Toronto Dominion Bank Has $49.39 Million Stake in Darden Restaurants, Inc. (NYSE:DRI)

Toronto Dominion Bank lifted its holdings in Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 70.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 264,548 shares of the restaurant operator's stock after acquiring an additional 109,212 shares during the quarter. Toronto Dominion Bank owned approximately 0.23% of Darden Restaurants worth $49,388,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of DRI. Kestra Investment Management LLC acquired a new stake in shares of Darden Restaurants in the fourth quarter valued at approximately $25,000. TCTC Holdings LLC bought a new position in Darden Restaurants in the fourth quarter valued at about $28,000. HHM Wealth Advisors LLC increased its position in Darden Restaurants by 103.2% in the fourth quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator's stock worth $47,000 after purchasing an additional 129 shares during the period. Webster Bank N. A. bought a new stake in Darden Restaurants during the 4th quarter worth about $51,000. Finally, SBI Securities Co. Ltd. acquired a new position in Darden Restaurants during the 4th quarter valued at about $61,000. 93.64% of the stock is owned by institutional investors and hedge funds.

Darden Restaurants Stock Down 0.3%

Shares of Darden Restaurants stock traded down $0.60 during trading on Wednesday, reaching $213.45. The stock had a trading volume of 1,066,230 shares, compared to its average volume of 1,319,080. The company has a current ratio of 0.37, a quick ratio of 0.23 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $24.98 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 2.15 and a beta of 0.74. The stock has a fifty day moving average price of $201.88 and a two-hundred day moving average price of $190.17. Darden Restaurants, Inc. has a 52 week low of $135.87 and a 52 week high of $215.03.

Darden Restaurants (NYSE:DRI - Get Free Report) last announced its earnings results on Thursday, March 20th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.80. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The business had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same quarter last year, the firm earned $2.60 EPS. Darden Restaurants's revenue for the quarter was up 6.2% compared to the same quarter last year. Sell-side analysts predict that Darden Restaurants, Inc. will post 9.52 EPS for the current fiscal year.

Darden Restaurants Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Thursday, April 10th. Darden Restaurants's dividend payout ratio is presently 63.13%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DRI. Guggenheim lifted their price target on shares of Darden Restaurants from $205.00 to $220.00 and gave the stock a "buy" rating in a research report on Monday, March 24th. Citigroup upped their target price on shares of Darden Restaurants from $223.00 to $229.00 and gave the company a "buy" rating in a research report on Friday, March 21st. Truist Financial lifted their price objective on Darden Restaurants from $200.00 to $212.00 and gave the stock a "buy" rating in a research note on Monday, March 17th. Stephens increased their target price on Darden Restaurants from $175.00 to $178.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Finally, Barclays boosted their target price on Darden Restaurants from $230.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $201.38.

Insider Buying and Selling

In other Darden Restaurants news, insider Laura B. Williamson sold 2,289 shares of the business's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $207.26, for a total transaction of $474,418.14. Following the sale, the insider now directly owns 10,056 shares of the company's stock, valued at $2,084,206.56. The trade was a 18.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP John W. Madonna sold 1,806 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $207.88, for a total transaction of $375,431.28. Following the transaction, the senior vice president now owns 7,192 shares of the company's stock, valued at approximately $1,495,072.96. This represents a 20.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,613 shares of company stock worth $5,121,492. 0.58% of the stock is owned by insiders.

Darden Restaurants Company Profile

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.