MetLife Investment Management LLC Has $6.88 Million Stock Holdings in Darden Restaurants, Inc. $DRI

MetLife Investment Management LLC trimmed its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,119 shares of the restaurant operator’s stock after selling 699 shares during the quarter. MetLife Investment Management LLC’s holdings in Darden Restaurants were worth $6,881,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DRI. Grove Bank & Trust increased its position in Darden Restaurants by 171.4% during the 1st quarter. Grove Bank & Trust now owns 133 shares of the restaurant operator’s stock worth $28,000 after purchasing an additional 84 shares in the last quarter. ORG Partners LLC grew its holdings in Darden Restaurants by 108.8% during the 1st quarter. ORG Partners LLC now owns 142 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 74 shares during the last quarter. Centennial Bank AR bought a new stake in Darden Restaurants during the 1st quarter worth approximately $31,000. Alpine Bank Wealth Management bought a new stake in Darden Restaurants during the 1st quarter worth approximately $34,000. Finally, SouthState Corp bought a new stake in Darden Restaurants during the 1st quarter worth approximately $36,000. 93.64% of the stock is currently owned by institutional investors and hedge funds.

Darden Restaurants Trading Up 0.3%

NYSE:DRI opened at $206.54 on Thursday. The firm’s fifty day moving average is $210.03 and its 200-day moving average is $204.59. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.28 and a current ratio of 0.42. Darden Restaurants, Inc. has a 52 week low of $153.98 and a 52 week high of $228.27. The firm has a market cap of $24.08 billion, a P/E ratio of 23.26, a P/E/G ratio of 1.90 and a beta of 0.75.

Darden Restaurants (NYSE:DRI) last released its earnings results on Friday, June 20th. The restaurant operator reported $2.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.01. Darden Restaurants had a net margin of 8.69% and a return on equity of 51.81%. The company had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same quarter in the previous year, the company earned $2.65 EPS. Darden Restaurants’s quarterly revenue was up 10.6% compared to the same quarter last year. Darden Restaurants has set its FY 2026 guidance at 10.500-10.700 EPS. Equities analysts expect that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.

Darden Restaurants declared that its board has initiated a share buyback plan on Friday, June 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the restaurant operator to buy up to 3.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Darden Restaurants Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Thursday, July 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 2.9%. The ex-dividend date was Thursday, July 10th. This is a boost from Darden Restaurants’s previous quarterly dividend of $1.40. Darden Restaurants’s dividend payout ratio is presently 67.57%.

Insider Activity at Darden Restaurants

In related news, SVP Douglas J. Milanes sold 11,948 shares of the business’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $222.08, for a total transaction of $2,653,411.84. Following the transaction, the senior vice president owned 147 shares in the company, valued at $32,645.76. The trade was a 98.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd Burrowes sold 13,569 shares of the business’s stock in a transaction on Monday, June 30th. The shares were sold at an average price of $216.45, for a total transaction of $2,937,010.05. Following the transaction, the insider owned 46,327 shares in the company, valued at $10,027,479.15. The trade was a 22.65% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,727 shares of company stock worth $10,022,232 over the last ninety days. 0.49% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on DRI shares. Robert W. Baird boosted their target price on shares of Darden Restaurants from $218.00 to $230.00 and gave the stock a “neutral” rating in a report on Monday, June 23rd. BMO Capital Markets boosted their target price on shares of Darden Restaurants from $190.00 to $215.00 and gave the stock a “market perform” rating in a report on Wednesday, June 25th. Melius Research raised shares of Darden Restaurants to a “hold” rating in a report on Monday, July 14th. Oppenheimer boosted their target price on shares of Darden Restaurants from $230.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, June 18th. Finally, UBS Group upped their price objective on shares of Darden Restaurants from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, June 16th. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $225.19.

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.