Zurich Insurance Group Ltd FI Acquires 3,160 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Zurich Insurance Group Ltd FI boosted its position in shares of Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 31.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,160 shares of the restaurant operator's stock after purchasing an additional 3,160 shares during the period. Zurich Insurance Group Ltd FI's holdings in Darden Restaurants were worth $2,457,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Kestra Investment Management LLC acquired a new stake in shares of Darden Restaurants in the fourth quarter worth about $25,000. Compass Wealth Management LLC acquired a new stake in shares of Darden Restaurants in the fourth quarter worth about $28,000. TCTC Holdings LLC acquired a new stake in shares of Darden Restaurants in the fourth quarter worth about $28,000. MCF Advisors LLC lifted its position in shares of Darden Restaurants by 50.9% in the fourth quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator's stock worth $33,000 after buying an additional 59 shares during the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in shares of 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 buying an additional 129 shares during the last quarter. Institutional investors and hedge funds own 93.64% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on DRI. UBS Group boosted their price target on Darden Restaurants from $210.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. BMO Capital Markets boosted their price objective on Darden Restaurants from $175.00 to $190.00 and gave the stock a "market perform" rating in a research report on Friday, March 21st. Stephens boosted their price target 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. Wells Fargo & Company boosted their price target on Darden Restaurants from $180.00 to $200.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Finally, Guggenheim upped their price objective on Darden Restaurants from $205.00 to $220.00 and gave the company a "buy" rating in a research note on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $201.38.

Darden Restaurants Trading Up 0.1%

Shares of DRI stock traded up $0.28 during trading hours on Friday, reaching $204.16. The company had a trading volume of 901,463 shares, compared to its average volume of 1,315,390. The company has a 50 day moving average of $200.98 and a 200 day moving average of $189.32. 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 cap of $23.89 billion, a price-to-earnings ratio of 23.39, a P/E/G ratio of 2.15 and a beta of 0.74. Darden Restaurants, Inc. has a 1-year low of $135.87 and a 1-year high of $211.82.

Darden Restaurants (NYSE:DRI - Get Free Report) last posted 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. The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.22 billion. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The firm's quarterly revenue was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.60 EPS. On average, equities research 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. Stockholders of record on Thursday, April 10th were paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Thursday, April 10th. Darden Restaurants's dividend payout ratio (DPR) is currently 63.13%.

Insider Buying and Selling

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

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.