Following the transaction, the director now owns 6,281 shares of the company’s stock, valued at $993,717.01. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Matthew R. Broad sold 4,707 shares of Darden Restaurants stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $156.15, for a total value of $734,998.05. Following the sale, the senior vice president now directly owns 19,179 shares of the company’s stock, valued at approximately $2,994,800.85. The disclosure for this sale can be found here. Insiders have sold a total of 13,599 shares of company stock valued at $2,197,891 over the last quarter. Company insiders own 0.85% of the company’s stock.

Darden Restaurants Trading Down 1.2 %

Shares of Darden Restaurants stock opened at $147.42 on Tuesday. The stock has a fifty day moving average price of $163.05 and a 200-day moving average price of $160.01. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.39 and a quick ratio of 0.25. The firm has a market cap of $17.60 billion, a PE ratio of 17.28, a P/E/G ratio of 1.64 and a beta of 1.27. Darden Restaurants, Inc. has a 1 year low of $133.36 and a 1 year high of $176.84.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Thursday, March 21st. The restaurant operator reported $2.62 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.01). Darden Restaurants had a return on equity of 49.94% and a net margin of 9.24%. The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the firm posted $2.34 EPS. The business’s revenue was up 6.8% on a year-over-year basis. Equities research analysts anticipate that Darden Restaurants, Inc. will post 8.85 EPS for the current year.

Darden Restaurants Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a $1.31 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $5.24 annualized dividend and a dividend yield of 3.55%. Darden Restaurants’s payout ratio is 61.43%.

Darden Restaurants announced that its board has authorized a share buyback program on Thursday, March 21st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the restaurant operator to buy up to 5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DRI shares. Guggenheim lifted their price target on shares of Darden Restaurants from $180.00 to $185.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Stifel Nicolaus upped their price target on Darden Restaurants from $185.00 to $190.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Morgan Stanley reduced their price objective on Darden Restaurants from $184.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, March 22nd. Wedbush lowered their target price on Darden Restaurants from $187.00 to $181.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Finally, Citigroup reduced their price target on shares of Darden Restaurants from $200.00 to $192.00 and set a “buy” rating for the company in a research report on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Darden Restaurants currently has a consensus rating of “Moderate Buy” and an average target price of $178.85.

About Darden Restaurants

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.