6,385 Shares in Darden Restaurants, Inc. $DRI Purchased by Apexium Financial LP

Key Points

• Apexium Financial LP has purchased 6,385 shares of Darden Restaurants, Inc. valued at approximately $1,327,000 during the first quarter.
• Darden Restaurants recently reported an earnings per share (EPS) of $2.98, exceeding estimates, and has announced a stock buyback program allowing up to $1 billion in share repurchases.
• The company has also increased its quarterly dividend from $1.40 to $1.50 per share, resulting in an annualized dividend of $6.00 with a yield of 2.9%.

Apexium Financial LP acquired a new position in Darden Restaurants, Inc. (NYSE:DRI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,385 shares of the restaurant operator's stock, valued at approximately $1,327,000.

A number of other institutional investors have also modified their holdings of the stock. Grove Bank & Trust raised its stake in shares of Darden Restaurants by 171.4% during the first quarter. Grove Bank & Trust now owns 133 shares of the restaurant operator's stock valued at $28,000 after acquiring an additional 84 shares in the last quarter. ORG Partners LLC raised its stake in shares of Darden Restaurants by 108.8% during the first quarter. ORG Partners LLC now owns 142 shares of the restaurant operator's stock valued at $30,000 after acquiring an additional 74 shares in the last quarter. Centennial Bank AR bought a new stake in shares of Darden Restaurants during the first quarter valued at approximately $31,000. Alpine Bank Wealth Management bought a new stake in shares of Darden Restaurants during the first quarter valued at approximately $34,000. Finally, SouthState Corp bought a new stake in shares of Darden Restaurants during the first quarter valued at approximately $36,000. 93.64% of the stock is owned by hedge funds and other institutional investors.

Darden Restaurants Price Performance

Shares of DRI opened at $208.49 on Friday. Darden Restaurants, Inc. has a twelve month low of $153.74 and a twelve month high of $228.27. The company has a 50 day moving average of $211.11 and a two-hundred day moving average of $204.48. The company has a quick ratio of 0.28, a current ratio of 0.42 and a debt-to-equity ratio of 0.92. The company has a market cap of $24.31 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 1.92 and a beta of 0.75.

Darden Restaurants (NYSE:DRI - Get Free Report) last posted its quarterly earnings data on Friday, June 20th. The restaurant operator reported $2.98 EPS for the quarter, topping the consensus estimate of $2.97 by $0.01. Darden Restaurants had a net margin of 8.69% and a return on equity of 51.81%. The business had revenue of $3.27 billion during the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the previous year, the firm posted $2.65 earnings per share. The business's revenue for the quarter was up 10.6% compared to the same quarter last year. Darden Restaurants has set its FY 2026 guidance at 10.500-10.700 EPS. As a group, analysts predict that Darden Restaurants, Inc. will post 9.52 earnings per share for the current fiscal year.

Darden Restaurants declared that its Board of Directors has initiated a stock buyback program on Friday, June 20th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the restaurant operator to reacquire up to 3.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Darden Restaurants Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were paid a dividend of $1.50 per share. The ex-dividend date was Thursday, July 10th. This is an increase from Darden Restaurants's previous quarterly dividend of $1.40. This represents a $6.00 annualized dividend and a dividend yield of 2.9%. Darden Restaurants's payout ratio is presently 67.57%.

Insider Buying and Selling at Darden Restaurants

In other news, insider Laura B. Williamson sold 523 shares of Darden Restaurants stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $204.65, for a total transaction of $107,031.95. Following the completion of the sale, the insider directly owned 5,423 shares in the company, valued at approximately $1,109,816.95. The trade was a 8.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Rajesh Vennam sold 5,780 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $222.22, for a total transaction of $1,284,431.60. Following the transaction, the chief financial officer directly owned 4,555 shares of the company's stock, valued at approximately $1,012,212.10. This trade represents a 55.93% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,727 shares of company stock valued at $10,022,232. Company insiders own 0.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Oppenheimer lifted their price target on shares of Darden Restaurants from $230.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, June 18th. Barclays increased their price objective on shares of Darden Restaurants from $235.00 to $255.00 and gave the company an "overweight" rating in a research note on Monday, June 23rd. Melius initiated coverage on shares of Darden Restaurants in a research note on Monday, July 14th. They set a "hold" rating and a $240.00 price objective on the stock. Evercore ISI increased their price objective on shares of Darden Restaurants from $230.00 to $250.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Finally, Robert W. Baird increased their price objective on shares of Darden Restaurants from $218.00 to $230.00 and gave the company a "neutral" rating in a research note on Monday, June 23rd. Sixteen equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.19.

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.

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