3,257 Shares in Darden Restaurants, Inc. (NYSE:DRI) Acquired by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC purchased a new stake in shares of Darden Restaurants, Inc. (NYSE:DRI) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 3,257 shares of the restaurant operator’s stock, valued at approximately $535,000.

Several other hedge funds also recently modified their holdings of DRI. Union Savings Bank bought a new position in Darden Restaurants during the second quarter valued at about $25,000. Quarry LP grew its stake in shares of Darden Restaurants by 980.0% in the 2nd quarter. Quarry LP now owns 162 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 147 shares during the last quarter. Fortitude Family Office LLC acquired a new position in shares of Darden Restaurants in the 4th quarter worth approximately $29,000. Resurgent Financial Advisors LLC bought a new stake in shares of Darden Restaurants in the 4th quarter worth approximately $29,000. Finally, Clear Street Markets LLC lifted its stake in Darden Restaurants by 93.5% during the first quarter. Clear Street Markets LLC now owns 240 shares of the restaurant operator’s stock valued at $37,000 after purchasing an additional 116 shares during the last quarter. 93.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Darden Restaurants

In other Darden Restaurants news, SVP Matthew R. Broad sold 6,831 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $163.26, for a total transaction of $1,115,229.06. Following the transaction, the senior vice president now directly owns 19,141 shares in the company, valued at $3,124,959.66. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Darden Restaurants news, SVP John W. Madonna sold 3,836 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $163.80, for a total transaction of $628,336.80. Following the completion of the sale, the senior vice president now owns 6,971 shares of the company’s stock, valued at $1,141,849.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew R. Broad sold 6,831 shares of Darden Restaurants stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 19,141 shares in the company, valued at approximately $3,124,959.66. The disclosure for this sale can be found here. 0.85% of the stock is owned by company insiders.

Darden Restaurants Stock Performance

Shares of NYSE DRI opened at $166.97 on Thursday. Darden Restaurants, Inc. has a one year low of $133.36 and a one year high of $176.84. The business’s 50-day moving average price is $167.10 and its two-hundred day moving average price is $157.30. 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 company has a market capitalization of $19.94 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 1.77 and a beta of 1.26.

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

Darden Restaurants Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $1.31 per share. The ex-dividend date is Tuesday, April 9th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.14%. Darden Restaurants’s dividend payout ratio is currently 61.43%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on DRI shares. KeyCorp upped their price target on Darden Restaurants from $175.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Citigroup cut their target price on Darden Restaurants from $200.00 to $192.00 and set a “buy” rating on the stock in a research report on Friday, March 22nd. Bank of America increased their price target on Darden Restaurants from $193.00 to $198.00 and gave the company a “buy” rating in a research report on Monday, March 18th. TD Cowen restated an “outperform” rating and set a $190.00 price objective on shares of Darden Restaurants in a report on Thursday, March 21st. Finally, Truist Financial reiterated a “buy” rating and issued a $190.00 target price on shares of Darden Restaurants in a report on Friday, March 22nd. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $178.85.

Darden Restaurants Company 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.