Darden Restaurants, Inc. (NYSE:DRI) Stock Position Lessened by Foundry Partners LLC

Foundry Partners LLC cut its position in shares of Darden Restaurants, Inc. (NYSE:DRIFree Report) by 39.3% in the third quarter, Holdings Channel reports. The firm owned 65,183 shares of the restaurant operator’s stock after selling 42,255 shares during the period. Foundry Partners LLC’s holdings in Darden Restaurants were worth $9,336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DRI. Union Savings Bank purchased a new stake in shares of Darden Restaurants during the 2nd quarter worth about $25,000. Quarry LP raised its stake in shares of Darden Restaurants by 980.0% during the 2nd quarter. Quarry LP now owns 162 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 147 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of Darden Restaurants during the 4th quarter worth about $29,000. Clear Street Markets LLC raised its stake in shares of Darden Restaurants by 93.5% during the 1st quarter. Clear Street Markets LLC now owns 240 shares of the restaurant operator’s stock worth $37,000 after purchasing an additional 116 shares in the last quarter. Finally, HHM Wealth Advisors LLC increased its holdings in shares of Darden Restaurants by 59.5% during the 3rd quarter. HHM Wealth Advisors LLC now owns 335 shares of the restaurant operator’s stock valued at $48,000 after acquiring an additional 125 shares during the last quarter. 94.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DRI shares. Evercore ISI increased their price objective on Darden Restaurants from $160.00 to $170.00 and gave the company an “in-line” rating in a report on Tuesday, December 12th. Barclays increased their price objective on Darden Restaurants from $180.00 to $187.00 and gave the company an “overweight” rating in a report on Wednesday, January 3rd. Truist Financial reissued a “buy” rating and set a $190.00 price objective on shares of Darden Restaurants in a report on Monday, December 18th. Raymond James increased their price objective on Darden Restaurants from $155.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, December 18th. Finally, StockNews.com lowered Darden Restaurants from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Five research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, Darden Restaurants currently has an average rating of “Moderate Buy” and an average target price of $174.83.

Check Out Our Latest Stock Report on Darden Restaurants

Insider Activity

In other news, SVP Matthew R. Broad sold 6,831 shares of Darden Restaurants stock in a transaction on 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 directly owns 19,141 shares of the company’s stock, valued at approximately $3,124,959.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Darden Restaurants news, insider Melvin John Martin sold 6,967 shares of the business’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $165.12, for a total value of $1,150,391.04. Following the completion of the transaction, the insider now directly owns 17,159 shares of the company’s stock, valued at $2,833,294.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Matthew R. Broad sold 6,831 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $163.26, for a total value of $1,115,229.06. Following the completion of the transaction, the senior vice president now directly owns 19,141 shares of the company’s stock, valued at $3,124,959.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,130 shares of company stock valued at $3,475,482. Company insiders own 0.85% of the company’s stock.

Darden Restaurants Price Performance

DRI traded down $2.25 during trading on Monday, hitting $165.41. The company’s stock had a trading volume of 127,803 shares, compared to its average volume of 945,994. The firm’s 50 day moving average price is $162.37 and its two-hundred day moving average price is $155.04. The company has a quick ratio of 0.23, a current ratio of 0.36 and a debt-to-equity ratio of 0.67. Darden Restaurants, Inc. has a 12 month low of $133.36 and a 12 month high of $173.06. The stock has a market capitalization of $19.75 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 2.38 and a beta of 1.27.

Darden Restaurants (NYSE:DRIGet Free Report) last released its earnings results on Friday, December 15th. The restaurant operator reported $1.84 EPS for the quarter, beating the consensus estimate of $1.74 by $0.10. The company had revenue of $2.73 billion during the quarter, compared to analysts’ expectations of $2.74 billion. Darden Restaurants had a return on equity of 49.39% and a net margin of 9.16%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $1.52 EPS. Sell-side analysts forecast that Darden Restaurants, Inc. will post 8.86 earnings per share for the current fiscal year.

Darden Restaurants Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were paid a $1.31 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $5.24 annualized dividend and a dividend yield of 3.17%. Darden Restaurants’s dividend payout ratio (DPR) is currently 63.36%.

Darden Restaurants Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding DRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darden Restaurants, Inc. (NYSE:DRIFree Report).

Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

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