Janney Montgomery Scott LLC lifted its position in Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 5.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,496 shares of the restaurant operator's stock after acquiring an additional 1,366 shares during the period. Janney Montgomery Scott LLC's holdings in Darden Restaurants were worth $6,211,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently added to or reduced their stakes in DRI. Charles Schwab Investment Management Inc. boosted its stake in Darden Restaurants by 6.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,998,200 shares of the restaurant operator's stock worth $830,666,000 after purchasing an additional 247,542 shares during the last quarter. Raymond James Financial Inc. lifted its stake in shares of Darden Restaurants by 4.6% in the first quarter. Raymond James Financial Inc. now owns 3,601,340 shares of the restaurant operator's stock worth $748,215,000 after buying an additional 157,305 shares in the last quarter. Hamlin Capital Management LLC boosted its position in Darden Restaurants by 17.6% during the first quarter. Hamlin Capital Management LLC now owns 913,398 shares of the restaurant operator's stock worth $189,768,000 after acquiring an additional 136,382 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Darden Restaurants by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 625,449 shares of the restaurant operator's stock worth $129,943,000 after acquiring an additional 37,878 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Darden Restaurants during the 1st quarter valued at about $84,801,000. 93.64% of the stock is owned by institutional investors and hedge funds.
Darden Restaurants Stock Performance
Shares of DRI stock opened at $193.41 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.27 and a current ratio of 0.40. The firm has a market cap of $22.50 billion, a P/E ratio of 20.73, a P/E/G ratio of 1.77 and a beta of 0.77. The firm's 50 day moving average price is $202.64 and its 200-day moving average price is $206.17. Darden Restaurants, Inc. has a one year low of $155.18 and a one year high of $228.27.
Darden Restaurants (NYSE:DRI - Get Free Report) last announced its earnings results on Thursday, September 18th. The restaurant operator reported $1.97 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.01 by ($0.04). Darden Restaurants had a net margin of 8.90% and a return on equity of 52.35%. The firm had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $3.03 billion. During the same period in the previous year, the firm earned $1.75 EPS. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. Darden Restaurants has set its FY 2026 guidance at 10.500-10.700 EPS. As a group, equities research analysts predict that Darden Restaurants, Inc. will post 9.52 EPS for the current year.
Darden Restaurants Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be paid a dividend of $1.50 per share. The ex-dividend date of this dividend is Friday, October 10th. This represents a $6.00 annualized dividend and a yield of 3.1%. Darden Restaurants's dividend payout ratio is presently 64.31%.
Darden Restaurants declared that its Board of Directors has authorized a share repurchase plan on Friday, June 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the restaurant operator to buy up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.
Wall Street Analyst Weigh In
DRI has been the topic of a number of research reports. BTIG Research decreased their target price on shares of Darden Restaurants from $235.00 to $225.00 and set a "buy" rating on the stock in a research note on Friday, September 19th. Wall Street Zen downgraded Darden Restaurants from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Stephens reissued an "equal weight" rating and set a $215.00 price objective on shares of Darden Restaurants in a research note on Thursday, September 18th. Citigroup raised their target price on Darden Restaurants from $245.00 to $253.00 and gave the stock a "buy" rating in a research note on Monday, June 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Darden Restaurants from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Monday. Nineteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $225.59.
Check Out Our Latest Analysis on DRI
Insider Buying and Selling
In other Darden Restaurants news, insider Laura B. Williamson sold 1,157 shares of Darden Restaurants stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $204.70, for a total value of $236,837.90. Following the completion of the transaction, the insider directly owned 10,632 shares of the company's stock, valued at $2,176,370.40. The trade was a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 2,013 shares of company stock worth $412,738. Company insiders own 0.49% of the company's stock.
About Darden Restaurants
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Free Report)
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.
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