Darden Restaurants, Inc. (NYSE:DRI) Stock Position Lifted by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 7.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,599 shares of the restaurant operator’s stock after buying an additional 332 shares during the period. Frank Rimerman Advisors LLC’s holdings in Darden Restaurants were worth $755,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. ESL Trust Services LLC bought a new position in Darden Restaurants during the 1st quarter worth approximately $27,000. Meeder Asset Management Inc. bought a new position in Darden Restaurants during the 2nd quarter worth approximately $27,000. Wolff Wiese Magana LLC lifted its holdings in Darden Restaurants by 1,690.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 197 shares of the restaurant operator’s stock worth $32,000 after buying an additional 186 shares during the last quarter. Kimelman & Baird LLC bought a new position in Darden Restaurants during the 2nd quarter worth approximately $30,000. Finally, Innealta Capital LLC acquired a new stake in shares of Darden Restaurants during the 2nd quarter worth approximately $31,000. Institutional investors own 93.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Bank of America increased their price target on Darden Restaurants from $184.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Truist Financial raised their target price on Darden Restaurants from $185.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, September 20th. JPMorgan Chase & Co. raised their target price on Darden Restaurants from $165.00 to $176.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Stephens restated an “equal weight” rating and issued a $164.00 target price on shares of Darden Restaurants in a research report on Monday, October 14th. Finally, Barclays raised their target price on Darden Restaurants from $180.00 to $192.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Darden Restaurants presently has an average rating of “Moderate Buy” and an average target price of $180.13.

Insider Buying and Selling

In related news, Director Nana Mensah sold 1,171 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $171.90, for a total transaction of $201,294.90. Following the completion of the sale, the director now directly owns 10 shares in the company, valued at approximately $1,719. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Douglas J. Milanes sold 5,705 shares of Darden Restaurants stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $172.04, for a total value of $981,488.20. Following the transaction, the senior vice president now directly owns 3,834 shares in the company, valued at approximately $659,601.36. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nana Mensah sold 1,171 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $171.90, for a total value of $201,294.90. Following the transaction, the director now owns 10 shares in the company, valued at $1,719. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,206 shares of company stock worth $12,460,313. Corporate insiders own 0.85% of the company’s stock.

Darden Restaurants Stock Performance

Shares of Darden Restaurants stock opened at $159.92 on Monday. The stock has a market cap of $19.09 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 1.83 and a beta of 1.30. The business has a fifty day simple moving average of $160.58 and a 200-day simple moving average of $152.53. The company has a quick ratio of 0.22, a current ratio of 0.35 and a debt-to-equity ratio of 0.65. Darden Restaurants, Inc. has a 12 month low of $135.87 and a 12 month high of $176.84.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, September 19th. The restaurant operator reported $1.75 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.08). The business had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.80 billion. Darden Restaurants had a return on equity of 49.46% and a net margin of 9.11%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the business earned $1.78 EPS. On average, sell-side analysts anticipate that Darden Restaurants, Inc. will post 9.47 EPS for the current fiscal year.

Darden Restaurants Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.50%. This is a positive change from Darden Restaurants’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Thursday, October 10th. Darden Restaurants’s dividend payout ratio (DPR) is currently 65.73%.

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.