Capital Management Associates Inc Buys 3,413 Shares of Darden Restaurants, Inc. $DRI

Capital Management Associates Inc lifted its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 93.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,058 shares of the restaurant operator’s stock after buying an additional 3,413 shares during the quarter. Capital Management Associates Inc’s holdings in Darden Restaurants were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC bought a new stake in Darden Restaurants during the 2nd quarter valued at approximately $26,000. Quent Capital LLC bought a new position in shares of Darden Restaurants in the 3rd quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Darden Restaurants by 926.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 154 shares of the restaurant operator’s stock valued at $28,000 after purchasing an additional 139 shares during the period. Ameriflex Group Inc. bought a new stake in shares of Darden Restaurants during the third quarter valued at approximately $35,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of Darden Restaurants during the third quarter valued at approximately $39,000. 93.64% of the stock is owned by institutional investors.

Insider Transactions at Darden Restaurants

In related news, SVP Susan M. Connelly sold 2,635 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $207.36, for a total value of $546,393.60. Following the transaction, the senior vice president owned 4,098 shares of the company’s stock, valued at approximately $849,761.28. This trade represents a 39.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Rajesh Vennam sold 6,774 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $214.12, for a total transaction of $1,450,448.88. Following the sale, the chief financial officer owned 9,040 shares of the company’s stock, valued at $1,935,644.80. This trade represents a 42.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 18,770 shares of company stock valued at $3,948,970. Company insiders own 0.49% of the company’s stock.

Darden Restaurants Trading Up 0.0%

Shares of DRI stock opened at $196.35 on Monday. The company has a current ratio of 0.39, a quick ratio of 0.26 and a debt-to-equity ratio of 1.02. Darden Restaurants, Inc. has a 12-month low of $169.00 and a 12-month high of $228.27. The stock has a market capitalization of $22.49 billion, a P/E ratio of 20.78, a P/E/G ratio of 1.86 and a beta of 0.64. The firm’s 50 day moving average is $205.51 and its 200 day moving average is $193.44.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Thursday, March 19th. The restaurant operator reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.01. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Darden Restaurants had a return on equity of 53.54% and a net margin of 8.66%.The company’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.80 EPS. Research analysts expect that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.

Darden Restaurants Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, April 10th. Darden Restaurants’s dividend payout ratio (DPR) is presently 63.49%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DRI shares. Weiss Ratings upgraded Darden Restaurants from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. BMO Capital Markets upped their target price on shares of Darden Restaurants from $205.00 to $220.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 6th. Bank of America increased their price target on shares of Darden Restaurants from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Citigroup lifted their price target on shares of Darden Restaurants from $235.00 to $238.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, Evercore restated an “outperform” rating on shares of Darden Restaurants in a report on Friday, December 19th. Eighteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $226.24.

Darden Restaurants Profile

Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.

Darden’s restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand’s positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.