Avantax Advisory Services Inc. Boosts Position in Darden Restaurants, Inc. (NYSE:DRI)

Avantax Advisory Services Inc. boosted its position in Darden Restaurants, Inc. (NYSE:DRI) by 2.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,092 shares of the restaurant operator’s stock after purchasing an additional 191 shares during the period. Avantax Advisory Services Inc.’s holdings in Darden Restaurants were worth $1,697,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in shares of Darden Restaurants in the fourth quarter worth approximately $25,000. Compass Wealth Management LLC bought a new position in Darden Restaurants in the fourth quarter worth approximately $28,000. MCF Advisors LLC boosted 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 acquiring an additional 59 shares during the last quarter. HHM Wealth Advisors LLC grew its position 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 valued at $47,000 after acquiring an additional 129 shares during the period. Finally, Webster Bank N. A. purchased a new stake in shares of Darden Restaurants in the 4th quarter worth $51,000. 93.64% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Douglas J. Milanes sold 7,892 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $195.95, for a total transaction of $1,546,437.40. Following the transaction, the senior vice president now owns 3,914 shares of the company’s stock, valued at approximately $766,948.30. This represents a 66.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Rajesh Vennam sold 7,228 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 10,262 shares of the company’s stock, valued at $1,864,708.02. This represents a 41.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,926 shares of company stock valued at $9,850,129. 0.58% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group boosted their price target on Darden Restaurants from $195.00 to $210.00 and gave the company a “buy” rating in a report on Friday, December 20th. Morgan Stanley increased their target price on shares of Darden Restaurants from $193.00 to $209.00 and gave the stock an “overweight” rating in a report on Monday, December 23rd. Wedbush lifted their price target on shares of Darden Restaurants from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Stephens reiterated an “equal weight” rating and issued a $175.00 price target on shares of Darden Restaurants in a research report on Thursday, March 13th. Finally, KeyCorp raised their price objective on shares of Darden Restaurants from $194.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.00.

Darden Restaurants Stock Performance

Darden Restaurants stock opened at $187.63 on Tuesday. The company has a quick ratio of 0.23, a current ratio of 0.37 and a debt-to-equity ratio of 1.02. Darden Restaurants, Inc. has a twelve month low of $135.87 and a twelve month high of $203.12. The company’s 50-day moving average price is $191.22 and its 200-day moving average price is $175.86. The company has a market cap of $21.98 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.15 and a beta of 1.27.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, December 19th. The restaurant operator reported $2.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.03. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.87 billion. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.84 earnings per share. On average, equities research analysts forecast that Darden Restaurants, Inc. will post 9.52 EPS for the current fiscal year.

Darden Restaurants Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Friday, January 10th. Darden Restaurants’s payout ratio is 64.15%.

Darden Restaurants Company 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.