Darden Restaurants, Inc. (NYSE:DRI) Stake Lifted by S.A. Mason LLC

S.A. Mason LLC increased its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 27.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 700 shares of the restaurant operator’s stock after purchasing an additional 150 shares during the period. S.A. Mason LLC’s holdings in Darden Restaurants were worth $115,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Union Savings Bank acquired a new stake in shares of Darden Restaurants in the second quarter valued at $25,000. Quarry LP lifted its holdings in Darden Restaurants by 980.0% in the 2nd quarter. Quarry LP now owns 162 shares of the restaurant operator’s stock valued at $27,000 after acquiring an additional 147 shares during the last quarter. Fortitude Family Office LLC bought a new position in shares of Darden Restaurants during the 4th quarter valued at about $29,000. Resurgent Financial Advisors LLC acquired a new position in shares of Darden Restaurants in the 4th quarter worth approximately $29,000. Finally, Clear Street Markets LLC raised its holdings in shares of Darden Restaurants by 93.5% in the 1st quarter. Clear Street Markets LLC now owns 240 shares of the restaurant operator’s stock worth $37,000 after purchasing an additional 116 shares in 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 John W. Madonna sold 3,836 shares of Darden Restaurants 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 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 document filed with the SEC, which is accessible through this link. In related news, SVP Matthew R. Broad sold 6,831 shares of the business’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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John W. Madonna sold 3,836 shares of Darden Restaurants 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 sale, the senior vice president now directly 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 corporate insiders.

Darden Restaurants Stock Up 2.1 %

Shares of Darden Restaurants stock opened at $166.97 on Thursday. Darden Restaurants, Inc. has a 12-month low of $133.36 and a 12-month 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 stock has a 50 day moving average price of $167.10 and a two-hundred day moving average price of $157.30. The stock has a market capitalization of $19.94 billion, a P/E ratio of 19.57, a PEG ratio of 1.80 and a beta of 1.26.

Darden Restaurants (NYSE:DRI) last posted its earnings results on Thursday, March 21st. The restaurant operator reported $2.62 earnings per share (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 net margin of 9.24% and a return on equity of 49.94%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.34 earnings per share. Equities analysts expect that Darden Restaurants, Inc. will post 8.85 earnings per share for the current year.

Darden Restaurants Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $1.31 per share. 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 dividend payout ratio is presently 61.43%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DRI shares. TD Cowen reiterated an “outperform” rating and set a $190.00 price objective on shares of Darden Restaurants in a research report on Thursday, March 21st. Oppenheimer cut their price objective on Darden Restaurants from $186.00 to $182.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Morgan Stanley cut their price target on shares of Darden Restaurants from $184.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Citigroup decreased their price objective on shares of Darden Restaurants from $200.00 to $192.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Finally, JPMorgan Chase & Co. raised 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 investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company 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.