First Financial Bank Trust Division Has $6 Million Position in Darden Restaurants, Inc. (NYSE:DRI)

First Financial Bank Trust Division trimmed its position in Darden Restaurants, Inc. (NYSE:DRI) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,134 shares of the restaurant operator’s stock after selling 897 shares during the quarter. First Financial Bank Trust Division’s holdings in Darden Restaurants were worth $5,999,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC increased its holdings in shares of Darden Restaurants by 96,162.9% during the third quarter. Mizuho Securities USA LLC now owns 8,861,000 shares of the restaurant operator’s stock worth $1,454,356,000 after purchasing an additional 8,851,795 shares during the period. Massachusetts Financial Services Co. MA grew its position in Darden Restaurants by 111.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,469,083 shares of the restaurant operator’s stock worth $241,121,000 after buying an additional 772,907 shares in the last quarter. International Assets Investment Management LLC increased its stake in Darden Restaurants by 16,996.9% during the 3rd quarter. International Assets Investment Management LLC now owns 377,500 shares of the restaurant operator’s stock worth $61,959,000 after acquiring an additional 375,292 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Darden Restaurants in the 3rd quarter valued at $40,048,000. Finally, Toronto Dominion Bank lifted its position in shares of Darden Restaurants by 139.9% during the 2nd quarter. Toronto Dominion Bank now owns 352,344 shares of the restaurant operator’s stock valued at $53,317,000 after acquiring an additional 205,450 shares during the period. Institutional investors own 93.64% of the company’s stock.

Darden Restaurants Trading Down 0.1 %

Shares of Darden Restaurants stock traded down $0.18 during trading on Thursday, hitting $186.51. The company’s stock had a trading volume of 863,170 shares, compared to its average volume of 1,250,779. The stock has a market cap of $21.91 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 1.90 and a beta of 1.31. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.35 and a quick ratio of 0.22. Darden Restaurants, Inc. has a 52 week low of $135.87 and a 52 week high of $189.18. The stock has a 50-day moving average price of $170.83 and a two-hundred day moving average price of $159.45.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Thursday, December 19th. The restaurant operator reported $2.03 EPS for the quarter, meeting analysts’ consensus estimates of $2.03. The firm had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.87 billion. Darden Restaurants had a return on equity of 49.46% and a net margin of 9.11%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.84 EPS. Equities research analysts anticipate that Darden Restaurants, Inc. will post 9.47 EPS for the current fiscal year.

Darden Restaurants Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $1.40 dividend. The ex-dividend date is Friday, January 10th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.00%. Darden Restaurants’s dividend payout ratio (DPR) is currently 64.15%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on DRI shares. UBS Group raised their price target on Darden Restaurants from $195.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Stifel Nicolaus raised their target price on shares of Darden Restaurants from $190.00 to $205.00 and gave the company a “buy” rating in a report on Friday, December 20th. Stephens boosted their target price on shares of Darden Restaurants from $164.00 to $175.00 and gave the company an “equal weight” rating in a research report on Friday, December 20th. Truist Financial increased their price target on shares of Darden Restaurants from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Citigroup lowered their price objective on shares of Darden Restaurants from $209.00 to $206.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $187.44.

Insider Activity

In other news, CFO Rajesh Vennam sold 7,228 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $181.71, for a total value of $1,313,399.88. Following the transaction, the chief financial officer now directly owns 10,262 shares of the company’s stock, valued at $1,864,708.02. The trade was a 41.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Melvin John Martin sold 3,000 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $163.30, for a total value of $489,900.00. Following the sale, the insider now owns 12,601 shares in the company, valued at approximately $2,057,743.30. The trade was a 19.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

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.