Catalyst Capital Advisors LLC Has $3.70 Million Stock Holdings in Darden Restaurants, Inc. $DRI

Key Points

• Catalyst Capital Advisors LLC increased its stake in Darden Restaurants, Inc. by 274.1% during the second quarter, now owning 16,958 shares worth approximately $3.70 million.
• Analyst price targets for Darden Restaurants were generally lowered, with JPMorgan Chase setting a new target of $230, while a consensus rating remains at "Moderate Buy" with an average target price of $227.15.
• Darden Restaurants has declared a quarterly dividend of $1.50 per share, equating to an annualized yield of 3.2%, with a payout ratio of 64.31%.

Catalyst Capital Advisors LLC raised its position in Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 274.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 16,958 shares of the restaurant operator's stock after acquiring an additional 12,425 shares during the period. Catalyst Capital Advisors LLC's holdings in Darden Restaurants were worth $3,696,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Bowman & Co S.C. grew its position in Darden Restaurants by 0.5% in the 2nd quarter. Bowman & Co S.C. now owns 9,631 shares of the restaurant operator's stock valued at $2,099,000 after purchasing an additional 48 shares during the period. Rise Advisors LLC grew its holdings in shares of Darden Restaurants by 32.2% during the first quarter. Rise Advisors LLC now owns 201 shares of the restaurant operator's stock valued at $42,000 after buying an additional 49 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of Darden Restaurants by 2.5% during the second quarter. Ballentine Partners LLC now owns 1,975 shares of the restaurant operator's stock valued at $430,000 after buying an additional 49 shares during the last quarter. SBI Securities Co. Ltd. grew its holdings in shares of Darden Restaurants by 15.8% during the first quarter. SBI Securities Co. Ltd. now owns 381 shares of the restaurant operator's stock valued at $79,000 after buying an additional 52 shares during the last quarter. Finally, Fiduciary Financial Group LLC grew its holdings in shares of Darden Restaurants by 3.2% during the second quarter. Fiduciary Financial Group LLC now owns 1,663 shares of the restaurant operator's stock valued at $365,000 after buying an additional 52 shares during the last quarter. Institutional investors and hedge funds own 93.64% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on DRI shares. JPMorgan Chase & Co. cut their price objective on Darden Restaurants from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Monday, October 6th. BMO Capital Markets lowered their price objective on Darden Restaurants from $215.00 to $205.00 and set a "market perform" rating on the stock in a research report on Friday, September 19th. Wells Fargo & Company lowered their price objective on Darden Restaurants from $225.00 to $200.00 and set an "equal weight" rating on the stock in a research report on Friday, September 19th. Barclays lowered their price target on Darden Restaurants from $255.00 to $230.00 and set an "overweight" rating on the stock in a research report on Friday, September 19th. Finally, TD Cowen reissued a "hold" rating and set a $235.00 price target on shares of Darden Restaurants in a research note on Thursday, September 18th. Twenty analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $227.15.

Insiders Place Their Bets

In other news, insider Laura B. Williamson sold 523 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $204.65, for a total value of $107,031.95. Following the sale, the insider owned 5,423 shares of the company's stock, valued at approximately $1,109,816.95. This represents a 8.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Matthew R. Broad sold 5,661 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $193.40, for a total transaction of $1,094,837.40. Following the completion of the sale, the senior vice president directly owned 13,916 shares in the company, valued at $2,691,354.40. This trade represents a 28.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,341 shares of company stock worth $1,438,707. 0.49% of the stock is owned by insiders.

Darden Restaurants Trading Down 0.5%

NYSE DRI opened at $186.46 on Friday. Darden Restaurants, Inc. has a 12 month low of $157.89 and a 12 month high of $228.27. The stock's fifty day moving average price is $198.19 and its 200-day moving average price is $204.62. The stock has a market cap of $21.69 billion, a P/E ratio of 19.99, a P/E/G ratio of 1.72 and a beta of 0.77. The company has a current ratio of 0.40, a quick ratio of 0.27 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.04). The company 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%.The company's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.75 EPS. Darden Restaurants has set its FY 2026 guidance at 10.500-10.700 EPS. As a group, equities analysts forecast that Darden Restaurants, Inc. will post 9.52 EPS for the current fiscal year.

Darden Restaurants Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 3.2%. Darden Restaurants's payout ratio is presently 64.31%.

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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