Czech National Bank Has $6.24 Million Holdings in Darden Restaurants, Inc. $DRI

Key Points

• The Czech National Bank increased its stake in Darden Restaurants, Inc. by 6.3%, owning 28,605 shares valued at approximately $6.24 million as of the latest SEC filing.
• Darden Restaurants recently announced a quarterly dividend increase to $1.50 per share and initiated a share buyback program worth $1 billion, indicating confidence in the stock's value.
• Analysts maintain a consensus rating of "Moderate Buy" for Darden Restaurants with a target price of $225.54, reflecting positive market sentiment despite varying price estimates from different research firms.

Czech National Bank boosted its stake in Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 6.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,605 shares of the restaurant operator's stock after acquiring an additional 1,699 shares during the period. Czech National Bank's holdings in Darden Restaurants were worth $6,235,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DRI. Grove Bank & Trust raised its holdings in Darden Restaurants by 171.4% in 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 holdings in Darden Restaurants by 108.8% in 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 acquired a new stake in Darden Restaurants in the first quarter valued at $31,000. Alpine Bank Wealth Management acquired a new stake in Darden Restaurants in the first quarter valued at $34,000. Finally, SouthState Corp acquired a new stake in Darden Restaurants in the first quarter valued at $36,000. 93.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Darden Restaurants

In other news, insider Todd Burrowes sold 13,569 shares of the firm's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $216.45, for a total transaction of $2,937,010.05. Following the completion of the transaction, the insider owned 46,327 shares in the company, valued at approximately $10,027,479.15. This trade represents a 22.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Rajesh Vennam sold 5,780 shares of Darden Restaurants stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly owned 4,555 shares in the company, valued at approximately $1,012,212.10. This trade represents a 55.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,727 shares of company stock worth $10,022,232. Company insiders own 0.49% of the company's stock.

Darden Restaurants Price Performance

Shares of NYSE:DRI traded down $7.91 during trading hours on Friday, hitting $184.83. 3,334,483 shares of the company's stock traded hands, compared to its average volume of 1,189,895. Darden Restaurants, Inc. has a 52 week low of $155.18 and a 52 week high of $228.27. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.28 and a current ratio of 0.40. The company's fifty day simple moving average is $206.37 and its two-hundred day simple moving average is $206.14. The company has a market cap of $21.55 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 1.69 and a beta of 0.71.

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

Darden Restaurants announced that its board has initiated a share buyback plan on Friday, June 20th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the restaurant operator to reacquire up to 3.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Darden Restaurants Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be given a dividend of $1.50 per share. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 3.2%. Darden Restaurants's dividend payout ratio (DPR) is 67.57%.

Analyst Ratings Changes

A number of analysts have weighed in on DRI shares. Citigroup increased their target price on shares of Darden Restaurants from $245.00 to $253.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Bank of America increased their target price on shares of Darden Restaurants from $253.00 to $254.00 and gave the stock a "buy" rating in a report on Tuesday, September 16th. Stephens reissued an "equal weight" rating and set a $215.00 target price on shares of Darden Restaurants in a report on Thursday. JPMorgan Chase & Co. increased their target price on shares of Darden Restaurants from $218.00 to $240.00 and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Finally, Barclays dropped their target price on shares of Darden Restaurants from $255.00 to $230.00 and set an "overweight" rating on the stock in a report on Friday. Eighteen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Darden Restaurants has an average rating of "Moderate Buy" and a consensus target price of $225.96.

Darden Restaurants 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.