Darden Restaurants, Inc. (NYSE:DRI) Stock Holdings Boosted by Foundry Partners LLC

Foundry Partners LLC raised its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 37.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 85,183 shares of the restaurant operator’s stock after purchasing an additional 23,287 shares during the quarter. Foundry Partners LLC owned about 0.07% of Darden Restaurants worth $12,890,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Union Savings Bank boosted its stake in Darden Restaurants by 44.0% during the 4th quarter. Union Savings Bank now owns 216 shares of the restaurant operator’s stock valued at $35,000 after purchasing an additional 66 shares in the last quarter. Cornerstone Wealth Group LLC boosted its stake in Darden Restaurants by 0.4% during the 1st quarter. Cornerstone Wealth Group LLC now owns 16,550 shares of the restaurant operator’s stock valued at $2,766,000 after purchasing an additional 66 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Darden Restaurants by 34.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 279 shares of the restaurant operator’s stock valued at $43,000 after purchasing an additional 72 shares in the last quarter. GW Henssler & Associates Ltd. boosted its stake in Darden Restaurants by 4.9% during the 1st quarter. GW Henssler & Associates Ltd. now owns 1,640 shares of the restaurant operator’s stock valued at $274,000 after purchasing an additional 77 shares in the last quarter. Finally, United Community Bank boosted its stake in Darden Restaurants by 1.3% during the 1st quarter. United Community Bank now owns 5,918 shares of the restaurant operator’s stock valued at $989,000 after purchasing an additional 78 shares in the last quarter. 93.64% of the stock is owned by institutional investors.

Darden Restaurants Stock Up 0.7 %

Shares of NYSE:DRI traded up $1.06 during midday trading on Friday, hitting $159.00. 103,824 shares of the stock were exchanged, compared to its average volume of 1,214,496. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.24 and a current ratio of 0.38. Darden Restaurants, Inc. has a 52-week low of $133.36 and a 52-week high of $176.84. The business’s fifty day simple moving average is $147.27 and its two-hundred day simple moving average is $154.11. The company has a market capitalization of $18.98 billion, a PE ratio of 18.54, a P/E/G ratio of 1.77 and a beta of 1.30.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Thursday, June 20th. The restaurant operator reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.04. Darden Restaurants had a return on equity of 49.82% and a net margin of 9.02%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period last year, the company earned $2.58 earnings per share. Darden Restaurants’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, research analysts predict that Darden Restaurants, Inc. will post 9.48 earnings per share for the current fiscal year.

Darden Restaurants Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 11th were issued a dividend of $1.29 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $5.16 annualized dividend and a dividend yield of 3.25%. Darden Restaurants’s dividend payout ratio is 65.73%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DRI. Barclays decreased their price target on Darden Restaurants from $187.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, June 14th. Argus reduced their price objective on Darden Restaurants from $186.00 to $175.00 and set a “buy” rating for the company in a research note on Tuesday, June 25th. Raymond James reissued an “outperform” rating and set a $160.00 price objective on shares of Darden Restaurants in a research note on Tuesday, August 20th. Piper Sandler reduced their price objective on Darden Restaurants from $163.00 to $159.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Finally, KeyCorp reduced their price objective on Darden Restaurants from $177.00 to $170.00 and set an “overweight” rating for the company in a research note on Thursday, June 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $170.50.

Insider Buying and Selling

In other Darden Restaurants news, insider Melvin John Martin sold 2,500 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $141.09, for a total transaction of $352,725.00. Following the transaction, the insider now directly owns 11,691 shares in the company, valued at $1,649,483.19. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Darden Restaurants news, SVP Sarah H. King sold 15,941 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $147.06, for a total transaction of $2,344,283.46. Following the transaction, the senior vice president now directly owns 447 shares in the company, valued at $65,735.82. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Melvin John Martin sold 2,500 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $141.09, for a total value of $352,725.00. Following the transaction, the insider now owns 11,691 shares in the company, valued at $1,649,483.19. The disclosure for this sale can be found here. 0.85% of the stock is owned by corporate insiders.

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.