Darden Restaurants, Inc. (NYSE:DRI) Stock Holdings Decreased by Belpointe Asset Management LLC

Belpointe Asset Management LLC trimmed its stake in Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 50.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,940 shares of the restaurant operator's stock after selling 2,000 shares during the quarter. Belpointe Asset Management LLC's holdings in Darden Restaurants were worth $362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of DRI. Kestra Investment Management LLC acquired a new stake in shares of Darden Restaurants in the fourth quarter worth $25,000. Compass Wealth Management LLC acquired a new position in shares of Darden Restaurants during the 4th quarter worth about $28,000. TCTC Holdings LLC acquired a new stake in Darden Restaurants in the 4th quarter valued at approximately $28,000. MCF Advisors LLC boosted its position in shares of Darden Restaurants by 50.9% in the fourth quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator's stock valued at $33,000 after acquiring an additional 59 shares during the period. Finally, HHM Wealth Advisors LLC grew its stake in shares of Darden Restaurants by 103.2% in the fourth quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator's stock worth $47,000 after acquiring an additional 129 shares during the last quarter. 93.64% of the stock is owned by institutional investors and hedge funds.

Darden Restaurants Trading Up 1.6 %

Shares of DRI traded up $3.13 during midday trading on Tuesday, hitting $200.20. 105,811 shares of the stock were exchanged, compared to its average volume of 1,257,105. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.23 and a current ratio of 0.37. The firm has a market cap of $23.43 billion, a P/E ratio of 22.93, a P/E/G ratio of 2.15 and a beta of 0.93. The stock has a fifty day simple moving average of $196.13 and a 200 day simple moving average of $182.61. Darden Restaurants, Inc. has a 52-week low of $135.87 and a 52-week high of $211.00.

Darden Restaurants (NYSE:DRI - Get Free Report) last announced its quarterly earnings results on Thursday, March 20th. The restaurant operator reported $2.80 EPS for the quarter, meeting the consensus estimate of $2.80. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.22 billion. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. The firm's revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.60 earnings per share. On average, research analysts anticipate that Darden Restaurants, Inc. will post 9.52 EPS for the current fiscal year.

Darden Restaurants Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Thursday, April 10th. Darden Restaurants's dividend payout ratio (DPR) is 63.13%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their target price on Darden Restaurants from $209.00 to $217.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. KeyCorp increased their target price on shares of Darden Restaurants from $200.00 to $220.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Citigroup upped their price objective on Darden Restaurants from $223.00 to $229.00 and gave the company a "buy" rating in a research note on Friday, March 21st. UBS Group lifted their target price on shares of Darden Restaurants from $210.00 to $225.00 and gave the stock a "buy" rating in a report on Friday, March 21st. Finally, Bank of America raised their price target on shares of Darden Restaurants from $230.00 to $238.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, Darden Restaurants presently has a consensus rating of "Moderate Buy" and an average price target of $201.38.

Insider Activity at Darden Restaurants

In other Darden Restaurants news, insider Laura B. Williamson sold 2,289 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $207.26, for a total transaction of $474,418.14. Following the completion of the sale, the insider now owns 10,056 shares in the company, valued at $2,084,206.56. This trade represents a 18.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ricardo Cardenas sold 20,518 shares of the company's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $208.19, for a total value of $4,271,642.42. Following the sale, the chief executive officer now owns 58,836 shares in the company, valued at $12,249,066.84. The trade was a 25.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 32,505 shares of company stock worth $6,667,929. 0.58% of the stock is owned by company insiders.

Darden Restaurants Company Profile

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.