J.W. Cole Advisors Inc. Acquires 147 Shares of Darden Restaurants, Inc. (NYSE:DRI)

J.W. Cole Advisors Inc. raised its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,948 shares of the restaurant operator’s stock after acquiring an additional 147 shares during the period. J.W. Cole Advisors Inc.’s holdings in Darden Restaurants were worth $320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DRI. Fortitude Family Office LLC bought a new position in Darden Restaurants in the fourth quarter valued at about $29,000. Hartford Financial Management Inc. grew its holdings in shares of 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 purchasing an additional 71 shares during the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of Darden Restaurants during the fourth quarter worth about $33,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Darden Restaurants during the fourth quarter worth about $35,000. Finally, Ancora Advisors LLC grew its holdings in shares of Darden Restaurants by 324.2% during the third quarter. Ancora Advisors LLC now owns 280 shares of the restaurant operator’s stock worth $40,000 after purchasing an additional 214 shares during the last quarter. Institutional investors own 93.64% of the company’s stock.

Insider Transactions at Darden Restaurants

In other news, Director William S. Simon sold 1,219 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $158.21, for a total transaction of $192,857.99. Following the transaction, the director now directly owns 6,281 shares of the company’s stock, valued at $993,717.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Melvin John Martin sold 7,673 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 17,208 shares of the company’s stock, valued at $2,848,268.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William S. Simon sold 1,219 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $158.21, for a total value of $192,857.99. Following the sale, the director now owns 6,281 shares of the company’s stock, valued at approximately $993,717.01. The disclosure for this sale can be found here. Insiders have sold 15,723 shares of company stock valued at $2,578,122 over the last ninety days. 0.85% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. BMO Capital Markets boosted their price target on Darden Restaurants from $160.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Morgan Stanley reduced their price target on Darden Restaurants from $184.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Citigroup cut their price objective on Darden Restaurants from $200.00 to $192.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Stephens began coverage on Darden Restaurants in a research note on Friday, April 12th. They issued an “equal weight” rating and a $170.00 price objective on the stock. Finally, Guggenheim lifted their price objective on Darden Restaurants from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $178.85.

Darden Restaurants Price Performance

Shares of DRI opened at $156.61 on Thursday. Darden Restaurants, Inc. has a 52-week low of $133.36 and a 52-week high of $176.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.25 and a current ratio of 0.39. The business’s 50 day moving average price is $164.79 and its two-hundred day moving average price is $159.12. The firm has a market cap of $18.69 billion, a PE ratio of 18.36, a price-to-earnings-growth ratio of 1.70 and a beta of 1.25.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, March 21st. The restaurant operator reported $2.62 earnings per share 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 analyst estimates of $3.02 billion. During the same period in the previous year, the company earned $2.34 earnings per share. Darden Restaurants’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts anticipate that Darden Restaurants, Inc. will post 8.85 EPS for the current year.

Darden Restaurants announced that its Board of Directors has initiated a stock buyback program on Thursday, March 21st that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the restaurant operator to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Darden Restaurants Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend is Tuesday, April 9th. Darden Restaurants’s payout ratio is 61.43%.

About Darden Restaurants

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.