Allianz Asset Management GmbH Acquires 137,763 Shares of Darden Restaurants, Inc. $DRI

Key Points

• Allianz Asset Management GmbH significantly increased its stake in Darden Restaurants by 1,195.5%, acquiring 137,763 shares to own a total of 149,286 shares, valued around $32.54 million.
• Darden Restaurants recently announced a quarterly $1.50 dividend, with an annualized yield of 3.2%, set to be paid to investors of record.
• Research analysts have mixed ratings on Darden, with several lowering price targets, but the stock maintains a general consensus rating of "Moderate Buy" and an average target price of $225.59.

Allianz Asset Management GmbH increased its holdings in Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 1,195.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 149,286 shares of the restaurant operator's stock after buying an additional 137,763 shares during the period. Allianz Asset Management GmbH owned 0.13% of Darden Restaurants worth $32,540,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Partners LLC boosted its holdings in Darden Restaurants by 108.8% in the 1st quarter. ORG Partners LLC now owns 142 shares of the restaurant operator's stock worth $30,000 after buying an additional 74 shares during the period. Centennial Bank AR purchased a new position in shares of Darden Restaurants during the 1st quarter valued at $31,000. Alpine Bank Wealth Management purchased a new position in shares of Darden Restaurants during the 1st quarter valued at $34,000. SouthState Corp bought a new position in shares of Darden Restaurants in the first quarter worth $36,000. Finally, Rise Advisors LLC increased its holdings in shares of Darden Restaurants by 32.2% in the first quarter. Rise Advisors LLC now owns 201 shares of the restaurant operator's stock worth $42,000 after purchasing an additional 49 shares during the period. 93.64% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Darden Restaurants news, insider Laura B. Williamson sold 1,157 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $204.70, for a total value of $236,837.90. Following the transaction, the insider owned 10,632 shares in the company, valued at approximately $2,176,370.40. The trade was a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew R. Broad sold 5,661 shares of the business's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $193.40, for a total transaction of $1,094,837.40. Following the completion of the transaction, the senior vice president owned 13,916 shares in the company, valued at $2,691,354.40. The trade was a 28.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,674 shares of company stock worth $1,507,575. 0.49% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Barclays decreased their price target on shares of Darden Restaurants from $255.00 to $230.00 and set an "overweight" rating on the stock in a report on Friday, September 19th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Darden Restaurants in a report on Wednesday, October 8th. Guggenheim upped their price target on shares of Darden Restaurants from $220.00 to $235.00 and gave the stock a "buy" rating in a report on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Darden Restaurants from $239.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, September 19th. Finally, Melius Research upgraded shares of Darden Restaurants to a "hold" rating in a research report on Monday, July 14th. Nineteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $225.59.

Darden Restaurants Price Performance

Shares of NYSE:DRI opened at $188.16 on Friday. The stock has a market cap of $21.88 billion, a PE ratio of 20.17, a PEG ratio of 1.72 and a beta of 0.77. The company's fifty day moving average is $199.61 and its 200 day moving average is $204.87. Darden Restaurants, Inc. has a 52 week low of $157.89 and a 52 week high of $228.27. The company has a quick ratio of 0.27, a current ratio of 0.40 and a debt-to-equity ratio of 0.96.

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

Darden Restaurants Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Friday, October 10th. Darden Restaurants's dividend payout ratio (DPR) is presently 64.31%.

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.

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