Skba Capital Management LLC Raises Holdings in Darden Restaurants, Inc. (NYSE:DRI)

Skba Capital Management LLC boosted its stake in Darden Restaurants, Inc. (NYSE:DRIFree Report) by 20.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,910 shares of the restaurant operator’s stock after purchasing an additional 17,700 shares during the quarter. Darden Restaurants makes up 2.7% of Skba Capital Management LLC’s investment portfolio, making the stock its 6th largest position. Skba Capital Management LLC owned about 0.09% of Darden Restaurants worth $14,882,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in DRI. Union Savings Bank bought a new stake in shares of Darden Restaurants during the 2nd quarter valued at about $25,000. Quarry LP boosted its position in shares of Darden Restaurants by 980.0% during the 2nd quarter. Quarry LP now owns 162 shares of the restaurant operator’s stock valued at $27,000 after acquiring an additional 147 shares during the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of Darden Restaurants during the 4th quarter valued at about $29,000. Clear Street Markets LLC boosted its position 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 valued at $37,000 after acquiring an additional 116 shares during the last quarter. Finally, Quilter Plc bought a new stake in shares of Darden Restaurants during the 1st quarter valued at about $297,900,000. Institutional investors own 94.53% of the company’s stock.

Darden Restaurants Stock Down 1.3 %

Darden Restaurants stock traded down $2.19 during mid-day trading on Monday, hitting $165.47. The company had a trading volume of 108,817 shares, compared to its average volume of 945,059. The company has a current ratio of 0.36, a quick ratio of 0.23 and a debt-to-equity ratio of 0.67. The stock’s 50 day moving average price is $162.37 and its two-hundred day moving average price is $155.04. Darden Restaurants, Inc. has a 12 month low of $133.36 and a 12 month high of $173.06. The company has a market capitalization of $19.76 billion, a PE 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, topping the consensus estimate of $1.74 by $0.10. The business had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.74 billion. Darden Restaurants had a return on equity of 49.39% and a net margin of 9.16%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.52 earnings per share. As a group, sell-side analysts anticipate that Darden Restaurants, Inc. will post 8.86 earnings per share for the current fiscal year.

Darden Restaurants Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DRI shares. Stephens reiterated an “overweight” rating and set a $170.00 price target on shares of Darden Restaurants in a research report on Monday, December 18th. Raymond James raised 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. 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. KeyCorp raised their price objective on Darden Restaurants from $175.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Finally, BMO Capital Markets raised their price objective on Darden Restaurants from $155.00 to $160.00 and gave the company a “market perform” rating in a report on Monday, December 18th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.83.

View Our Latest Stock Analysis on Darden Restaurants

Insider Activity at Darden Restaurants

In related news, insider Melvin John Martin sold 6,967 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $165.12, for a total transaction of $1,150,391.04. Following the completion of the sale, the insider now owns 17,159 shares in the company, valued at $2,833,294.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Melvin John Martin sold 6,967 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $165.12, for a total transaction of $1,150,391.04. Following the completion of the sale, the insider now owns 17,159 shares in the company, valued at $2,833,294.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Douglas J. Milanes sold 3,496 shares of the company’s stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $166.34, for a total value of $581,524.64. Following the completion of the sale, the senior vice president now owns 5,458 shares of the company’s stock, valued at approximately $907,883.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,130 shares of company stock worth $3,475,482. 0.85% of the stock is owned by insiders.

Darden Restaurants Company 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.

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

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