Deutsche Bank AG Takes $103.32 Million Position in Darden Restaurants, Inc. $DRI

Deutsche Bank AG purchased a new stake in Darden Restaurants, Inc. (NYSE:DRI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 501,540 shares of the restaurant operator's stock, valued at approximately $103,322,000. Deutsche Bank AG owned 0.44% of Darden Restaurants at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DRI. Meridian Wealth Management LLC acquired a new position in shares of Darden Restaurants in the 4th quarter valued at approximately $2,404,000. Sanctuary Advisors LLC boosted its holdings in shares of Darden Restaurants by 33.0% during the 4th quarter. Sanctuary Advisors LLC now owns 23,473 shares of the restaurant operator's stock valued at $4,319,000 after acquiring an additional 5,830 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Darden Restaurants by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 14,063,355 shares of the restaurant operator's stock worth $2,587,939,000 after purchasing an additional 43,965 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in Darden Restaurants by 313.9% during the 4th quarter. Concurrent Investment Advisors LLC now owns 13,598 shares of the restaurant operator's stock worth $2,502,000 after acquiring an additional 10,313 shares during the last quarter. Finally, Truist Financial Corp raised its stake in shares of Darden Restaurants by 9.5% during the fourth quarter. Truist Financial Corp now owns 61,922 shares of the restaurant operator's stock valued at $11,395,000 after acquiring an additional 5,348 shares during the last quarter. Institutional investors own 93.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. BTIG Research lifted their price target on shares of Darden Restaurants from $225.00 to $235.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Evercore lowered Darden Restaurants from an "outperform" rating to an "in-line" rating and set a $230.00 target price for the company. in a research report on Tuesday, June 23rd. UBS Group lifted their target price on Darden Restaurants from $230.00 to $240.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Piper Sandler upped their price target on Darden Restaurants from $208.00 to $212.00 and gave the company a "neutral" rating in a research report on Friday, June 26th. Finally, Guggenheim increased their price target on Darden Restaurants from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Seventeen research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Darden Restaurants has a consensus rating of "Moderate Buy" and an average target price of $228.88.

Insiders Place Their Bets

In other Darden Restaurants news, CFO Rajesh Vennam sold 8,478 shares of Darden Restaurants stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $210.00, for a total value of $1,780,380.00. Following the completion of the sale, the chief financial officer directly owned 8,569 shares in the company, valued at approximately $1,799,490. The trade was a 49.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Susan M. Connelly sold 2,226 shares of the business's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $208.17, for a total value of $463,386.42. Following the completion of the transaction, the senior vice president directly owned 4,165 shares in the company, valued at approximately $867,028.05. This trade represents a 34.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 70,185 shares of company stock valued at $14,636,984 in the last 90 days. Company insiders own 0.67% of the company's stock.

Darden Restaurants Stock Performance

Shares of DRI opened at $217.89 on Friday. The company has a current ratio of 0.31, a quick ratio of 0.21 and a debt-to-equity ratio of 0.74. The stock has a market capitalization of $24.86 billion, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 2.21 and a beta of 0.60. The firm's fifty day simple moving average is $208.09 and its two-hundred day simple moving average is $204.32. Darden Restaurants, Inc. has a 12 month low of $169.00 and a 12 month high of $229.76.

Darden Restaurants (NYSE:DRI - Get Free Report) last issued its quarterly earnings results on Thursday, June 25th. The restaurant operator reported $3.66 earnings per share for the quarter, topping analysts' consensus estimates of $3.63 by $0.03. Darden Restaurants had a return on equity of 57.44% and a net margin of 9.13%.The firm had revenue of $3.72 billion during the quarter, compared to the consensus estimate of $3.73 billion. During the same period last year, the business posted $2.98 EPS. The business's 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. As a group, analysts predict that Darden Restaurants, Inc. will post 11.28 EPS for the current year.

Darden Restaurants Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Friday, July 10th were paid a dividend of $1.62 per share. This is an increase from Darden Restaurants's previous quarterly dividend of $1.50. This represents a $6.48 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, July 10th. Darden Restaurants's payout ratio is 62.43%.

Darden Restaurants Company Profile

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.

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