Vise Technologies Inc. Takes Position in Darden Restaurants, Inc. (NYSE:DRI)

Vise Technologies Inc. acquired a new stake in Darden Restaurants, Inc. (NYSE:DRI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 1,443 shares of the restaurant operator's stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DRI. Kestra Investment Management LLC acquired a new stake in Darden Restaurants in the 4th quarter valued at about $25,000. TCTC Holdings LLC acquired a new stake in Darden Restaurants in the 4th quarter valued at about $28,000. HHM Wealth Advisors LLC increased its position in Darden Restaurants by 103.2% in the 4th quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator's stock valued at $47,000 after acquiring an additional 129 shares in the last quarter. Webster Bank N. A. acquired a new stake in Darden Restaurants in the 4th quarter valued at about $51,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Darden Restaurants in the 4th quarter valued at about $61,000. Institutional investors and hedge funds own 93.64% of the company's stock.

Darden Restaurants Stock Up 0.3%

DRI traded up $0.59 during trading on Friday, reaching $214.30. The company had a trading volume of 1,415,696 shares, compared to its average volume of 1,324,366. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.37 and a quick ratio of 0.23. Darden Restaurants, Inc. has a 12 month low of $135.87 and a 12 month high of $215.68. The business's fifty day moving average price is $202.11 and its 200 day moving average price is $190.80. The company has a market cap of $25.08 billion, a P/E ratio of 24.55, a PEG ratio of 2.15 and a beta of 0.74.

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

Darden Restaurants Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date of this dividend was Thursday, April 10th. Darden Restaurants's payout ratio is currently 63.13%.

Insider Buying and Selling at Darden Restaurants

In other news, insider Laura B. Williamson sold 2,289 shares of Darden Restaurants stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $207.26, for a total value of $474,418.14. Following the sale, the insider now directly owns 10,056 shares in the company, valued at $2,084,206.56. This trade represents a 18.54% 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 John W. Madonna sold 1,806 shares of Darden Restaurants stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $207.88, for a total transaction of $375,431.28. Following the completion of the sale, the senior vice president now owns 7,192 shares in the company, valued at $1,495,072.96. This trade represents a 20.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,613 shares of company stock valued at $5,121,492. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on DRI. Barclays raised their target price on shares of Darden Restaurants from $230.00 to $235.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Morgan Stanley raised their target price on shares of Darden Restaurants from $209.00 to $217.00 and gave the company an "overweight" rating in a research note on Friday, March 21st. Robert W. Baird reduced their target price on shares of Darden Restaurants from $210.00 to $192.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Citigroup raised their target price on shares of Darden Restaurants from $223.00 to $229.00 and gave the company a "buy" rating in a research note on Friday, March 21st. Finally, BMO Capital Markets raised their target price on shares of Darden Restaurants from $175.00 to $190.00 and gave the company a "market perform" rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $201.38.

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.