1,878 Shares in Darden Restaurants, Inc. (NYSE:DRI) Purchased by Everpar Advisors LLC

Everpar Advisors LLC acquired a new position in Darden Restaurants, Inc. (NYSE:DRI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,878 shares of the restaurant operator’s stock, valued at approximately $309,000.

Several other large investors also recently added to or reduced their stakes in DRI. Fortitude Family Office LLC purchased a new stake in Darden Restaurants in the 4th quarter worth about $29,000. Hartford Financial Management Inc. increased its holdings in Darden Restaurants by 65.1% in the 4th quarter. Hartford Financial Management Inc. now owns 180 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 71 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in Darden Restaurants in the 4th quarter worth about $33,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Darden Restaurants in the 4th quarter worth about $35,000. Finally, Ancora Advisors LLC increased its holdings in Darden Restaurants by 324.2% in the 3rd quarter. Ancora Advisors LLC now owns 280 shares of the restaurant operator’s stock worth $40,000 after acquiring an additional 214 shares during the last quarter. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Darden Restaurants Price Performance

DRI traded up $0.98 during midday trading on Wednesday, hitting $148.01. The stock had a trading volume of 1,225,710 shares, compared to its average volume of 1,185,354. The company has a market cap of $17.67 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 1.64 and a beta of 1.27. The business has a fifty day moving average of $162.16 and a 200 day moving average of $160.10. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.25 and a current ratio of 0.39. Darden Restaurants, Inc. has a 1 year low of $133.36 and a 1 year high of $176.84.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, March 21st. The restaurant operator reported $2.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.01). The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Darden Restaurants had a return on equity of 49.94% and a net margin of 9.24%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.34 EPS. As a group, equities analysts forecast that Darden Restaurants, Inc. will post 8.85 earnings per share for the current fiscal year.

Darden Restaurants declared that its Board of Directors has initiated a stock repurchase plan on Thursday, March 21st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the restaurant operator to reacquire up to 5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Darden Restaurants Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were paid a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Tuesday, April 9th. Darden Restaurants’s dividend payout ratio (DPR) is presently 61.43%.

Insider Transactions at Darden Restaurants

In other Darden Restaurants news, SVP Matthew R. Broad sold 4,707 shares of the business’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $156.15, for a total value of $734,998.05. Following the transaction, the senior vice president now owns 19,179 shares in the company, valued at $2,994,800.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Darden Restaurants news, SVP Matthew R. Broad sold 4,707 shares of the stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $156.15, for a total value of $734,998.05. Following the completion of the sale, the senior vice president now owns 19,179 shares in the company, valued at approximately $2,994,800.85. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Melvin John Martin sold 7,673 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $165.52, for a total value of $1,270,034.96. Following the transaction, the insider now owns 17,208 shares of the company’s stock, valued at approximately $2,848,268.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,599 shares of company stock worth $2,197,891. Insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Truist Financial restated a “buy” rating and issued a $190.00 target price on shares of Darden Restaurants in a research note on Friday, March 22nd. Bank of America raised their target price on Darden Restaurants from $193.00 to $198.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Wedbush cut their target price on Darden Restaurants from $187.00 to $181.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Oppenheimer cut their target price on Darden Restaurants from $186.00 to $182.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Guggenheim raised their target price on Darden Restaurants from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Five equities 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, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.