Benjamin Edwards Inc. Acquires 147 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Benjamin Edwards Inc. raised its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 4.3% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,561 shares of the restaurant operator’s stock after acquiring an additional 147 shares during the period. Benjamin Edwards Inc.’s holdings in Darden Restaurants were worth $539,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Wealth Group LLC lifted its position in Darden Restaurants by 0.4% during the first 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 during the period. EverSource Wealth Advisors LLC raised 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 buying an additional 72 shares during the last quarter. GW Henssler & Associates Ltd. lifted its holdings in shares of 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 buying an additional 77 shares during the period. United Community Bank boosted its stake in shares of Darden Restaurants by 1.3% in the 1st quarter. United Community Bank now owns 5,918 shares of the restaurant operator’s stock worth $989,000 after buying an additional 78 shares during the last quarter. Finally, Center for Financial Planning Inc. grew its holdings in shares of Darden Restaurants by 4.0% in the first quarter. Center for Financial Planning Inc. now owns 2,051 shares of the restaurant operator’s stock worth $343,000 after acquiring an additional 79 shares during the period. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Darden Restaurants Stock Down 1.2 %

Shares of DRI stock opened at $170.17 on Friday. The company’s fifty day simple moving average is $150.34 and its two-hundred day simple moving average is $153.52. Darden Restaurants, Inc. has a 52 week low of $133.36 and a 52 week high of $176.84. The stock has a market cap of $20.31 billion, a P/E ratio of 19.97, a PEG ratio of 1.76 and a beta of 1.30. The company has a quick ratio of 0.24, a current ratio of 0.38 and a debt-to-equity ratio of 0.61.

Darden Restaurants (NYSE:DRI) last posted its earnings results on Thursday, September 19th. The restaurant operator reported $1.75 EPS for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.80 billion. Darden Restaurants had a return on equity of 49.82% and a net margin of 9.02%. Darden Restaurants’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.78 earnings per share. Analysts predict that Darden Restaurants, Inc. will post 9.47 EPS for the current fiscal year.

Darden Restaurants Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Darden Restaurants’s previous quarterly dividend of $1.29. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.29%. Darden Restaurants’s dividend payout ratio (DPR) is 65.73%.

Analysts Set New Price Targets

Several research analysts have issued reports on DRI shares. Bank of America raised their target price on Darden Restaurants from $184.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday. Piper Sandler raised their price objective on shares of Darden Restaurants from $159.00 to $177.00 and gave the stock a “neutral” rating in a report on Friday. Argus reduced their target price on shares of Darden Restaurants from $186.00 to $175.00 and set a “buy” rating for the company in a report on Tuesday, June 25th. UBS Group lifted their price target on shares of Darden Restaurants from $188.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday. Finally, BMO Capital Markets upped their price objective on Darden Restaurants from $165.00 to $175.00 and gave the stock a “market perform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.28.

Insider Activity at Darden Restaurants

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

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.