Darden Restaurants, Inc. $DRI Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 3.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 424,673 shares of the restaurant operator’s stock after buying an additional 14,156 shares during the quarter. Hsbc Holdings PLC owned approximately 0.37% of Darden Restaurants worth $78,274,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Torren Management LLC bought a new position in Darden Restaurants in the fourth quarter worth about $26,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Darden Restaurants by 926.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 154 shares of the restaurant operator’s stock valued at $28,000 after acquiring an additional 139 shares during the period. BOK Financial Private Wealth Inc. bought a new position in shares of Darden Restaurants during the fourth quarter valued at approximately $29,000. DV Equities LLC bought a new position in shares of Darden Restaurants during the fourth quarter valued at approximately $30,000. Finally, Ameriflex Group Inc. acquired a new stake in shares of Darden Restaurants during the 3rd quarter worth approximately $35,000. 93.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Darden Restaurants

In other news, SVP Douglas J. Milanes sold 3,620 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $202.16, for a total value of $731,819.20. Following the completion of the sale, the senior vice president owned 274 shares in the company, valued at $55,391.84. This represents a 92.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Lindsay L. Koren sold 300 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $194.32, for a total value of $58,296.00. Following the transaction, the senior vice president directly owned 1,617 shares of the company’s stock, valued at $314,215.44. This represents a 15.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.49% of the company’s stock.

Darden Restaurants Trading Down 0.8%

NYSE:DRI opened at $211.67 on Tuesday. The business has a fifty day moving average of $200.48 and a 200-day moving average of $200.14. The stock has a market cap of $24.25 billion, a price-to-earnings ratio of 22.40, a PEG ratio of 1.91 and a beta of 0.60. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.25 and a current ratio of 0.39. Darden Restaurants, Inc. has a 1 year low of $169.00 and a 1 year high of $224.94.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DRI. Bank of America raised their price target on Darden Restaurants from $272.00 to $276.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Sanford C. Bernstein restated an “outperform” rating on shares of Darden Restaurants in a research note on Friday, March 13th. Robert W. Baird increased their target price on Darden Restaurants from $208.00 to $215.00 and gave the stock a “neutral” rating in a research report on Friday, March 20th. UBS Group reiterated a “buy” rating and issued a $230.00 target price on shares of Darden Restaurants in a research note on Tuesday, March 10th. Finally, Wells Fargo & Company boosted their price target on shares of Darden Restaurants from $200.00 to $210.00 and gave the company an “equal weight” rating in a report on Friday, March 20th. Eighteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.04.

Darden Restaurants Company Profile

Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.

Darden’s restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand’s positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.