TD Asset Management Inc Sells 462 Shares of Darden Restaurants, Inc. (NYSE:DRI)

TD Asset Management Inc decreased its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 1.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 42,873 shares of the restaurant operator’s stock after selling 462 shares during the period. TD Asset Management Inc’s holdings in Darden Restaurants were worth $7,163,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Resurgent Financial Advisors LLC bought a new stake in shares of Darden Restaurants during the fourth quarter valued at approximately $29,000. Clear Street Markets LLC raised its position in shares of Darden Restaurants by 93.5% during the first quarter. Clear Street Markets LLC now owns 240 shares of the restaurant operator’s stock valued at $37,000 after buying an additional 116 shares during the last quarter. Fortis Capital Advisors LLC bought a new stake in shares of Darden Restaurants during the fourth quarter valued at approximately $49,000. Industrial Alliance Investment Management Inc. raised its position in shares of Darden Restaurants by 292.5% during the fourth quarter. Industrial Alliance Investment Management Inc. now owns 365 shares of the restaurant operator’s stock valued at $50,000 after buying an additional 272 shares during the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of Darden Restaurants during the first quarter valued at approximately $60,000. Institutional investors own 94.53% of the company’s stock.

Analyst Ratings Changes

DRI has been the topic of several recent analyst reports. Truist Financial lifted their price objective on shares of Darden Restaurants from $186.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, September 22nd. Wedbush reduced their price target on shares of Darden Restaurants from $178.00 to $165.00 and set an “outperform” rating on the stock in a research report on Friday, September 22nd. BMO Capital Markets reduced their price target on shares of Darden Restaurants from $160.00 to $155.00 and set a “market perform” rating on the stock in a research report on Friday, September 22nd. Citigroup boosted their price target on shares of Darden Restaurants from $184.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, September 22nd. Finally, Raymond James reduced their price target on shares of Darden Restaurants from $165.00 to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 18th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Darden Restaurants has an average rating of “Moderate Buy” and a consensus target price of $167.83.

Darden Restaurants Stock Down 1.2 %

Shares of DRI opened at $154.03 on Tuesday. The firm has a market capitalization of $18.53 billion, a P/E ratio of 19.18, a P/E/G ratio of 1.71 and a beta of 1.26. Darden Restaurants, Inc. has a 12-month low of $131.90 and a 12-month high of $173.06. The company has a current ratio of 0.40, a quick ratio of 0.26 and a debt-to-equity ratio of 0.69. The firm has a fifty day moving average price of $144.96 and a 200-day moving average price of $155.60.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, September 21st. The restaurant operator reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.05. The firm had revenue of $2.73 billion during the quarter, compared to analyst estimates of $2.71 billion. Darden Restaurants had a net margin of 9.13% and a return on equity of 47.87%. The business’s revenue was up 11.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.56 earnings per share. Equities research analysts expect that Darden Restaurants, Inc. will post 8.77 earnings per share for the current year.

Darden Restaurants Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Friday, October 6th. Darden Restaurants’s dividend payout ratio (DPR) is presently 65.26%.

Insider Buying and Selling

In related news, insider Melvin John Martin sold 2,966 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $139.62, for a total value of $414,112.92. Following the completion of the sale, the insider now directly owns 17,143 shares of the company’s stock, valued at $2,393,505.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Melvin John Martin sold 2,966 shares of the company’s stock in a transaction dated Tuesday, October 3rd. The shares were sold at an average price of $139.62, for a total value of $414,112.92. Following the completion of the sale, the insider now directly owns 17,143 shares of the company’s stock, valued at $2,393,505.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Susan M. Connelly sold 1,070 shares of the business’s stock in a transaction dated Friday, October 20th. The stock was sold at an average price of $141.43, for a total transaction of $151,330.10. Following the completion of the transaction, the senior vice president now owns 8,253 shares of the company’s stock, valued at $1,167,221.79. The disclosure for this sale can be found here. Insiders sold a total of 5,255 shares of company stock valued at $741,016 over the last three months. 0.85% of the stock is owned by company insiders.

Darden Restaurants Company Profile

Darden Restaurants, Inc, through 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 brands.