2,056 Shares in Darden Restaurants, Inc. $DRI Acquired by GC Wealth Management RIA LLC

Key Points

• GC Wealth Management RIA LLC acquired 2,056 shares of Darden Restaurants, Inc. valued at approximately $448,000 in the 2nd quarter.
• Darden Restaurants reported a missed earnings estimate of $1.97 EPS, compared to the consensus estimate of $2.01, with revenue for the quarter reaching $3.04 billion.
• The company announced a quarterly dividend of $1.50 per share, resulting in an annualized yield of 3.2%, with the dividend payout ratio currently at 64.31%.

GC Wealth Management RIA LLC bought a new position in shares of Darden Restaurants, Inc. (NYSE:DRI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 2,056 shares of the restaurant operator's stock, valued at approximately $448,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Darden Restaurants by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,998,200 shares of the restaurant operator's stock worth $830,666,000 after buying an additional 247,542 shares during the period. Raymond James Financial Inc. lifted its position in shares of Darden Restaurants by 4.6% during the 1st quarter. Raymond James Financial Inc. now owns 3,601,340 shares of the restaurant operator's stock worth $748,215,000 after buying an additional 157,305 shares during the period. Hamlin Capital Management LLC lifted its position in shares of Darden Restaurants by 17.6% during the 1st quarter. Hamlin Capital Management LLC now owns 913,398 shares of the restaurant operator's stock worth $189,768,000 after buying an additional 136,382 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Darden Restaurants by 6.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 625,449 shares of the restaurant operator's stock valued at $129,943,000 after purchasing an additional 37,878 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Darden Restaurants during the 1st quarter valued at $84,801,000. Institutional investors own 93.64% of the company's stock.

Insider Activity

In other news, insider Laura B. Williamson sold 1,157 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $204.70, for a total value of $236,837.90. Following the transaction, the insider directly owned 10,632 shares in the company, valued at $2,176,370.40. This trade represents a 9.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last 90 days, insiders sold 2,013 shares of company stock valued at $412,738. 0.49% of the stock is owned by company insiders.

Darden Restaurants Stock Down 1.4%

NYSE DRI opened at $190.36 on Wednesday. The stock has a fifty day moving average of $203.56 and a 200-day moving average of $206.06. The stock has a market capitalization of $22.14 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.77 and a beta of 0.71. Darden Restaurants, Inc. has a 52 week low of $155.18 and a 52 week high of $228.27. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.27 and a current ratio of 0.40.

Darden Restaurants (NYSE:DRI - Get Free Report) last posted its quarterly earnings results on Thursday, September 18th. The restaurant operator reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.04). Darden Restaurants had a return on equity of 52.35% and a net margin of 8.90%.The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the business earned $1.75 earnings per share. The firm's revenue for the quarter was up 10.4% on a year-over-year basis. Darden Restaurants has set its FY 2026 guidance at 10.500-10.700 EPS. On average, equities research analysts forecast that Darden Restaurants, Inc. will post 9.52 EPS for the current year.

Darden Restaurants declared that its board has initiated a stock buyback program on Friday, June 20th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase programs are generally 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 will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, October 10th. Darden Restaurants's dividend payout ratio (DPR) is currently 64.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DRI shares. BTIG Research dropped their price target on Darden Restaurants from $235.00 to $225.00 and set a "buy" rating for the company in a report on Friday, September 19th. Truist Financial dropped their price target on Darden Restaurants from $252.00 to $240.00 and set a "buy" rating for the company in a report on Friday, September 19th. TD Cowen reaffirmed a "hold" rating and set a $235.00 price target on shares of Darden Restaurants in a report on Thursday, September 18th. Citigroup raised their price target on Darden Restaurants from $245.00 to $253.00 and gave the company a "buy" rating in a report on Monday, June 23rd. Finally, BMO Capital Markets dropped their price target on Darden Restaurants from $215.00 to $205.00 and set a "market perform" rating for the company in a report on Friday, September 19th. Eighteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.96.

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.

Want to see what other hedge funds are holding DRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darden Restaurants, Inc. (NYSE:DRI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.