6,798 Shares in Darden Restaurants, Inc. (NYSE:DRI) Bought by GAM Holding AG

GAM Holding AG purchased a new position in Darden Restaurants, Inc. (NYSE:DRI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 6,798 shares of the restaurant operator's stock, valued at approximately $1,117,000.

Other large investors have also recently modified their holdings of the company. WealthShield Partners LLC raised its position in Darden Restaurants by 15.0% in the 4th quarter. WealthShield Partners LLC now owns 8,990 shares of the restaurant operator's stock worth $1,477,000 after buying an additional 1,174 shares during the last quarter. Trust Point Inc. purchased a new position in Darden Restaurants in the 4th quarter worth about $418,000. DAVENPORT & Co LLC purchased a new position in Darden Restaurants in the 4th quarter worth about $250,000. Oak Thistle LLC purchased a new position in Darden Restaurants in the 4th quarter worth about $577,000. Finally, Cigna Investments Inc. New purchased a new position in Darden Restaurants in the 4th quarter worth about $205,000. Hedge funds and other institutional investors own 93.64% of the company's stock.

Insider Activity at Darden Restaurants

In related news, SVP John W. Madonna sold 3,836 shares of the firm's stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $163.80, for a total transaction of $628,336.80. Following the sale, the senior vice president now owns 6,971 shares of the company's stock, valued at $1,141,849.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Darden Restaurants news, SVP Matthew R. Broad sold 6,831 shares of the firm's stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $163.26, for a total value of $1,115,229.06. Following the completion of the sale, the senior vice president now owns 19,141 shares of the company's stock, valued at $3,124,959.66. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP John W. Madonna sold 3,836 shares of the firm's stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $163.80, for a total value of $628,336.80. Following the completion of the sale, the senior vice president now directly owns 6,971 shares of the company's stock, valued at approximately $1,141,849.80. The disclosure for this sale can be found here. Insiders have sold a total of 18,340 shares of company stock valued at $3,013,601 over the last quarter. 0.85% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on DRI shares. Wedbush reduced their price target on shares of Darden Restaurants from $187.00 to $181.00 and set an "outperform" rating for the company in a research report on Friday, March 22nd. Citigroup reduced their price target on shares of Darden Restaurants from $200.00 to $192.00 and set a "buy" rating for the company in a research report on Friday, March 22nd. Truist Financial reaffirmed a "buy" rating and set a $190.00 price target on shares of Darden Restaurants in a research report on Friday, March 22nd. TD Cowen reaffirmed an "outperform" rating and set a $190.00 price target on shares of Darden Restaurants in a research report on Thursday, March 21st. Finally, Evercore ISI upped their price target on shares of Darden Restaurants from $160.00 to $170.00 and gave the company an "in-line" rating in a research report on Tuesday, December 12th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $178.85.

Darden Restaurants Trading Down 2.7 %

DRI stock traded down $4.47 during midday trading on Thursday, reaching $158.51. The company's stock had a trading volume of 1,827,384 shares, compared to its average volume of 1,146,649. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.25 and a current ratio of 0.39. The stock has a fifty day simple moving average of $167.52 and a two-hundred day simple moving average of $157.87. Darden Restaurants, Inc. has a 1 year low of $133.36 and a 1 year high of $176.84. The firm has a market capitalization of $18.93 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.80 and a beta of 1.25.

Darden Restaurants (NYSE:DRI - Get Free Report) last posted its quarterly earnings results on Thursday, March 21st. The restaurant operator reported $2.62 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.63 by ($0.01). Darden Restaurants had a return on equity of 49.94% and a net margin of 9.24%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the previous year, the company posted $2.34 EPS. Darden Restaurants's quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts predict that Darden Restaurants, Inc. will post 8.85 EPS for the current year.

Darden Restaurants announced that its Board of Directors has authorized a stock repurchase program on Thursday, March 21st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the restaurant operator to reacquire up to 5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Darden Restaurants Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date is Tuesday, April 9th. Darden Restaurants's payout ratio is 61.43%.

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.