22,081 Darden Restaurants, Inc. $DRI Shares Purchased by Bokf Na

Key Points

• Bokf Na increased its Darden Restaurants stake by 319.3% in the third quarter, purchasing 22,081 additional shares and bringing its holdings to 28,996 shares valued at approximately $5.6 million.
• Darden reported quarterly earnings of $2.05 per share, matching analyst expectations, while revenue rose 5.1% year over year to $3.20 billion. The company also declared a quarterly dividend of $1.62 per share, representing a 2.9% annualized yield.
• Analysts maintain a generally positive outlook, with 16 Buy ratings and nine Holds; the stock has a “Moderate Buy” consensus rating and an average price target of $232.82.

Bokf Na grew its stake in Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 319.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,996 shares of the restaurant operator's stock after purchasing an additional 22,081 shares during the quarter. Bokf Na's holdings in Darden Restaurants were worth $5,603,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Nicholas Investment Partners LP purchased a new position in Darden Restaurants during the second quarter worth about $923,000. Empowered Funds LLC bought a new stake in Darden Restaurants in the 2nd quarter worth about $3,313,000. Tidal Investments LLC grew its position in Darden Restaurants by 34.9% in the 2nd quarter. Tidal Investments LLC now owns 26,408 shares of the restaurant operator's stock worth $5,440,000 after purchasing an additional 6,830 shares in the last quarter. Corient Private Wealth LP purchased a new stake in Darden Restaurants in the 2nd quarter valued at about $5,754,000. Finally, United Capital Financial Advisors LLC purchased a new stake in Darden Restaurants in the 2nd quarter valued at about $3,280,000. Hedge funds and other institutional investors own 93.64% of the company's stock.

Darden Restaurants Trading Up 1.8%

NYSE:DRI opened at $220.42 on Friday. The company has a current ratio of 0.30, a quick ratio of 0.20 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $24.94 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 2.03 and a beta of 0.63. The firm's 50 day moving average is $210.56 and its 200 day moving average is $205.82. Darden Restaurants, Inc. has a 12 month low of $169.00 and a 12 month high of $229.76.

Darden Restaurants (NYSE:DRI - Get Free Report) last posted its quarterly earnings data on Thursday, September 24th. The restaurant operator reported $2.05 EPS for the quarter, meeting the consensus estimate of $2.05. Darden Restaurants had a return on equity of 58.64% and a net margin of 8.85%. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.21 billion. During the same quarter in the prior year, the business earned $1.97 earnings per share. Darden Restaurants's revenue for the quarter was up 5.1% on a year-over-year basis. Darden Restaurants has set its FY 2027 guidance at 11.100-11.350 EPS. Sell-side analysts expect that Darden Restaurants, Inc. will post 11.24 earnings per share for the current year.

Darden Restaurants Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be given a dividend of $1.62 per share. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, October 9th. Darden Restaurants's dividend payout ratio is currently 63.34%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Guggenheim reissued a "buy" rating and set a $235.00 target price on shares of Darden Restaurants in a research report on Friday, September 25th. Sanford C. Bernstein reaffirmed an "outperform" rating and issued a $230.00 target price on shares of Darden Restaurants in a report on Friday, September 25th. Mizuho increased their price target on Darden Restaurants from $235.00 to $245.00 and gave the company an "outperform" rating in a research report on Friday, September 25th. BMO Capital Markets decreased their price target on Darden Restaurants from $225.00 to $220.00 and set a "market perform" rating for the company in a research report on Friday, September 25th. Finally, Robert W. Baird upgraded Darden Restaurants from a "neutral" rating to an "outperform" rating and lifted their price target for the stock from $220.00 to $250.00 in a report on Monday, August 24th. Sixteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, Darden Restaurants presently has an average rating of "Moderate Buy" and an average price target of $232.82.

Insider Buying and Selling at Darden Restaurants

In other news, insider John Wilkerson sold 8,864 shares of the stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $208.33, for a total transaction of $1,846,637.12. Following the completion of the transaction, the insider owned 18,794 shares in the company, valued at approximately $3,915,354.02. This represents a 32.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.67% of the company's stock.

Darden Restaurants Profile

Darden Restaurants, Inc is a full-service restaurant company that owns and operates a portfolio of dining brands in the United States. Its restaurants offer a range of cuisines and dining formats, including Italian-American, steakhouse, seafood, casual dining and polished casual concepts.

The company's portfolio includes Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, Ruth's Chris Steak House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V's. These brands serve meals prepared for on-premises dining, as well as takeout and other off-premises occasions.

Darden traces its history to 1968, when founder William “Bill” Darden opened the first Red Lobster restaurant in Lakeland, Florida.

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