Darden Restaurants, Inc. $DRI Position Boosted by International Assets Investment Management LLC

International Assets Investment Management LLC increased its position in Darden Restaurants, Inc. (NYSE:DRI) by 13,052.1% in the third quarter, Holdings Channel.com reports. The firm owned 300,000 shares of the restaurant operator’s stock after acquiring an additional 297,719 shares during the period. International Assets Investment Management LLC’s holdings in Darden Restaurants were worth $57,975,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Focus Financial Network Inc. lifted its position in Darden Restaurants by 4.6% during the 3rd quarter. Focus Financial Network Inc. now owns 1,148 shares of the restaurant operator’s stock valued at $222,000 after purchasing an additional 51 shares during the period. Valley National Advisers Inc. raised its stake in shares of Darden Restaurants by 0.5% during the third quarter. Valley National Advisers Inc. now owns 11,115 shares of the restaurant operator’s stock worth $2,148,000 after buying an additional 54 shares during the last quarter. Elevation Wealth Partners LLC lifted its holdings in Darden Restaurants by 15.7% in the third quarter. Elevation Wealth Partners LLC now owns 442 shares of the restaurant operator’s stock valued at $85,000 after buying an additional 60 shares during the period. Moody National Bank Trust Division lifted its holdings in Darden Restaurants by 1.1% in the second quarter. Moody National Bank Trust Division now owns 5,789 shares of the restaurant operator’s stock valued at $1,193,000 after buying an additional 62 shares during the period. Finally, CX Institutional lifted its holdings in Darden Restaurants by 2.8% in the third quarter. CX Institutional now owns 2,299 shares of the restaurant operator’s stock valued at $444,000 after buying an additional 63 shares during the period. 93.64% of the stock is currently owned by institutional investors and hedge funds.

Darden Restaurants Stock Performance

Shares of DRI stock opened at $219.92 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.30 and a quick ratio of 0.20. The stock has a market cap of $24.88 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 2.06 and a beta of 0.63. The stock has a 50-day moving average of $210.60 and a 200-day moving average of $205.87. Darden Restaurants, Inc. has a one year low of $169.00 and a one year high of $229.76.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Thursday, September 24th. The restaurant operator reported $2.05 earnings per share for the quarter, hitting the consensus estimate of $2.05. Darden Restaurants had a net margin of 8.85% and a return on equity of 58.64%. The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.21 billion. During the same quarter last year, the firm earned $1.97 EPS. Darden Restaurants’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. As a group, sell-side analysts expect that Darden Restaurants, Inc. will post 11.24 earnings per share for the current year.

Darden Restaurants Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 9th will be issued a $1.62 dividend. The ex-dividend date is Friday, October 9th. This represents a $6.48 annualized dividend and a yield of 2.9%. Darden Restaurants’s dividend payout ratio (DPR) is 63.34%.

Insiders Place Their Bets

In other Darden Restaurants news, insider John Wilkerson sold 8,864 shares of the stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $208.33, for a total value of $1,846,637.12. Following the sale, the insider directly owned 18,794 shares in the company, valued at approximately $3,915,354.02. This trade represents a 32.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.67% of the company’s stock.

Wall Street Analyst Weigh In

DRI has been the topic of a number of recent research reports. Mizuho raised their price objective 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. UBS Group reiterated a “buy” rating on shares of Darden Restaurants in a research report on Friday, September 11th. Citigroup cut their price target on Darden Restaurants from $248.00 to $247.00 and set a “buy” rating on the stock in a research note on Friday, September 25th. KeyCorp restated an “overweight” rating on shares of Darden Restaurants in a research report on Wednesday, September 23rd. Finally, Weiss Ratings raised Darden Restaurants from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, October 20th. Sixteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $232.82.

Darden Restaurants Profile

Darden Restaurants, Inc is a full-service restaurant company that owns and operates a portfolio of dining brands in the United States. Its restaurants offer a range of cuisines and dining formats, including Italian-American, steakhouse, seafood, casual dining and polished casual concepts.

The company’s portfolio includes Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, Ruth’s Chris Steak House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V’s. These brands serve meals prepared for on-premises dining, as well as takeout and other off-premises occasions.

Darden traces its history to 1968, when founder William “Bill” Darden opened the first Red Lobster restaurant in Lakeland, Florida.