Bank of New York Mellon Corp Sells 54,080 Shares of Darden Restaurants, Inc. $DRI

Bank of New York Mellon Corp lowered its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 5.3% in the 2nd quarter, Holdings Channel.com reports. The fund owned 975,589 shares of the restaurant operator’s stock after selling 54,080 shares during the period. Bank of New York Mellon Corp’s holdings in Darden Restaurants were worth $212,649,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in shares of 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 valued at $830,666,000 after acquiring an additional 247,542 shares during the last quarter. Raymond James Financial Inc. raised its stake in shares of 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 valued at $748,215,000 after acquiring an additional 157,305 shares during the last quarter. Hamlin Capital Management LLC raised its stake in shares of Darden Restaurants by 0.5% during the second quarter. Hamlin Capital Management LLC now owns 918,387 shares of the restaurant operator’s stock valued at $200,181,000 after acquiring an additional 4,989 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of 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 valued at $129,943,000 after acquiring an additional 37,878 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Darden Restaurants during the first quarter valued at $84,801,000. Institutional investors own 93.64% of the company’s stock.

Darden Restaurants Stock Down 0.0%

Darden Restaurants stock opened at $180.15 on Thursday. The company has a quick ratio of 0.27, a current ratio of 0.40 and a debt-to-equity ratio of 0.96. Darden Restaurants, Inc. has a 12-month low of $159.40 and a 12-month high of $228.27. The firm’s fifty day moving average is $193.54 and its 200 day moving average is $203.84. The company has a market capitalization of $20.95 billion, a PE ratio of 19.31, a PEG ratio of 1.67 and a beta of 0.77.

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

Darden Restaurants Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Friday, October 10th were given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, October 10th. Darden Restaurants’s payout ratio is presently 64.31%.

Insider Activity

In related news, SVP Matthew R. Broad sold 5,661 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $193.40, for a total transaction of $1,094,837.40. Following the transaction, the senior vice president owned 13,916 shares in the company, valued at $2,691,354.40. The trade was a 28.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. TD Cowen reaffirmed a “hold” rating and set a $235.00 price target on shares of Darden Restaurants in a research note on Thursday, September 18th. Melius began coverage on shares of Darden Restaurants in a research report on Monday, July 14th. They issued a “hold” rating and a $240.00 price target on the stock. Wells Fargo & Company dropped their price target on shares of Darden Restaurants from $225.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Friday, September 19th. BTIG Research dropped their price target on shares of Darden Restaurants from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, September 19th. Finally, Evercore ISI dropped their price target on shares of Darden Restaurants from $245.00 to $240.00 and set an “outperform” rating on the stock in a research report on Friday, September 19th. Twenty investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat.com, Darden Restaurants presently has an average rating of “Moderate Buy” and a consensus target price of $225.82.

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.