Wealth Enhancement Advisory Services LLC Has $2.16 Million Position in Darden Restaurants, Inc. (NYSE:DRI)

Wealth Enhancement Advisory Services LLC raised its stake in Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 14.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,553 shares of the restaurant operator's stock after purchasing an additional 1,437 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Darden Restaurants were worth $2,157,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of DRI. Impact Investors Inc acquired a new stake in shares of Darden Restaurants during the fourth quarter valued at about $405,000. Envestnet Asset Management Inc. increased its holdings in Darden Restaurants by 3.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 358,891 shares of the restaurant operator's stock valued at $67,001,000 after buying an additional 13,074 shares during the last quarter. US Bancorp DE raised its position in shares of Darden Restaurants by 3.2% during the 4th quarter. US Bancorp DE now owns 146,460 shares of the restaurant operator's stock valued at $27,343,000 after acquiring an additional 4,543 shares in the last quarter. Twin Capital Management Inc. bought a new position in shares of Darden Restaurants in the 4th quarter worth about $286,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in Darden Restaurants by 14.7% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 32,853 shares of the restaurant operator's stock worth $6,133,000 after acquiring an additional 4,200 shares during the last quarter. 93.64% of the stock is currently owned by hedge funds and other institutional investors.

Darden Restaurants Stock Up 1.2%

Darden Restaurants stock traded up $2.57 during trading hours on Friday, hitting $217.63. The company had a trading volume of 761,150 shares, compared to its average volume of 1,324,611. Darden Restaurants, Inc. has a fifty-two week low of $135.87 and a fifty-two week high of $218.22. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.37 and a quick ratio of 0.23. The firm has a market capitalization of $25.47 billion, a P/E ratio of 24.93, a price-to-earnings-growth ratio of 2.15 and a beta of 0.75. The firm's fifty day moving average is $202.85 and its 200-day moving average is $192.15.

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

Darden Restaurants Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Thursday, April 10th. Darden Restaurants's dividend payout ratio is 63.13%.

Insider Activity at Darden Restaurants

In other Darden Restaurants news, insider Laura B. Williamson sold 2,289 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 10,056 shares of the company's stock, valued at $2,084,206.56. This represents a 18.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ricardo Cardenas sold 20,518 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $208.19, for a total transaction of $4,271,642.42. Following the transaction, the chief executive officer now owns 58,836 shares in the company, valued at approximately $12,249,066.84. The trade was a 25.86% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,613 shares of company stock valued at $5,121,492. Corporate insiders own 0.58% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on DRI shares. Barclays increased their price objective on shares of Darden Restaurants from $230.00 to $235.00 and gave the stock an "overweight" rating in a report on Friday, March 21st. Wedbush upped their target price on Darden Restaurants from $220.00 to $235.00 and gave the stock an "outperform" rating in a research report on Friday, March 21st. Bank of America raised their target price on Darden Restaurants from $230.00 to $238.00 and gave the company a "buy" rating in a research note on Friday, March 21st. BMO Capital Markets lifted their target price on Darden Restaurants from $175.00 to $190.00 and gave the stock a "market perform" rating in a report on Friday, March 21st. Finally, TD Securities upped their price target on shares of Darden Restaurants from $180.00 to $190.00 and gave the company a "hold" rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $201.77.

About Darden Restaurants

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.