Swiss National Bank Has $66.22 Million Stock Position in Darden Restaurants, Inc. $DRI

Key Points

• Swiss National Bank increased its Darden Restaurants stake by 6.0% in the first quarter, ending with 337,800 shares valued at about $66.22 million. Institutional investors overall own 93.64% of the company.
• Darden beat earnings expectations in its latest quarterly report, posting $3.66 EPS versus the $3.63 consensus, while revenue rose 13.7% year over year to $3.72 billion. The company also reaffirmed a FY2027 EPS guidance range of 11.10 to 11.35.
• Darden raised its quarterly dividend to $1.62 per share from $1.50, implying an annualized dividend of $6.48 and a 3.4% yield. Analysts remain broadly positive, with a consensus rating of Moderate Buy and an average target price of $228.88.

Swiss National Bank grew its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 6.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 337,800 shares of the restaurant operator's stock after purchasing an additional 19,000 shares during the quarter. Swiss National Bank owned about 0.29% of Darden Restaurants worth $66,222,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of DRI. Torren Management LLC acquired a new position in Darden Restaurants during the fourth quarter worth $26,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Darden Restaurants by 926.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 154 shares of the restaurant operator's stock worth $28,000 after acquiring an additional 139 shares in the last quarter. Union Savings Bank bought a new stake in shares of Darden Restaurants during the 4th quarter worth about $28,000. BOK Financial Private Wealth Inc. acquired a new position in shares of Darden Restaurants during the 4th quarter valued at about $29,000. Finally, DV Equities LLC acquired a new position in shares of Darden Restaurants during the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 93.64% of the company's stock.

Darden Restaurants Stock Performance

DRI opened at $192.93 on Wednesday. The company has a quick ratio of 0.21, a current ratio of 0.31 and a debt-to-equity ratio of 0.74. The stock's 50 day moving average price is $202.73 and its two-hundred day moving average price is $202.86. The firm has a market capitalization of $22.10 billion, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 1.94 and a beta of 0.60. Darden Restaurants, Inc. has a 12-month low of $169.00 and a 12-month high of $220.65.

Darden Restaurants (NYSE:DRI - Get Free Report) last issued its quarterly earnings results on Thursday, June 25th. The restaurant operator reported $3.66 EPS 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 company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same period in the previous year, the company earned $2.98 earnings per share. The company'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, equities analysts forecast that Darden Restaurants, Inc. will post 11.28 earnings per share for the current year.

Darden Restaurants Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be issued a $1.62 dividend. This is a boost from Darden Restaurants's previous quarterly dividend of $1.50. The ex-dividend date of this dividend is Friday, July 10th. This represents a $6.48 dividend on an annualized basis and a yield of 3.4%. Darden Restaurants's payout ratio is currently 62.43%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DRI shares. Piper Sandler boosted their target price on Darden Restaurants from $208.00 to $212.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. BTIG Research lifted their price target on shares of Darden Restaurants from $225.00 to $235.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Evercore downgraded shares of Darden Restaurants from an "outperform" rating to an "in-line" rating and set a $230.00 price objective for the company. in a report on Tuesday, June 23rd. Guggenheim raised their target price on shares of Darden Restaurants from $230.00 to $235.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Finally, KeyCorp raised their target price on shares of Darden Restaurants from $226.00 to $228.00 and gave the company an "overweight" rating in a research note on Wednesday, May 27th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.88.

Insider Transactions at Darden Restaurants

In other news, SVP Susan M. Connelly sold 9,930 shares of the business's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $206.21, for a total transaction of $2,047,665.30. Following the transaction, the senior vice president owned 4,165 shares in the company, valued at approximately $858,864.65. The trade was a 70.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.49% of the stock is owned by corporate insiders.

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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