Signaturefd LLC Acquires 518 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Signaturefd LLC raised its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 23.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 2,703 shares of the restaurant operator’s stock after purchasing an additional 518 shares during the quarter. Signaturefd LLC’s holdings in Darden Restaurants were worth $444,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of DRI. Fortitude Family Office LLC bought a new stake in Darden Restaurants in the 4th quarter valued at about $29,000. Hartford Financial Management Inc. boosted its holdings in Darden Restaurants by 65.1% in the 4th quarter. Hartford Financial Management Inc. now owns 180 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 71 shares during the period. Tennessee Valley Asset Management Partners bought a new stake in Darden Restaurants in the 4th quarter valued at about $33,000. McGlone Suttner Wealth Management Inc. bought a new stake in Darden Restaurants in the 4th quarter valued at about $35,000. Finally, Ancora Advisors LLC boosted its holdings in Darden Restaurants by 324.2% in the 3rd quarter. Ancora Advisors LLC now owns 280 shares of the restaurant operator’s stock valued at $40,000 after purchasing an additional 214 shares during the period. Institutional investors own 93.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. BMO Capital Markets upped their price target on shares of Darden Restaurants from $160.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Truist Financial reaffirmed a “buy” rating and set a $190.00 price target on shares of Darden Restaurants in a report on Friday, March 22nd. Citigroup cut their price target on shares of Darden Restaurants from $200.00 to $192.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Bank of America upped their price target on shares of Darden Restaurants from $193.00 to $198.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Morgan Stanley lowered their price objective on shares of Darden Restaurants from $184.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $178.85.

Insider Activity

In related news, insider Melvin John Martin sold 7,673 shares of the stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $165.52, for a total transaction of $1,270,034.96. Following the transaction, the insider now directly owns 17,208 shares of the company’s stock, valued at $2,848,268.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director William S. Simon sold 1,219 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $158.21, for a total transaction of $192,857.99. Following the transaction, the director now directly owns 6,281 shares of the company’s stock, valued at $993,717.01. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Melvin John Martin sold 7,673 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $165.52, for a total transaction of $1,270,034.96. Following the transaction, the insider now directly owns 17,208 shares in the company, valued at $2,848,268.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,723 shares of company stock valued at $2,578,122. 0.85% of the stock is currently owned by insiders.

Darden Restaurants Trading Up 0.5 %

NYSE:DRI opened at $156.61 on Thursday. The firm’s fifty day moving average is $164.79 and its 200-day moving average is $159.12. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.25 and a current ratio of 0.39. Darden Restaurants, Inc. has a 52 week low of $133.36 and a 52 week high of $176.84. The firm has a market cap of $18.69 billion, a P/E ratio of 18.36, a P/E/G ratio of 1.70 and a beta of 1.25.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, March 21st. The restaurant operator reported $2.62 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.01). Darden Restaurants had a net margin of 9.24% and a return on equity of 49.94%. The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the company posted $2.34 earnings per share. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts expect that Darden Restaurants, Inc. will post 8.85 earnings per share for the current year.

Darden Restaurants Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, April 9th. Darden Restaurants’s dividend payout ratio is currently 61.43%.

Darden Restaurants declared that its Board of Directors has initiated a stock buyback program on Thursday, March 21st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the restaurant operator to purchase up to 5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

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.