Integrated Advisors Network LLC Sells 97 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Integrated Advisors Network LLC cut its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 5.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,742 shares of the restaurant operator’s stock after selling 97 shares during the period. Integrated Advisors Network LLC’s holdings in Darden Restaurants were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DRI. Fortitude Family Office LLC bought a new position in Darden Restaurants during the fourth quarter worth about $29,000. Hartford Financial Management Inc. raised its stake in shares of 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 acquired a new stake in shares of Darden Restaurants in the 4th quarter valued at about $33,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Darden Restaurants in the 4th quarter valued at about $35,000. Finally, Union Savings Bank raised its stake in shares of Darden Restaurants by 44.0% in 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 during the period. 93.64% of the stock is currently owned by institutional investors.

Insider Activity at Darden Restaurants

In related news, SVP Matthew R. Broad sold 4,707 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $156.15, for a total value of $734,998.05. Following the completion of the sale, the senior vice president now directly owns 19,179 shares in the company, valued at $2,994,800.85. The sale was disclosed in a filing with the SEC, which is available at this link. In other Darden Restaurants news, insider Melvin John Martin sold 7,673 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 17,208 shares in the company, valued at $2,848,268.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Matthew R. Broad sold 4,707 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $156.15, for a total transaction of $734,998.05. Following the transaction, the senior vice president now owns 19,179 shares of the company’s stock, valued at $2,994,800.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 13,599 shares of company stock worth $2,197,891. Company insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Morgan Stanley dropped their price target on Darden Restaurants from $180.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Stephens dropped their price target on Darden Restaurants from $170.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Friday, June 14th. Wedbush lowered their target price on Darden Restaurants from $181.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 11th. BTIG Research raised Darden Restaurants from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a research report on Friday, May 17th. Finally, Oppenheimer lowered their target price on Darden Restaurants from $186.00 to $182.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $173.81.

Darden Restaurants Trading Down 1.0 %

Shares of NYSE:DRI opened at $152.07 on Wednesday. Darden Restaurants, Inc. has a 12-month low of $133.36 and a 12-month high of $176.84. The stock has a market cap of $18.15 billion, a PE ratio of 18.13, a P/E/G ratio of 1.57 and a beta of 1.29. The business has a 50 day moving average of $150.91 and a 200-day moving average of $159.84. The company has a quick ratio of 0.25, a current ratio of 0.39 and a debt-to-equity ratio of 0.63.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data 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). Darden Restaurants had a return on equity of 49.94% and a net margin of 9.24%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter in the prior year, the firm earned $2.34 EPS. The company’s revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts forecast that Darden Restaurants, Inc. will post 8.85 earnings per share for the current year.

Darden Restaurants declared that its Board of Directors has approved a stock repurchase plan on Thursday, March 21st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the restaurant operator to repurchase up to 5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Darden Restaurants Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a $1.31 dividend. This represents a $5.24 annualized dividend and a dividend yield of 3.45%. The ex-dividend date was Tuesday, April 9th. Darden Restaurants’s dividend payout ratio (DPR) is currently 61.43%.

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.