Wells Fargo & Company MN Sells 21,228 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Wells Fargo & Company MN reduced its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 4.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 438,586 shares of the restaurant operator’s stock after selling 21,228 shares during the period. Wells Fargo & Company MN’s holdings in Darden Restaurants were worth $81,880,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Kestra Investment Management LLC bought a new position in Darden Restaurants during the fourth quarter valued at $25,000. Compass Wealth Management LLC bought a new position in shares of Darden Restaurants during the 4th quarter worth $28,000. TCTC Holdings LLC purchased a new stake in Darden Restaurants in the 4th quarter worth about $28,000. MCF Advisors LLC raised its stake in Darden Restaurants by 50.9% in the 4th quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator’s stock valued at $33,000 after acquiring an additional 59 shares during the period. Finally, HHM Wealth Advisors LLC lifted its holdings in Darden Restaurants by 103.2% during the fourth quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator’s stock valued at $47,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Darden Restaurants Trading Down 2.1 %

Shares of DRI stock opened at $188.31 on Tuesday. The firm has a market cap of $22.06 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 2.15 and a beta of 0.93. The company has a quick ratio of 0.23, a current ratio of 0.37 and a debt-to-equity ratio of 1.02. Darden Restaurants, Inc. has a 12-month low of $135.87 and a 12-month high of $211.00. The business has a 50-day moving average price of $196.39 and a two-hundred day moving average price of $180.29.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Thursday, March 20th. The restaurant operator reported $2.80 earnings per share for the quarter, hitting the consensus estimate of $2.80. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.22 billion. During the same period in the previous year, the firm posted $2.60 earnings per share. The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts anticipate that Darden Restaurants, Inc. will post 9.52 EPS for the current fiscal year.

Darden Restaurants Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Thursday, April 10th. Darden Restaurants’s dividend payout ratio (DPR) is presently 63.13%.

Insider Transactions at Darden Restaurants

In related news, SVP Douglas J. Milanes sold 7,892 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $195.95, for a total value of $1,546,437.40. Following the sale, the senior vice president now directly owns 3,914 shares of the company’s stock, valued at $766,948.30. This trade represents a 66.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Todd Burrowes sold 15,783 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $183.03, for a total value of $2,888,762.49. Following the transaction, the insider now directly owns 46,288 shares of the company’s stock, valued at $8,472,092.64. The trade was a 25.43 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,047 shares of company stock worth $11,947,346. Insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DRI shares. Guggenheim lifted their target price on shares of Darden Restaurants from $205.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, March 24th. Stephens boosted their target price on shares of Darden Restaurants from $175.00 to $178.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. Morgan Stanley increased their target price on Darden Restaurants from $209.00 to $217.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Raymond James boosted their price objective on Darden Restaurants from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Robert W. Baird cut their target price on Darden Restaurants from $210.00 to $192.00 and set a “neutral” rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $201.38.

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.