Darden Restaurants, Inc. (NYSE:DRI) Stake Boosted by Cwm LLC

Cwm LLC raised its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 20.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,509 shares of the restaurant operator’s stock after buying an additional 424 shares during the quarter. Cwm LLC’s holdings in Darden Restaurants were worth $412,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Fortitude Family Office LLC purchased a new stake in shares of Darden Restaurants in the 4th quarter valued at approximately $29,000. Hartford Financial Management Inc. raised 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 valued at $30,000 after buying an additional 71 shares during the period. Tennessee Valley Asset Management Partners purchased a new stake in Darden Restaurants in the 4th quarter worth about $33,000. McGlone Suttner Wealth Management Inc. acquired a new stake in Darden Restaurants during the 4th quarter worth about $35,000. Finally, BKM Wealth Management LLC purchased a new position in Darden Restaurants during the 4th quarter valued at about $41,000. 93.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Darden Restaurants

In related news, SVP Matthew R. Broad sold 4,707 shares of Darden Restaurants stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $156.15, for a total transaction of $734,998.05. Following the sale, the senior vice president now directly owns 19,179 shares of the company’s stock, valued at $2,994,800.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Darden Restaurants news, insider Melvin John Martin sold 7,673 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $165.52, for a total value of $1,270,034.96. Following the completion of 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 SEC, which is available at this hyperlink. Also, SVP Matthew R. Broad sold 4,707 shares of the firm’s stock in a transaction dated 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 owns 19,179 shares in the company, valued at approximately $2,994,800.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,599 shares of company stock worth $2,197,891. 0.85% of the stock is currently owned by company insiders.

Darden Restaurants Stock Down 1.5 %

DRI stock opened at $151.15 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.39 and a quick ratio of 0.25. The company has a 50-day moving average of $164.17 and a two-hundred day moving average of $159.82. The stock has a market capitalization of $18.04 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.71 and a beta of 1.25. Darden Restaurants, Inc. has a 52-week low of $133.36 and a 52-week high of $176.84.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Thursday, March 21st. The restaurant operator reported $2.62 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.01). Darden Restaurants had a return on equity of 49.94% and a net margin of 9.24%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the prior year, the firm earned $2.34 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. As a group, equities research analysts anticipate that Darden Restaurants, Inc. will post 8.85 EPS for the current year.

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

Darden Restaurants Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a $1.31 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $5.24 annualized dividend and a yield of 3.47%. Darden Restaurants’s dividend payout ratio is 61.43%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of Darden Restaurants from $160.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. Truist Financial reissued a “buy” rating and set a $190.00 target price on shares of Darden Restaurants in a research note on Friday, March 22nd. Guggenheim lifted their price objective on Darden Restaurants from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. StockNews.com lowered Darden Restaurants from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, Stifel Nicolaus lifted their price target on Darden Restaurants from $185.00 to $190.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $178.85.

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.