Whittier Trust Co. of Nevada Inc. Has $235,000 Stock Position in Darden Restaurants, Inc. (NYSE:DRI)

Whittier Trust Co. of Nevada Inc. reduced its holdings in Darden Restaurants, Inc. (NYSE:DRIFree Report) by 29.1% in the 4th quarter, HoldingsChannel reports. The fund owned 1,433 shares of the restaurant operator’s stock after selling 587 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Darden Restaurants were worth $235,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Darden Restaurants by 7.2% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,338 shares of the restaurant operator’s stock valued at $478,000 after purchasing an additional 224 shares during the last quarter. American Century Companies Inc. boosted its stake in Darden Restaurants by 21.1% during the third quarter. American Century Companies Inc. now owns 197,738 shares of the restaurant operator’s stock worth $28,320,000 after acquiring an additional 34,478 shares in the last quarter. Wellington Management Group LLP boosted its stake in Darden Restaurants by 0.6% during the third quarter. Wellington Management Group LLP now owns 1,639,513 shares of the restaurant operator’s stock worth $234,811,000 after acquiring an additional 9,232 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new position in Darden Restaurants during the fourth quarter worth $45,321,000. Finally, Amalgamated Bank boosted its stake in Darden Restaurants by 17.2% during the third quarter. Amalgamated Bank now owns 36,841 shares of the restaurant operator’s stock worth $5,276,000 after acquiring an additional 5,412 shares in the last quarter. 94.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Darden Restaurants

In other news, SVP John W. Madonna sold 3,836 shares of the firm’s stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $163.80, for a total transaction of $628,336.80. Following the sale, the senior vice president now owns 6,971 shares of the company’s stock, valued at approximately $1,141,849.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP John W. Madonna sold 3,836 shares of the stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $163.80, for a total value of $628,336.80. Following the transaction, the senior vice president now owns 6,971 shares in the company, valued at approximately $1,141,849.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Matthew R. Broad sold 6,831 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $163.26, for a total transaction of $1,115,229.06. Following the sale, the senior vice president now owns 19,141 shares in the company, valued at approximately $3,124,959.66. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.

Darden Restaurants Price Performance

DRI stock opened at $165.11 on Friday. The firm has a 50 day moving average of $166.68 and a 200-day moving average of $156.99. The company has a current ratio of 0.39, a quick ratio of 0.23 and a debt-to-equity ratio of 0.63. Darden Restaurants, Inc. has a 12 month low of $133.36 and a 12 month high of $176.84. The firm has a market capitalization of $19.72 billion, a P/E ratio of 19.36, a price-to-earnings-growth ratio of 1.76 and a beta of 1.26.

Darden Restaurants (NYSE:DRIGet Free Report) last released 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). The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.02 billion. Darden Restaurants had a net margin of 9.24% and a return on equity of 49.94%. Darden Restaurants’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.34 earnings per share. As a group, sell-side analysts predict that Darden Restaurants, Inc. will post 8.86 earnings per share for the current fiscal year.

Darden Restaurants Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 3.17%. The ex-dividend date of this dividend is Tuesday, April 9th. Darden Restaurants’s dividend payout ratio (DPR) is 61.43%.

Analysts Set New Price Targets

DRI has been the topic of several research reports. Truist Financial restated a “buy” rating and set a $190.00 price objective on shares of Darden Restaurants in a report on Friday. Wedbush lowered their price objective on shares of Darden Restaurants from $187.00 to $181.00 and set an “outperform” rating on the stock in a report on Friday. StockNews.com downgraded shares of Darden Restaurants from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Bank of America increased their target price on shares of Darden Restaurants from $193.00 to $198.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Barclays increased their target price on shares of Darden Restaurants from $180.00 to $187.00 and gave the company an “overweight” rating in a report on Wednesday, January 3rd. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $178.19.

Check Out Our Latest Analysis on DRI

Darden Restaurants Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

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