Darden Restaurants, Inc. $DRI Shares Sold by Citizens Financial Group Inc. RI

Key Points

• Citizens Financial Group cut its Darden Restaurants stake by 87.8% in the third quarter, leaving it with 1,176 shares valued at approximately $227,000. Institutional investors collectively own 93.64% of Darden’s stock.
• Darden reported quarterly earnings of $2.05 per share, matching analyst estimates, while revenue rose 5.1% year over year to $3.20 billion. The company issued fiscal 2027 EPS guidance of $11.10–$11.35.
• Darden announced a quarterly dividend of $1.62 per share, or $6.48 annualized, representing a 2.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $232.82.

Citizens Financial Group Inc. RI decreased its position in Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 87.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,176 shares of the restaurant operator's stock after selling 8,442 shares during the period. Citizens Financial Group Inc. RI's holdings in Darden Restaurants were worth $227,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Simplicity Wealth LLC lifted its holdings in shares of Darden Restaurants by 3.6% during the 3rd quarter. Simplicity Wealth LLC now owns 11,711 shares of the restaurant operator's stock valued at $2,263,000 after buying an additional 407 shares during the period. Carolina Wealth Advisors LLC boosted its holdings in shares of Darden Restaurants by 1.5% in the third quarter. Carolina Wealth Advisors LLC now owns 10,879 shares of the restaurant operator's stock worth $2,102,000 after buying an additional 158 shares during the last quarter. Sowell Financial Services LLC grew its position in Darden Restaurants by 0.9% during the third quarter. Sowell Financial Services LLC now owns 12,286 shares of the restaurant operator's stock valued at $2,374,000 after buying an additional 108 shares during the period. Evergreen Capital Management LLC raised its position in Darden Restaurants by 4.8% in the third quarter. Evergreen Capital Management LLC now owns 3,760 shares of the restaurant operator's stock worth $727,000 after acquiring an additional 172 shares during the period. Finally, Tectonic Advisors LLC boosted its stake in shares of Darden Restaurants by 12.1% during the 3rd quarter. Tectonic Advisors LLC now owns 9,254 shares of the restaurant operator's stock worth $1,788,000 after acquiring an additional 996 shares during the last quarter. Institutional investors own 93.64% of the company's stock.

Darden Restaurants Price Performance

Shares of DRI opened at $219.92 on Monday. The company has a 50 day moving average price of $210.60 and a 200-day moving average price of $205.87. Darden Restaurants, Inc. has a fifty-two week low of $169.00 and a fifty-two week high of $229.76. The stock has a market capitalization of $24.88 billion, a PE ratio of 21.50, a PEG ratio of 2.06 and a beta of 0.65. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.20 and a current ratio of 0.30.

Darden Restaurants (NYSE:DRI - Get Free Report) last posted its quarterly earnings data on Thursday, September 24th. The restaurant operator reported $2.05 earnings per share for the quarter, hitting analysts' consensus estimates of $2.05. Darden Restaurants had a return on equity of 58.64% and a net margin of 8.85%. The firm had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.21 billion. During the same quarter last year, the firm earned $1.97 EPS. The business's quarterly revenue was up 5.1% on a year-over-year basis. Darden Restaurants has set its FY 2027 guidance at 11.100-11.350 EPS. Equities analysts predict that Darden Restaurants, Inc. will post 11.24 earnings per share for the current fiscal year.

Darden Restaurants Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 9th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 2.9%. Darden Restaurants's dividend payout ratio (DPR) is 63.34%.

Insider Activity at Darden Restaurants

In related news, insider John Wilkerson sold 8,864 shares of the stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $208.33, for a total value of $1,846,637.12. Following the completion of the transaction, the insider directly owned 18,794 shares in the company, valued at approximately $3,915,354.02. This represents a 32.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.67% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Seaport Research Partners began coverage on shares of Darden Restaurants in a research report on Wednesday, September 16th. They issued a "buy" rating and a $240.00 price target for the company. BMO Capital Markets dropped their target price on shares of Darden Restaurants from $225.00 to $220.00 and set a "market perform" rating for the company in a research report on Friday, September 25th. UBS Group reaffirmed a "buy" rating on shares of Darden Restaurants in a report on Friday, September 11th. Sanford C. Bernstein reissued an "outperform" rating and set a $230.00 price target on shares of Darden Restaurants in a research note on Friday, September 25th. Finally, Weiss Ratings raised shares of Darden Restaurants from a "buy (b-)" rating to a "buy (b)" rating in a research note on Tuesday, October 20th. Sixteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, Darden Restaurants presently has a consensus rating of "Moderate Buy" and an average price target of $232.82.

About Darden Restaurants

Darden Restaurants, Inc is a full-service restaurant company that owns and operates a portfolio of dining brands in the United States. Its restaurants offer a range of cuisines and dining formats, including Italian-American, steakhouse, seafood, casual dining and polished casual concepts.

The company's portfolio includes Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, Ruth's Chris Steak House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V's. These brands serve meals prepared for on-premises dining, as well as takeout and other off-premises occasions.

Darden traces its history to 1968, when founder William “Bill” Darden opened the first Red Lobster restaurant in Lakeland, Florida.

Want to see what other hedge funds are holding DRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darden Restaurants, Inc. (NYSE:DRI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.