TrueMark Investments LLC Acquires Shares of 22,874 Darden Restaurants, Inc. $DRI

Key Points

• TrueMark Investments LLC acquired 22,874 shares of Darden Restaurants, Inc. for approximately $4,986,000 during the second quarter.
• Darden reported earnings of $1.97 per share for the last quarter, missing the consensus estimate of $2.01, while generating $3.04 billion in revenue.
• The firm announced a quarterly dividend of $1.50 per share, translating to an annualized dividend yield of 3.2% and a payout ratio of 64.31%.

TrueMark Investments LLC acquired a new stake in Darden Restaurants, Inc. (NYSE:DRI - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 22,874 shares of the restaurant operator's stock, valued at approximately $4,986,000.

A number of other large investors have also recently made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its stake in shares of Darden Restaurants by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,998,200 shares of the restaurant operator's stock valued at $830,666,000 after buying an additional 247,542 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of Darden Restaurants by 4.6% during the first quarter. Raymond James Financial Inc. now owns 3,601,340 shares of the restaurant operator's stock valued at $748,215,000 after purchasing an additional 157,305 shares in the last quarter. Hamlin Capital Management LLC lifted its position in shares of Darden Restaurants by 0.5% during the second quarter. Hamlin Capital Management LLC now owns 918,387 shares of the restaurant operator's stock valued at $200,181,000 after purchasing an additional 4,989 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of 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 valued at $129,943,000 after purchasing an additional 37,878 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of Darden Restaurants during the first quarter valued at about $84,801,000. 93.64% of the stock is owned by institutional investors.

Darden Restaurants Stock Performance

NYSE DRI opened at $188.16 on Friday. Darden Restaurants, Inc. has a 52-week low of $157.89 and a 52-week high of $228.27. The company has a 50-day simple moving average of $199.61 and a 200 day simple moving average of $204.87. 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 company has a market capitalization of $21.88 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.72 and a beta of 0.77.

Darden Restaurants (NYSE:DRI - Get Free Report) last posted its earnings results on Thursday, September 18th. The restaurant operator reported $1.97 earnings per share for the quarter, missing the consensus estimate of $2.01 by ($0.04). The business had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $3.03 billion. Darden Restaurants had a return on equity of 52.35% and a net margin of 8.90%.Darden Restaurants's revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.75 EPS. Darden Restaurants has set its FY 2026 guidance at 10.500-10.700 EPS. On average, research analysts predict that Darden Restaurants, Inc. will post 9.52 EPS for the current year.

Darden Restaurants Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Friday, October 10th will be paid a $1.50 dividend. The ex-dividend date is Friday, October 10th. This represents a $6.00 annualized dividend and a dividend yield of 3.2%. Darden Restaurants's dividend payout ratio (DPR) is presently 64.31%.

Insider Activity

In other news, insider Laura B. Williamson sold 1,157 shares of Darden Restaurants stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $204.70, for a total value of $236,837.90. Following the completion of the transaction, the insider owned 10,632 shares in the company, valued at $2,176,370.40. This trade represents a 9.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew R. Broad sold 5,661 shares of Darden Restaurants stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $193.40, for a total transaction of $1,094,837.40. Following the completion of the transaction, the senior vice president owned 13,916 shares of the company's stock, valued at $2,691,354.40. The trade was a 28.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,674 shares of company stock valued at $1,507,575 in the last quarter. Corporate insiders own 0.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DRI shares. BTIG Research dropped their price target on shares of Darden Restaurants from $235.00 to $225.00 and set a "buy" rating on the stock in a research report on Friday, September 19th. Bank of America raised their price target on shares of Darden Restaurants from $253.00 to $254.00 and gave the company a "buy" rating in a research report on Tuesday, September 16th. Weiss Ratings reissued a "buy (b)" rating on shares of Darden Restaurants in a research report on Wednesday, October 8th. Evercore ISI decreased their price objective on shares of Darden Restaurants from $245.00 to $240.00 and set an "outperform" rating for the company in a report on Friday, September 19th. Finally, Robert W. Baird decreased their price objective on shares of Darden Restaurants from $230.00 to $208.00 and set a "neutral" rating for the company in a report on Friday, September 19th. Nineteen analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $225.59.

Darden Restaurants 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.

Want to see what other hedge funds are holding DRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darden Restaurants, Inc. (NYSE:DRI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.