Trust Investment Advisors Acquires Shares of 1,196 Darden Restaurants, Inc. (NYSE:DRI)

Trust Investment Advisors bought a new stake in Darden Restaurants, Inc. (NYSE:DRI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,196 shares of the restaurant operator’s stock, valued at approximately $223,000.

A number of other large investors have also added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new stake in shares of Darden Restaurants during the fourth quarter worth about $25,000. Compass Wealth Management LLC acquired a new stake in Darden Restaurants during the 4th quarter valued at approximately $28,000. TCTC Holdings LLC purchased a new stake in Darden Restaurants during the 4th quarter worth approximately $28,000. MCF Advisors LLC raised its position in shares of Darden Restaurants by 50.9% in the 4th quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 59 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its stake in shares of Darden Restaurants by 103.2% during the 4th quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator’s stock valued at $47,000 after buying an additional 129 shares during the last quarter. 93.64% of the stock is owned by institutional investors and hedge funds.

Darden Restaurants Stock Performance

DRI stock opened at $207.43 on Wednesday. The company has a 50-day simple moving average of $193.09 and a 200 day simple moving average of $177.56. The company has a market capitalization of $24.30 billion, a P/E ratio of 23.76, a PEG ratio of 2.15 and a beta of 1.27. The company has a quick ratio of 0.23, a current ratio of 0.37 and a debt-to-equity ratio of 1.02. Darden Restaurants, Inc. has a fifty-two week low of $135.87 and a fifty-two week high of $210.47.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Thursday, March 20th. The restaurant operator reported $2.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.80. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.22 billion. During the same period in the prior year, the business posted $2.60 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts predict that Darden Restaurants, Inc. will post 9.52 earnings per share for the current fiscal year.

Darden Restaurants Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.70%. The ex-dividend date is Thursday, April 10th. Darden Restaurants’s dividend payout ratio (DPR) is presently 63.13%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. BMO Capital Markets upped their price target on shares of Darden Restaurants from $175.00 to $190.00 and gave the company a “market perform” rating in a report on Friday, March 21st. Raymond James increased their price target on shares of Darden Restaurants from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group assumed coverage on Darden Restaurants in a report on Thursday, December 5th. They issued a “neutral” rating and a $183.00 price objective for the company. Truist Financial increased their target price on Darden Restaurants from $200.00 to $212.00 and gave the stock a “buy” rating in a report on Monday, March 17th. Finally, Guggenheim boosted their price target on Darden Restaurants from $205.00 to $220.00 and gave the company a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $202.08.

Insider Transactions at Darden Restaurants

In related news, insider Todd Burrowes sold 15,783 shares of Darden Restaurants stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $183.03, for a total transaction of $2,888,762.49. Following the transaction, the insider now directly owns 46,288 shares of the company’s stock, valued at $8,472,092.64. The trade was a 25.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas J. Milanes sold 7,892 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $195.95, for a total transaction of $1,546,437.40. Following the completion of the sale, the senior vice president now directly owns 3,914 shares of the company’s stock, valued at $766,948.30. The trade was a 66.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,698 shares of company stock valued at $8,536,729. Corporate insiders own 0.58% of the company’s stock.

Darden Restaurants Profile

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.