Iowa State Bank Buys New Shares in Darden Restaurants, Inc. $DRI

Key Points

• Iowa State Bank acquired 7,413 shares of Darden Restaurants in the third quarter, worth approximately $1.43 million. Institutional investors and hedge funds collectively own 93.64% of the company.
• Analysts remain generally bullish, with 17 Buy ratings and 9 Holds, producing a “Moderate Buy” consensus and an average price target of $232.48.
• Darden reported quarterly EPS of $2.05, matching estimates, while revenue rose 5.1% year over year to $3.20 billion. The company also declared a quarterly dividend of $1.62 per share, equivalent to a 3.2% annualized yield.

Iowa State Bank bought a new position in Darden Restaurants, Inc. (NYSE:DRI - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,413 shares of the restaurant operator's stock, valued at approximately $1,433,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Union Savings Bank bought a new stake in shares of Darden Restaurants in the 4th quarter valued at $28,000. Bell Investment Advisors Inc bought a new position in Darden Restaurants during the second quarter worth $28,000. Transamerica Financial Advisors LLC acquired a new stake in Darden Restaurants in the second quarter worth $34,000. HHM Wealth Advisors LLC grew its holdings in Darden Restaurants by 44.8% in the first quarter. HHM Wealth Advisors LLC now owns 181 shares of the restaurant operator's stock worth $35,000 after purchasing an additional 56 shares during the period. Finally, Keating Financial Advisory Services Inc. bought a new stake in Darden Restaurants in the second quarter valued at $39,000. 93.64% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DRI shares. BTIG Research reiterated a "buy" rating and set a $235.00 price objective on shares of Darden Restaurants in a report on Friday, September 25th. Robert W. Baird upgraded Darden Restaurants from a "neutral" rating to an "outperform" rating and raised their target price for the company from $220.00 to $250.00 in a research note on Monday, August 24th. UBS Group reaffirmed a "buy" rating on shares of Darden Restaurants in a research report on Friday, September 11th. Argus upped their price target on Darden Restaurants from $240.00 to $245.00 and gave the stock a "buy" rating in a research note on Tuesday, June 30th. Finally, KeyCorp reiterated an "overweight" rating on shares of Darden Restaurants in a report on Wednesday, September 23rd. Seventeen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Darden Restaurants currently has an average rating of "Moderate Buy" and a consensus price target of $232.48.

Insider Buying and Selling at Darden Restaurants

In other news, insider John W. Wilkerson sold 8,864 shares of the firm's 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 transaction, the insider owned 18,794 shares in the company, valued at $3,915,354.02. This trade represents a 32.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Susan M. Connelly sold 2,226 shares of the firm'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 owned 4,165 shares in the company, valued at $867,028.05. This represents a 34.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 60,255 shares of company stock worth $12,589,319. 0.67% of the stock is currently owned by corporate insiders.

Darden Restaurants Stock Up 1.3%

DRI traded up $2.56 during trading on Tuesday, hitting $202.28. 235,913 shares of the company's stock were exchanged, compared to its average volume of 1,336,909. 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 cap of $23.08 billion, a P/E ratio of 19.77, a PEG ratio of 1.87 and a beta of 0.63. The business's 50 day moving average is $212.19 and its two-hundred day moving average is $204.49. The company has a quick ratio of 0.20, a current ratio of 0.30 and a debt-to-equity ratio of 0.79.

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

Darden Restaurants Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 9th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, October 9th. This represents a $6.48 dividend on an annualized basis and a yield of 3.2%. Darden Restaurants's payout ratio is 63.34%.

Darden Restaurants Company Profile

Darden Restaurants, Inc is a full-service restaurant company that owns and operates a portfolio of well-known dining brands. Its restaurants serve a range of cuisines and occasions, from Italian and American casual dining to seafood, steak, and upscale experiences.

The company's portfolio includes Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, Ruth's Chris Steak House, Seasons 52, Bahama Breeze, Eddie V's, and The Capital Grille. In 2024, Darden expanded its brand portfolio through the acquisition of Chuy's, a full-service Mexican restaurant concept.

Founded by William B.

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