Peddock Capital Advisors LLC Buys 197 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Peddock Capital Advisors LLC lifted its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 1.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,095 shares of the restaurant operator’s stock after acquiring an additional 197 shares during the period. Darden Restaurants makes up about 0.9% of Peddock Capital Advisors LLC’s holdings, making the stock its 23rd largest holding. Peddock Capital Advisors LLC’s holdings in Darden Restaurants were worth $2,973,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC acquired a new stake in Darden Restaurants in the 4th quarter worth approximately $29,000. Hartford Financial Management Inc. raised its position in shares of 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 period. Tennessee Valley Asset Management Partners acquired a new stake in shares of Darden Restaurants in the fourth quarter worth $33,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Darden Restaurants in the fourth quarter worth $35,000. Finally, Ancora Advisors LLC boosted its holdings in shares of Darden Restaurants by 324.2% during 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 during the period. Institutional investors and hedge funds own 93.64% of the company’s stock.

Darden Restaurants Price Performance

DRI traded up $0.06 during midday trading on Wednesday, hitting $147.09. The company had a trading volume of 500,071 shares, compared to its average volume of 1,176,744. Darden Restaurants, Inc. has a twelve month low of $133.36 and a twelve month high of $176.84. The firm’s 50-day simple moving average is $162.16 and its 200-day simple moving average is $160.10. The company has a market capitalization of $17.56 billion, a PE 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.

Darden Restaurants (NYSE:DRI) last announced 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 analyst estimates of $3.02 billion. During the same quarter in the previous year, the business earned $2.34 earnings per share. Darden Restaurants’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities research analysts predict that Darden Restaurants, Inc. will post 8.85 EPS for the current fiscal year.

Darden Restaurants Dividend Announcement

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

Darden Restaurants announced that its Board of Directors has approved a stock buyback program on Thursday, March 21st that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the restaurant operator to buy up to 5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Stifel Nicolaus boosted their target price on shares of Darden Restaurants from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. TD Cowen reissued a “buy” rating and set a $190.00 price objective on shares of Darden Restaurants in a research report on Monday, April 22nd. JPMorgan Chase & Co. raised their price objective on shares of Darden Restaurants from $170.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Oppenheimer cut their target price on shares of Darden Restaurants from $186.00 to $182.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Morgan Stanley decreased their price target on shares of Darden Restaurants from $184.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $178.85.

Insider Buying and Selling at Darden Restaurants

In other news, Director William S. Simon sold 1,219 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $158.21, for a total value of $192,857.99. Following the transaction, the director now owns 6,281 shares of the company’s stock, valued at approximately $993,717.01. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director William S. Simon sold 1,219 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $158.21, for a total value of $192,857.99. Following the completion of the sale, the director now directly owns 6,281 shares of the company’s stock, valued at approximately $993,717.01. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Matthew R. Broad sold 4,707 shares of Darden Restaurants stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $156.15, for a total transaction of $734,998.05. Following the transaction, the senior vice president now directly owns 19,179 shares in the company, valued at approximately $2,994,800.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,599 shares of company stock valued at $2,197,891. 0.85% of the stock is currently owned by insiders.

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.