Atria Wealth Solutions Inc. Lowers Holdings in Darden Restaurants, Inc. $DRI

Atria Wealth Solutions Inc. decreased its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 9.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 3,112 shares of the restaurant operator’s stock after selling 307 shares during the period. Atria Wealth Solutions Inc.’s holdings in Darden Restaurants were worth $680,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DRI. Nuveen LLC purchased a new stake in Darden Restaurants in the 1st quarter valued at about $84,801,000. 1832 Asset Management L.P. purchased a new stake in Darden Restaurants in the 1st quarter valued at about $53,760,000. Charles Schwab Investment Management Inc. grew its holdings in Darden Restaurants by 6.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,998,200 shares of the restaurant operator’s stock valued at $830,666,000 after buying an additional 247,542 shares during the period. Woodline Partners LP grew its holdings in Darden Restaurants by 3,824.2% in the 1st quarter. Woodline Partners LP now owns 177,217 shares of the restaurant operator’s stock valued at $36,819,000 after buying an additional 172,701 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in shares of Darden Restaurants by 4.6% during the 1st quarter. Raymond James Financial Inc. now owns 3,601,340 shares of the restaurant operator’s stock worth $748,215,000 after purchasing an additional 157,305 shares during the period. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Darden Restaurants Stock Performance

Shares of DRI opened at $188.16 on Friday. The business’s 50 day moving average is $199.61 and its two-hundred day moving average is $204.87. Darden Restaurants, Inc. has a 52-week low of $157.89 and a 52-week high of $228.27. The firm has a market cap of $21.88 billion, a price-to-earnings ratio of 20.17, a PEG ratio of 1.72 and a beta of 0.77. The company has a quick ratio of 0.27, a current ratio of 0.40 and a debt-to-equity ratio of 0.96.

Darden Restaurants (NYSE:DRI) last announced its earnings results on Thursday, September 18th. The restaurant operator reported $1.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). Darden Restaurants had a net margin of 8.90% and a return on equity of 52.35%. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the company earned $1.75 earnings per share. The business’s revenue for the quarter was up 10.4% on a year-over-year basis. Darden Restaurants has set its FY 2026 guidance at 10.500-10.700 EPS. Analysts forecast that Darden Restaurants, Inc. will post 9.52 EPS for the current fiscal year.

Darden Restaurants Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, October 10th. Darden Restaurants’s dividend payout ratio is presently 64.31%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Argus decreased their target price on Darden Restaurants from $260.00 to $220.00 and set a “buy” rating for the company in a report on Friday, September 19th. Wall Street Zen cut Darden Restaurants from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Melius assumed coverage on Darden Restaurants in a report on Monday, July 14th. They set a “hold” rating and a $240.00 target price for the company. Barclays decreased their target price on Darden Restaurants from $255.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, September 19th. Finally, Truist Financial decreased their target price on Darden Restaurants from $252.00 to $240.00 and set a “buy” rating for the company in a report on Friday, September 19th. Nineteen investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.59.

Insider Buying and Selling

In related news, insider Laura B. Williamson sold 1,157 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $204.70, for a total transaction of $236,837.90. Following the sale, the insider directly owned 10,632 shares of the company’s stock, valued at approximately $2,176,370.40. This represents a 9.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Matthew R. Broad sold 5,661 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $193.40, for a total value of $1,094,837.40. Following the sale, the senior vice president directly owned 13,916 shares in the company, valued at approximately $2,691,354.40. This represents a 28.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,674 shares of company stock worth $1,507,575. 0.49% of the stock is currently owned by corporate insiders.

Darden Restaurants Company Profile

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.