Cwm LLC Has $2.70 Million Holdings in Darden Restaurants, Inc. $DRI

Cwm LLC raised its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 33.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,693 shares of the restaurant operator’s stock after buying an additional 3,708 shares during the quarter. Cwm LLC’s holdings in Darden Restaurants were worth $2,704,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Adelphi Trust Co acquired a new position in Darden Restaurants in the fourth quarter valued at approximately $221,000. Virginia Wealth Management Group Inc. lifted its stake in Darden Restaurants by 1.4% in the fourth quarter. Virginia Wealth Management Group Inc. now owns 26,605 shares of the restaurant operator’s stock valued at $4,896,000 after buying an additional 371 shares during the period. Farther Finance Advisors LLC lifted its stake in Darden Restaurants by 116.7% in the fourth quarter. Farther Finance Advisors LLC now owns 3,376 shares of the restaurant operator’s stock valued at $621,000 after buying an additional 1,818 shares during the period. Tectonic Advisors LLC lifted its stake in Darden Restaurants by 23.6% in the fourth quarter. Tectonic Advisors LLC now owns 8,103 shares of the restaurant operator’s stock valued at $1,491,000 after buying an additional 1,545 shares during the period. Finally, Running Oak Capital LLC lifted its stake in Darden Restaurants by 2.1% in the fourth quarter. Running Oak Capital LLC now owns 81,132 shares of the restaurant operator’s stock valued at $14,930,000 after buying an additional 1,669 shares during the period. 93.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Darden Restaurants

In related news, SVP Lindsay L. Koren sold 300 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $194.32, for a total transaction of $58,296.00. Following the completion of the sale, the senior vice president owned 1,617 shares in the company, valued at approximately $314,215.44. This represents a 15.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Douglas J. Milanes sold 3,620 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $202.16, for a total value of $731,819.20. Following the sale, the senior vice president owned 274 shares of the company’s stock, valued at $55,391.84. This trade represents a 92.96% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Melius Research raised Darden Restaurants from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. UBS Group reissued a “buy” rating and issued a $230.00 price target on shares of Darden Restaurants in a research note on Tuesday, March 10th. Wells Fargo & Company upped their target price on Darden Restaurants from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, March 20th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Darden Restaurants in a research report on Friday, March 13th. Finally, KeyCorp upped their target price on Darden Restaurants from $225.00 to $226.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Eighteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $226.24.

Darden Restaurants Price Performance

Shares of NYSE:DRI opened at $202.44 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.39 and a debt-to-equity ratio of 1.02. Darden Restaurants, Inc. has a twelve month low of $169.00 and a twelve month high of $228.27. The stock’s 50 day moving average is $202.86 and its 200-day moving average is $194.12. The firm has a market capitalization of $23.19 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 1.89 and a beta of 0.64.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, March 19th. The restaurant operator reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.01. Darden Restaurants had a return on equity of 53.54% and a net margin of 8.66%.The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the firm earned $2.80 earnings per share. Darden Restaurants’s revenue for the quarter was up 5.9% on a year-over-year basis. Sell-side analysts forecast that Darden Restaurants, Inc. will post 10.61 EPS for the current fiscal year.

Darden Restaurants Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, April 10th. This represents a $6.00 annualized dividend and a yield of 3.0%. Darden Restaurants’s dividend payout ratio is 63.49%.

About Darden Restaurants

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.