Darden Restaurants, Inc. $DRI Stock Sold by Hamlin Capital Management LLC

Hamlin Capital Management LLC reduced its stake in Darden Restaurants, Inc. (NYSE:DRI) by 12.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 723,779 shares of the restaurant operator’s stock after selling 98,806 shares during the quarter. Darden Restaurants comprises approximately 3.4% of Hamlin Capital Management LLC’s holdings, making the stock its 15th largest position. Hamlin Capital Management LLC’s holdings in Darden Restaurants were worth $139,870,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DRI. Union Savings Bank bought a new stake in Darden Restaurants in the fourth quarter worth $28,000. Bell Investment Advisors Inc purchased a new position in shares of Darden Restaurants in the 2nd quarter worth about $28,000. Transamerica Financial Advisors LLC bought a new position in Darden Restaurants in the 2nd quarter worth about $34,000. HHM Wealth Advisors LLC increased its stake in Darden Restaurants by 44.8% during the 1st quarter. HHM Wealth Advisors LLC now owns 181 shares of the restaurant operator’s stock valued at $35,000 after purchasing an additional 56 shares in the last quarter. Finally, Keating Financial Advisory Services Inc. purchased a new position in Darden Restaurants in the second quarter worth about $39,000. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Darden Restaurants Stock Performance

Shares of NYSE DRI traded up $0.51 during midday trading on Thursday, hitting $202.00. 338,786 shares of the company’s stock traded hands, compared to its average volume of 1,336,259. The firm has a fifty day moving average of $211.89 and a 200 day moving average of $204.49. Darden Restaurants, Inc. has a 1 year low of $169.00 and a 1 year high of $229.76. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.20 and a current ratio of 0.30. The stock has a market capitalization of $22.85 billion, a price-to-earnings ratio of 19.73, a price-to-earnings-growth ratio of 1.90 and a beta of 0.63.

Darden Restaurants (NYSE:DRI) last announced its earnings results on Thursday, September 24th. The restaurant operator reported $2.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.05. Darden Restaurants had a net margin of 8.85% and a return on equity of 58.64%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.21 billion. During the same period in the previous year, the business posted $1.97 earnings per share. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. Darden Restaurants has set its FY 2027 guidance at 11.100-11.350 EPS. On average, analysts forecast that Darden Restaurants, Inc. will post 11.24 earnings per share for the current year.

Darden Restaurants Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be paid a $1.62 dividend. This represents a $6.48 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Friday, October 9th. Darden Restaurants’s dividend payout ratio is 63.34%.

Insider Buying and Selling

In other news, CEO Ricardo Cardenas sold 39,134 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $209.06, for a total value of $8,181,354.04. Following the transaction, the chief executive officer owned 86,146 shares of the company’s stock, valued at $18,009,682.76. This trade represents a 31.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Susan M. Connelly sold 2,226 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $208.17, for a total value of $463,386.42. Following the transaction, the senior vice president owned 4,165 shares of the company’s stock, valued at approximately $867,028.05. This trade represents a 34.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 60,255 shares of company stock worth $12,589,319 in the last quarter. Company insiders own 0.67% of the company’s stock.

Analyst Ratings Changes

DRI has been the subject of a number of recent analyst reports. KeyCorp restated an “overweight” rating on shares of Darden Restaurants in a report on Wednesday, September 23rd. Oppenheimer upped their price target on Darden Restaurants from $235.00 to $245.00 and gave the company an “outperform” rating in a report on Tuesday, September 15th. Robert W. Baird raised Darden Restaurants from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $220.00 to $250.00 in a research report on Monday, August 24th. Mizuho upped their target price on shares of Darden Restaurants from $235.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, September 25th. Finally, Weiss Ratings downgraded shares of Darden Restaurants from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, October 2nd. Seventeen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $232.48.

Darden Restaurants Company Profile

Darden Restaurants, Inc is a full-service restaurant company that owns and operates a portfolio of well-known dining brands. Its restaurants serve a range of cuisines and occasions, from Italian and American casual dining to seafood, steak, and upscale experiences.

The company’s portfolio includes Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, Ruth’s Chris Steak House, Seasons 52, Bahama Breeze, Eddie V’s, and The Capital Grille. In 2024, Darden expanded its brand portfolio through the acquisition of Chuy’s, a full-service Mexican restaurant concept.

Founded by William B.