3,332 Shares in Darden Restaurants, Inc. (NYSE:DRI) Bought by Blackston Financial Advisory Group LLC

Blackston Financial Advisory Group LLC purchased a new position in shares of Darden Restaurants, Inc. (NYSE:DRI) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,332 shares of the restaurant operator’s stock, valued at approximately $547,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Union Savings Bank acquired a new stake in Darden Restaurants in the 2nd quarter valued at about $25,000. Quarry LP increased its stake in shares of Darden Restaurants by 980.0% during the 2nd quarter. Quarry LP now owns 162 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 147 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of Darden Restaurants during the 4th quarter worth approximately $29,000. Resurgent Financial Advisors LLC purchased a new stake in Darden Restaurants in the 4th quarter valued at approximately $29,000. Finally, Clear Street Markets LLC grew its holdings in Darden Restaurants by 93.5% during the 1st quarter. Clear Street Markets LLC now owns 240 shares of the restaurant operator’s stock valued at $37,000 after buying an additional 116 shares during the last quarter. 93.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Darden Restaurants

In related news, SVP John W. Madonna sold 3,836 shares of the stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $163.80, for a total value of $628,336.80. Following the completion of the transaction, the senior vice president now directly owns 6,971 shares of the company’s stock, valued at approximately $1,141,849.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Matthew R. Broad sold 6,831 shares of the firm’s 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 sale, 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 accessible through the SEC website. Also, SVP John W. Madonna sold 3,836 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $163.80, for a total transaction of $628,336.80. Following the completion of the transaction, the senior vice president now owns 6,971 shares in the company, valued at approximately $1,141,849.80. 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 DRI opened at $166.97 on Thursday. Darden Restaurants, Inc. has a 52-week low of $133.36 and a 52-week high of $176.84. The company has a quick ratio of 0.25, a current ratio of 0.39 and a debt-to-equity ratio of 0.63. The firm has a market cap of $19.94 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.77 and a beta of 1.26. The business’s 50 day moving average is $167.10 and its two-hundred day moving average is $157.30.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $3.02 billion. Darden Restaurants had a return on equity of 49.94% and a net margin of 9.24%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter last year, the business earned $2.34 earnings per share. Analysts forecast that Darden Restaurants, Inc. will post 8.85 EPS for the current fiscal year.

Darden Restaurants Dividend Announcement

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

Analysts Set New Price Targets

DRI has been the topic of several recent research reports. Stephens restated an “overweight” rating and issued a $170.00 price objective on shares of Darden Restaurants in a research report on Monday, December 18th. Evercore ISI lifted their price target on Darden Restaurants from $160.00 to $170.00 and gave the company an “in-line” rating in a report on Tuesday, December 12th. KeyCorp increased their price objective on shares of Darden Restaurants from $175.00 to $177.00 and gave the stock an “overweight” rating in a report on Wednesday, December 13th. TD Cowen reissued an “outperform” rating and set a $190.00 price objective on shares of Darden Restaurants in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. increased their target price on Darden Restaurants from $170.00 to $180.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $178.85.

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.