NewEdge Advisors LLC Buys 4,846 Shares of Darden Restaurants, Inc. $DRI

Key Points

• NewEdge Advisors increased its Darden Restaurants stake by 8.2% in the second quarter, acquiring 4,846 shares for a total position of 64,278 shares valued at approximately $13.2 million. Institutional investors collectively own 93.64% of Darden’s stock.
• Darden reported quarterly revenue of $3.72 billion and adjusted earnings of $3.66 per share, narrowly exceeding analysts’ EPS expectations while revenue rose 13.7% year over year. The company projects fiscal 2027 EPS of $11.10–$11.35.
• The company raised its quarterly dividend to $1.62 per share, or $6.48 annually, producing a yield of about 3.1%. Analysts maintain a “Moderate Buy” consensus with an average price target of $230.79, above the reported share price of $209.83.

NewEdge Advisors LLC increased its position in Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 8.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,278 shares of the restaurant operator's stock after acquiring an additional 4,846 shares during the quarter. NewEdge Advisors LLC owned about 0.06% of Darden Restaurants worth $13,242,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Nicholas Investment Partners LP bought a new stake in shares of Darden Restaurants during the 2nd quarter valued at about $923,000. Integrity Alliance LLC. raised its stake in Darden Restaurants by 2,139.4% in the fourth quarter. Integrity Alliance LLC. now owns 59,837 shares of the restaurant operator's stock valued at $11,011,000 after purchasing an additional 57,165 shares in the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Darden Restaurants during the fourth quarter valued at approximately $1,657,000. Northwestern Mutual Wealth Management Co. lifted its position in Darden Restaurants by 224.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 8,910 shares of the restaurant operator's stock valued at $1,640,000 after purchasing an additional 6,166 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Darden Restaurants by 22.3% in the 4th quarter. BNP Paribas Financial Markets now owns 293,895 shares of the restaurant operator's stock worth $54,083,000 after buying an additional 53,549 shares in the last quarter. Hedge funds and other institutional investors own 93.64% of the company's stock.

Insider Activity at Darden Restaurants

In related news, insider Laura B. Williamson sold 443 shares of the company's stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $204.89, for a total transaction of $90,766.27. Following the completion of the transaction, the insider owned 5,536 shares in the company, valued at $1,134,271.04. This represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ricardo Cardenas sold 39,134 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $209.06, for a total value of $8,181,354.04. Following the completion of 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. 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 quarter. 0.67% of the stock is currently owned by company insiders.

Darden Restaurants Stock Performance

NYSE:DRI opened at $209.83 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 0.21 and a current ratio of 0.31. Darden Restaurants, Inc. has a fifty-two week low of $169.00 and a fifty-two week high of $229.76. The firm has a market cap of $23.94 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.95 and a beta of 0.60. The business has a 50 day moving average price of $210.14 and a 200-day moving average price of $204.75.

Darden Restaurants (NYSE:DRI - Get Free Report) last posted its quarterly earnings results on Thursday, June 25th. The restaurant operator reported $3.66 EPS for the quarter, beating analysts' consensus estimates of $3.63 by $0.03. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.73 billion. Darden Restaurants had a net margin of 9.13% and a return on equity of 57.44%. The firm's revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.98 EPS. Darden Restaurants has set its FY 2027 guidance at 11.100-11.350 EPS. Equities research analysts predict that Darden Restaurants, Inc. will post 11.25 earnings per share for the current year.

Darden Restaurants Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Friday, July 10th were paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 3.1%. This is a positive change from Darden Restaurants's previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Friday, July 10th. Darden Restaurants's payout ratio is currently 62.43%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. BMO Capital Markets restated a "market perform" rating on shares of Darden Restaurants in a research report on Monday, June 22nd. BTIG Research upped their target price on shares of Darden Restaurants from $225.00 to $235.00 and gave the stock a "buy" rating in a research report on Friday, June 26th. Weiss Ratings cut Darden Restaurants from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 28th. Stephens raised their price target on Darden Restaurants from $216.00 to $220.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Evercore lowered Darden Restaurants from an "outperform" rating to an "in-line" rating and set a $230.00 price target for the company. in a research note on Tuesday, June 23rd. Eighteen research 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 currently has an average rating of "Moderate Buy" and a consensus target price of $230.79.

Darden Restaurants Company Profile

Darden Restaurants, Inc NYSE: DRI is a full-service restaurant company headquartered in Orlando, Florida. It operates and franchises a portfolio of dining brands serving a range of cuisines, price points and occasions, with restaurants primarily located in the United States and select international markets.

Its restaurant portfolio includes Olive Garden, an Italian-American dining chain; LongHorn Steakhouse; Cheddar's Scratch Kitchen; Yard House; The Capital Grille; Seasons 52; Bahama Breeze; Eddie V's; Ruth's Chris Steak House; and Chuy's.

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.