AEGON ASSET MANAGEMENT UK Plc Has $31.74 Million Stake in Darden Restaurants, Inc. $DRI

Key Points

• AEGON Asset Management UK Plc trimmed its Darden stake by 41.6%, selling 122,950 shares and leaving 172,429 shares worth about $31.74 million (≈0.15% of the company) at quarter-end.
• Darden beat Q expectations with $2.95 EPS (vs. $2.94 est.) and $3.35 billion in revenue (up 5.9% YoY), reporting a net margin of 8.66% and return on equity of 53.54%.
• The company declared a quarterly dividend of $1.50 (annualized $6.00) for a ~3.0% yield, with an ex-dividend date of April 10 and payment on May 1.

AEGON ASSET MANAGEMENT UK Plc trimmed its position in shares of Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 41.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,429 shares of the restaurant operator's stock after selling 122,950 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.15% of Darden Restaurants worth $31,737,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. First Trust Advisors LP lifted its holdings in shares of Darden Restaurants by 3.3% in the second quarter. First Trust Advisors LP now owns 80,001 shares of the restaurant operator's stock worth $17,438,000 after acquiring an additional 2,553 shares during the last quarter. Brown Advisory Inc. bought a new position in shares of Darden Restaurants in the second quarter worth about $200,000. Cresset Asset Management LLC lifted its holdings in shares of Darden Restaurants by 3.2% in the second quarter. Cresset Asset Management LLC now owns 2,424 shares of the restaurant operator's stock worth $529,000 after acquiring an additional 76 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Darden Restaurants by 15.7% in the second quarter. Cerity Partners LLC now owns 19,045 shares of the restaurant operator's stock worth $4,151,000 after acquiring an additional 2,581 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in shares of Darden Restaurants by 5.9% in the second quarter. Daiwa Securities Group Inc. now owns 18,183 shares of the restaurant operator's stock worth $3,964,000 after acquiring an additional 1,012 shares during the last quarter. 93.64% of the stock is currently owned by institutional investors and hedge funds.

Darden Restaurants Stock Performance

Shares of DRI stock opened at $201.33 on Friday. The company has a market cap of $23.06 billion, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 1.92 and a beta of 0.64. Darden Restaurants, Inc. has a 52 week low of $169.00 and a 52 week high of $228.27. The company has a quick ratio of 0.25, a current ratio of 0.39 and a debt-to-equity ratio of 1.02. The firm has a 50 day moving average of $202.66 and a 200-day moving average of $194.20.

Darden Restaurants (NYSE:DRI - Get Free Report) last announced its quarterly earnings data on Thursday, March 19th. The restaurant operator reported $2.95 EPS for the quarter, topping the consensus estimate of $2.94 by $0.01. The company had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.33 billion. Darden Restaurants had a net margin of 8.66% and a return on equity of 53.54%. The company's quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.80 EPS. On average, equities analysts forecast that Darden Restaurants, Inc. will post 10.61 earnings per share for the current year.

Darden Restaurants Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be given a $1.50 dividend. The ex-dividend date of this dividend is Friday, April 10th. This represents a $6.00 annualized dividend and a yield of 3.0%. Darden Restaurants's dividend payout ratio (DPR) is presently 63.49%.

Insider Buying and Selling at Darden Restaurants

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Sanford C. Bernstein reissued an "outperform" rating on shares of Darden Restaurants in a report on Friday, March 13th. Truist Financial reiterated a "hold" rating and issued a $207.00 price objective (down from $240.00) on shares of Darden Restaurants in a report on Thursday, January 8th. Bank of America raised their price objective on shares of Darden Restaurants from $261.00 to $262.00 and gave the company a "buy" rating in a report on Monday, March 16th. Robert W. Baird raised their price objective on shares of Darden Restaurants from $208.00 to $215.00 and gave the company a "neutral" rating in a report on Friday, March 20th. Finally, Barclays raised their price objective on shares of Darden Restaurants from $227.00 to $232.00 and gave the company an "overweight" rating in a report on Friday, March 20th. Eighteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Darden Restaurants has an average rating of "Moderate Buy" and an average target price of $226.24.

Darden Restaurants Profile

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.

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