First Trust Advisors LP cut its position in shares of Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 18.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 75,825 shares of the restaurant operator's stock after selling 16,695 shares during the quarter. First Trust Advisors LP owned 0.07% of Darden Restaurants worth $14,865,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of DRI. Capital World Investors grew its holdings in Darden Restaurants by 2.2% during the fourth quarter. Capital World Investors now owns 15,161,277 shares of the restaurant operator's stock worth $2,790,128,000 after acquiring an additional 322,079 shares during the period. Vanguard Group Inc. lifted its holdings in Darden Restaurants by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 14,063,355 shares of the restaurant operator's stock valued at $2,587,939,000 after acquiring an additional 43,965 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Darden Restaurants by 81.0% during the 4th quarter. Wellington Management Group LLP now owns 8,077,567 shares of the restaurant operator's stock valued at $1,486,434,000 after purchasing an additional 3,613,781 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Darden Restaurants by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,189,868 shares of the restaurant operator's stock valued at $771,020,000 after purchasing an additional 68,245 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Darden Restaurants by 9.4% during the 4th quarter. JPMorgan Chase & Co. now owns 2,918,165 shares of the restaurant operator's stock valued at $537,001,000 after purchasing an additional 251,246 shares in the last quarter. Institutional investors own 93.64% of the company's stock.
Insiders Place Their Bets
In other Darden Restaurants news, CEO Ricardo Cardenas sold 39,134 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $209.06, for a total transaction of $8,181,354.04. Following the sale, the chief executive officer directly owned 86,146 shares of the company's stock, valued at $18,009,682.76. The trade was a 31.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Susan M. Connelly sold 9,930 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $206.21, for a total value of $2,047,665.30. Following the completion of the sale, the senior vice president owned 4,165 shares of the company's stock, valued at $858,864.65. The trade was a 70.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 59,768 shares of company stock worth $12,472,786. Corporate insiders own 0.49% of the company's stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on DRI. Robert W. Baird boosted their target price on shares of Darden Restaurants from $210.00 to $220.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Citigroup raised their target price on shares of Darden Restaurants from $238.00 to $245.00 and gave the stock a "buy" rating in a report on Monday, June 15th. Bank of America upped their price target on Darden Restaurants from $272.00 to $276.00 and gave the company a "buy" rating in a report on Friday, June 5th. Guggenheim increased their price objective on Darden Restaurants from $230.00 to $235.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Finally, Piper Sandler raised their price objective on Darden Restaurants from $208.00 to $212.00 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Darden Restaurants currently has an average rating of "Moderate Buy" and an average target price of $228.88.
Read Our Latest Stock Analysis on Darden Restaurants
Darden Restaurants Price Performance
DRI stock opened at $207.09 on Friday. Darden Restaurants, Inc. has a one year low of $169.00 and a one year high of $220.65. The firm has a 50-day moving average of $203.73 and a two-hundred day moving average of $203.18. The firm has a market capitalization of $23.63 billion, a PE ratio of 19.95, a P/E/G ratio of 2.11 and a beta of 0.60. The company has a current ratio of 0.31, a quick ratio of 0.21 and a debt-to-equity ratio of 0.74.
Darden Restaurants (NYSE:DRI - Get Free Report) last released its earnings results on Thursday, June 25th. The restaurant operator reported $3.66 earnings per share for the quarter, topping the consensus estimate of $3.63 by $0.03. Darden Restaurants had a net margin of 9.13% and a return on equity of 57.44%. The business had revenue of $3.72 billion for the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the firm posted $2.98 earnings per share. The firm's quarterly revenue was up 13.7% compared to the same quarter last year. Darden Restaurants has set its FY 2027 guidance at 11.100-11.350 EPS. On average, analysts forecast that Darden Restaurants, Inc. will post 11.28 earnings per share for the current year.
Darden Restaurants Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, July 10th. This is a positive change from Darden Restaurants's previous quarterly dividend of $1.50. Darden Restaurants's dividend payout ratio is presently 62.43%.
Trending Headlines about Darden Restaurants
Here are the key news stories impacting Darden Restaurants this week:
- Positive Sentiment: Brokerages maintain a consensus “Moderate Buy” recommendation, suggesting analysts generally view Darden’s long-term outlook favorably. Darden Receives Moderate Buy Recommendation
- Positive Sentiment: LongHorn Steakhouse reportedly delivered strong momentum, with sales jumping 9.5%, supporting Darden’s strategy of relying on higher-growth brands to drive expansion. Darden CEO Sold Shares as LongHorn Jumped and Olive Garden Lagged
- Neutral Sentiment: Darden is pursuing a leaner growth path, which could improve efficiency and returns but may also signal a more measured expansion strategy. Darden Tests a Leaner Growth Path
- Negative Sentiment: CEO Ricardo Cardenas sold 39,134 shares for approximately $8.2 million after exercising options, reducing his direct holdings by about 31%. While the option-related structure may make the sale less concerning, the sizable transaction can weigh on sentiment. CEO Form 4 Filing
- Negative Sentiment: CFO Rajesh Vennam sold 8,478 shares worth about $1.8 million, cutting his position nearly 50%, while SVP Susan Connelly sold 2,226 shares. Multiple senior-executive sales may reinforce near-term selling pressure. Darden Insider Transactions
- Negative Sentiment: Olive Garden, Darden’s largest brand, lagged LongHorn, highlighting uneven brand performance and potential concerns about traffic and growth at the company’s core business. Brand Performance Report
Darden Restaurants Company Profile
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Free Report)
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.
See Also
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