Darden Restaurants, Inc. (NYSE:DRI) Stock Position Lowered by Whittier Trust Co.

Whittier Trust Co. lessened its stake in Darden Restaurants, Inc. (NYSE:DRI) by 0.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,393 shares of the restaurant operator’s stock after selling 70 shares during the quarter. Whittier Trust Co.’s holdings in Darden Restaurants were worth $2,500,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in DRI. Kestra Investment Management LLC acquired a new position in shares of Darden Restaurants during the 4th quarter worth $25,000. Compass Wealth Management LLC acquired a new position in shares of Darden Restaurants during the 4th quarter worth $28,000. TCTC Holdings LLC acquired a new position in shares of Darden Restaurants during the 4th quarter worth $28,000. MCF Advisors LLC increased its stake in shares of Darden Restaurants by 50.9% during the 4th quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator’s stock worth $33,000 after purchasing an additional 59 shares during the last quarter. Finally, HHM Wealth Advisors LLC increased its stake in shares of Darden Restaurants by 103.2% during the 4th quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator’s stock worth $47,000 after purchasing an additional 129 shares during the last quarter. Institutional investors and hedge funds own 93.64% of the company’s stock.

Darden Restaurants Price Performance

NYSE:DRI opened at $199.92 on Friday. The company has a 50-day moving average of $192.08 and a 200-day moving average of $176.60. The company has a market capitalization of $23.42 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 2.15 and a beta of 1.27. Darden Restaurants, Inc. has a 52 week low of $135.87 and a 52 week high of $203.47. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.23 and a current ratio of 0.37.

Darden Restaurants (NYSE:DRI) 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. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.22 billion. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm earned $2.60 EPS. As a group, equities research analysts anticipate that Darden Restaurants, Inc. will post 9.52 earnings per share for the current fiscal year.

Darden Restaurants Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, April 10th. Darden Restaurants’s dividend payout ratio (DPR) is currently 64.15%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DRI shares. Bank of America increased their price target on shares of Darden Restaurants from $230.00 to $238.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company raised their target price on shares of Darden Restaurants from $180.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday. 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. The Goldman Sachs Group began coverage on shares of Darden Restaurants in a research note on Thursday, December 5th. They issued a “neutral” rating and a $183.00 target price on the stock. Finally, Truist Financial raised their target price on shares of Darden Restaurants from $200.00 to $212.00 and gave the company a “buy” rating in a research note on Monday, March 17th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.36.

Insider Buying and Selling

In related news, insider Todd Burrowes sold 15,783 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $183.03, for a total transaction of $2,888,762.49. Following the completion of the sale, the insider now owns 46,288 shares in the company, valued at $8,472,092.64. This trade represents a 25.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Rajesh Vennam sold 7,228 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $181.71, for a total transaction of $1,313,399.88. Following the sale, the chief financial officer now owns 10,262 shares of the company’s stock, valued at $1,864,708.02. This trade represents a 41.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,926 shares of company stock worth $9,850,129 in the last quarter. 0.58% of the stock is owned by corporate 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.