Darden Restaurants, Inc. (NYSE:DRI) Shares Acquired by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. lifted its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,521 shares of the restaurant operator’s stock after buying an additional 607 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Darden Restaurants were worth $2,879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fortitude Family Office LLC acquired a new position in shares of Darden Restaurants during the 4th quarter worth approximately $29,000. Hartford Financial Management Inc. lifted its position in Darden Restaurants by 65.1% during the fourth quarter. Hartford Financial Management Inc. now owns 180 shares of the restaurant operator’s stock worth $30,000 after buying an additional 71 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new position in Darden Restaurants during the fourth quarter worth $33,000. McGlone Suttner Wealth Management Inc. purchased a new stake in Darden Restaurants in the 4th quarter valued at $35,000. Finally, BKM Wealth Management LLC acquired a new stake in shares of Darden Restaurants in the 4th quarter worth $41,000. 93.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on DRI shares. Stephens initiated coverage on shares of Darden Restaurants in a report on Friday, April 12th. They issued an “equal weight” rating and a $170.00 price objective for the company. TD Cowen restated a “buy” rating and set a $190.00 price target on shares of Darden Restaurants in a report on Monday, April 22nd. JPMorgan Chase & Co. lifted their price target on shares of Darden Restaurants from $170.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Wedbush cut their target price on Darden Restaurants from $187.00 to $181.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Morgan Stanley decreased their price target on Darden Restaurants from $184.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.85.

Darden Restaurants Stock Up 0.9 %

Shares of NYSE DRI traded up $1.39 during mid-day trading on Friday, hitting $149.25. The company had a trading volume of 1,864,340 shares, compared to its average volume of 1,238,608. The company has a market capitalization of $17.81 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 1.64 and a beta of 1.27. The business’s 50-day simple moving average is $163.05 and its 200 day simple moving average is $159.75. Darden Restaurants, Inc. has a 1-year low of $133.36 and a 1-year high of $176.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.39 and a quick ratio of 0.25.

Darden Restaurants (NYSE:DRI) last posted its quarterly 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). Darden Restaurants had a net margin of 9.24% and a return on equity of 49.94%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the business earned $2.34 EPS. Darden Restaurants’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts predict 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 was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were issued a $1.31 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.51%. Darden Restaurants’s payout ratio is 61.43%.

Darden Restaurants announced that its board has authorized a stock buyback plan on Thursday, March 21st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the restaurant operator to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Darden Restaurants

In other Darden Restaurants news, insider Melvin John Martin sold 7,673 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $165.52, for a total value of $1,270,034.96. Following the sale, the insider now directly owns 17,208 shares in the company, valued at $2,848,268.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Melvin John Martin sold 7,673 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 17,208 shares of the company’s stock, valued at approximately $2,848,268.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Matthew R. Broad sold 4,707 shares of the company’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 value of $734,998.05. Following the completion of the transaction, the senior vice president now directly owns 19,179 shares of the company’s stock, valued at $2,994,800.85. The disclosure for this sale can be found here. In the last three months, insiders sold 13,599 shares of company stock valued at $2,197,891. Insiders own 0.85% of the company’s stock.

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.