Valley Wealth Managers Inc. Purchases 5,187 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Valley Wealth Managers Inc. increased its position in shares of Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 108,745 shares of the restaurant operator's stock after purchasing an additional 5,187 shares during the period. Valley Wealth Managers Inc. owned approximately 0.09% of Darden Restaurants worth $17,867,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Fortitude Family Office LLC acquired a new stake in shares of Darden Restaurants in the fourth quarter valued at approximately $29,000. Hartford Financial Management Inc. raised its holdings in Darden Restaurants by 65.1% in the 4th quarter. Hartford Financial Management Inc. now owns 180 shares of the restaurant operator's stock valued at $30,000 after acquiring an additional 71 shares in the last quarter. Tennessee Valley Asset Management Partners bought a new stake in shares of Darden Restaurants during the 4th quarter valued at $33,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Darden Restaurants during the 4th quarter valued at $35,000. Finally, Ancora Advisors LLC grew its holdings in shares of Darden Restaurants by 324.2% during the 3rd quarter. Ancora Advisors LLC now owns 280 shares of the restaurant operator's stock worth $40,000 after purchasing an additional 214 shares in the last quarter. 93.64% of the stock is currently owned by institutional investors.

Insider Activity at Darden Restaurants

In other Darden Restaurants news, insider Melvin John Martin sold 7,673 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $165.52, for a total transaction of $1,270,034.96. Following the completion of the sale, the insider now directly owns 17,208 shares in the company, valued at approximately $2,848,268.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Melvin John Martin sold 7,673 shares of the firm's stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $165.52, for a total transaction of $1,270,034.96. Following the completion of the sale, the insider now owns 17,208 shares of the company's stock, valued at approximately $2,848,268.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director William S. Simon sold 1,219 shares of the business's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $158.21, for a total transaction of $192,857.99. Following the transaction, the director now owns 6,281 shares in the company, valued at approximately $993,717.01. The disclosure for this sale can be found here. Insiders have sold a total of 13,599 shares of company stock worth $2,197,891 over the last quarter. Company insiders own 0.85% of the company's stock.

Darden Restaurants Trading Up 0.9 %

Shares of Darden Restaurants stock traded up $1.33 during trading on Friday, hitting $148.25. The company's stock had a trading volume of 1,082,397 shares, compared to its average volume of 1,282,783. The stock has a market cap of $17.70 billion, a price-to-earnings ratio of 17.38, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.39 and a quick ratio of 0.25. Darden Restaurants, Inc. has a 52 week low of $133.36 and a 52 week high of $176.84. The stock has a 50-day moving average price of $160.77 and a two-hundred day moving average price of $160.22.

Darden Restaurants (NYSE:DRI - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the business earned $2.34 earnings per share. Darden Restaurants's revenue was up 6.8% compared to the same quarter last year. Equities research analysts anticipate that Darden Restaurants, Inc. will post 8.85 EPS for the current fiscal year.

Darden Restaurants announced that its Board of Directors has approved a share repurchase plan on Thursday, March 21st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the restaurant operator to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Darden Restaurants Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 3.53%. The ex-dividend date of this dividend was Tuesday, April 9th. Darden Restaurants's dividend payout ratio is presently 61.43%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DRI shares. Oppenheimer cut their price objective on shares of Darden Restaurants from $186.00 to $182.00 and set an "outperform" rating for the company in a research report on Friday, March 22nd. TD Cowen reiterated a "buy" rating and set a $190.00 price target on shares of Darden Restaurants in a research report on Monday, April 22nd. Morgan Stanley lowered their price objective on shares of Darden Restaurants from $184.00 to $180.00 and set an "overweight" rating for the company in a research report on Friday, March 22nd. JPMorgan Chase & Co. raised their target price on Darden Restaurants from $170.00 to $180.00 and gave the company an "overweight" rating in a report on Tuesday, March 19th. Finally, Citigroup lowered their price target on Darden Restaurants from $200.00 to $192.00 and set a "buy" rating for the company in a report on Friday, March 22nd. Five equities research analysts have rated the stock with a hold rating and fifteen 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 $178.85.

Darden Restaurants Company 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.