Darden Restaurants, Inc. (NYSE:DRI) Shares Acquired by Peddock Capital Advisors LLC

Peddock Capital Advisors LLC increased its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 18,095 shares of the restaurant operator’s stock after acquiring an additional 197 shares during the period. Darden Restaurants makes up approximately 0.9% of Peddock Capital Advisors LLC’s portfolio, making the stock its 23rd biggest holding. Peddock Capital Advisors LLC’s holdings in Darden Restaurants were worth $2,973,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DRI. Fortitude Family Office LLC purchased a new stake in shares of Darden Restaurants during the 4th quarter worth approximately $29,000. Hartford Financial Management Inc. grew its holdings in Darden Restaurants by 65.1% in the fourth quarter. Hartford Financial Management Inc. now owns 180 shares of the restaurant operator’s stock valued at $30,000 after purchasing an additional 71 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new position in shares of Darden Restaurants in the fourth quarter valued at $33,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Darden Restaurants during the 4th quarter worth $35,000. Finally, Ancora Advisors LLC boosted its position in shares of Darden Restaurants by 324.2% in the 3rd quarter. Ancora Advisors LLC now owns 280 shares of the restaurant operator’s stock worth $40,000 after buying an additional 214 shares in the last quarter. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Darden Restaurants Trading Up 0.0 %

Shares of DRI traded up $0.06 during trading hours on Wednesday, hitting $147.09. The stock had a trading volume of 500,071 shares, compared to its average volume of 1,176,744. Darden Restaurants, Inc. has a 12-month low of $133.36 and a 12-month high of $176.84. The firm has a market cap of $17.56 billion, a P/E ratio of 17.24, a P/E/G ratio of 1.64 and a beta of 1.27. 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 company’s fifty day simple moving average is $162.16 and its 200 day simple moving average is $160.10.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Thursday, March 21st. The restaurant operator reported $2.62 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 during the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter last year, the business earned $2.34 earnings per share. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts forecast that Darden Restaurants, Inc. will post 8.85 EPS for the current fiscal year.

Darden Restaurants Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were given a $1.31 dividend. This represents a $5.24 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Tuesday, April 9th. Darden Restaurants’s payout ratio is currently 61.43%.

Darden Restaurants declared that its board has authorized 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 purchase up to 5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DRI. Truist Financial restated a “buy” rating and set a $190.00 target price on shares of Darden Restaurants in a research report on Friday, March 22nd. Stifel Nicolaus lifted their price objective on Darden Restaurants from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Wedbush lowered their target price on Darden Restaurants from $187.00 to $181.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. TD Cowen reissued a “buy” rating and issued a $190.00 price target on shares of Darden Restaurants in a report on Monday, April 22nd. Finally, BMO Capital Markets increased their price objective on Darden Restaurants from $160.00 to $165.00 and gave the company a “market perform” rating in a research note on Thursday, March 7th. 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 an average price target of $178.85.

Insider Activity

In related news, SVP Matthew R. Broad sold 4,707 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $156.15, for a total transaction of $734,998.05. Following the completion of the sale, the senior vice president now directly owns 19,179 shares of the company’s stock, valued at approximately $2,994,800.85. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director William S. Simon sold 1,219 shares of Darden Restaurants stock in a transaction that occurred 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 sale, the director now owns 6,281 shares in the company, valued at $993,717.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Matthew R. Broad sold 4,707 shares of the company’s stock in a transaction on Thursday, April 25th. The shares were sold at an average price of $156.15, for a total transaction of $734,998.05. Following the completion of the transaction, the senior vice president now owns 19,179 shares of the company’s stock, valued at $2,994,800.85. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,599 shares of company stock valued at $2,197,891. Company insiders own 0.85% of the company’s stock.

About Darden Restaurants

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.