LMG Wealth Partners LLC Acquires 945 Shares of Darden Restaurants, Inc. $DRI

LMG Wealth Partners LLC increased its holdings in shares of Darden Restaurants, Inc. (NYSE:DRIFree Report) by 18.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,996 shares of the restaurant operator’s stock after acquiring an additional 945 shares during the quarter. LMG Wealth Partners LLC’s holdings in Darden Restaurants were worth $1,307,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. increased its position in Darden Restaurants by 6.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,998,200 shares of the restaurant operator’s stock worth $830,666,000 after acquiring an additional 247,542 shares during the period. Raymond James Financial Inc. grew its stake in Darden Restaurants by 4.6% during the first quarter. Raymond James Financial Inc. now owns 3,601,340 shares of the restaurant operator’s stock worth $748,215,000 after buying an additional 157,305 shares in the last quarter. Hamlin Capital Management LLC grew its stake in Darden Restaurants by 0.5% during the second quarter. Hamlin Capital Management LLC now owns 918,387 shares of the restaurant operator’s stock worth $200,181,000 after buying an additional 4,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Darden Restaurants by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 625,449 shares of the restaurant operator’s stock worth $129,943,000 after buying an additional 37,878 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Darden Restaurants during the first quarter worth about $84,801,000. 93.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DRI. BMO Capital Markets reduced their price objective on shares of Darden Restaurants from $215.00 to $205.00 and set a “market perform” rating on the stock in a research note on Friday, September 19th. Morgan Stanley increased their price objective on shares of Darden Restaurants from $235.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Citigroup increased their price objective on shares of Darden Restaurants from $245.00 to $253.00 and gave the stock a “buy” rating in a research note on Monday, June 23rd. Bank of America increased their price objective on shares of Darden Restaurants from $253.00 to $254.00 and gave the stock a “buy” rating in a research note on Tuesday, September 16th. Finally, Melius initiated coverage on shares of Darden Restaurants in a research note on Monday, July 14th. They issued a “hold” rating and a $240.00 price target on the stock. Nineteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, Darden Restaurants currently has a consensus rating of “Moderate Buy” and a consensus price target of $225.59.

View Our Latest Stock Analysis on DRI

Insider Buying and Selling

In related news, SVP Matthew R. Broad sold 5,661 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $193.40, for a total value of $1,094,837.40. Following the completion of the transaction, the senior vice president owned 13,916 shares in the company, valued at $2,691,354.40. This trade represents a 28.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laura B. Williamson sold 1,157 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $204.70, for a total transaction of $236,837.90. Following the completion of the transaction, the insider owned 10,632 shares of the company’s stock, valued at approximately $2,176,370.40. This trade represents a 9.81% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,341 shares of company stock valued at $1,438,707. 0.49% of the stock is owned by company insiders.

Darden Restaurants Trading Up 0.4%

DRI opened at $188.16 on Monday. The company’s 50 day moving average is $199.61 and its 200-day moving average is $204.90. Darden Restaurants, Inc. has a 1-year low of $157.89 and a 1-year high of $228.27. The company has a current ratio of 0.40, a quick ratio of 0.27 and a debt-to-equity ratio of 0.96. The company has a market cap of $21.88 billion, a P/E ratio of 20.17, a PEG ratio of 1.72 and a beta of 0.77.

Darden Restaurants (NYSE:DRIGet Free Report) last posted its quarterly earnings results on Thursday, September 18th. The restaurant operator reported $1.97 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.03 billion. Darden Restaurants had a net margin of 8.90% and a return on equity of 52.35%. The company’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.75 earnings per share. Darden Restaurants has set its FY 2026 guidance at 10.500-10.700 EPS. Equities research analysts predict that Darden Restaurants, Inc. will post 9.52 earnings per share for the current fiscal year.

Darden Restaurants Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, October 10th. Darden Restaurants’s dividend payout ratio (DPR) is 64.31%.

Darden Restaurants 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.

See Also

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

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