Modera Wealth Management LLC Sells 651 Shares of Darden Restaurants, Inc. $DRI

Modera Wealth Management LLC cut its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 40.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 976 shares of the restaurant operator’s stock after selling 651 shares during the quarter. Modera Wealth Management LLC’s holdings in Darden Restaurants were worth $213,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of DRI. Charles Schwab Investment Management Inc. lifted its position in Darden Restaurants by 6.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,998,200 shares of the restaurant operator’s stock valued at $830,666,000 after acquiring an additional 247,542 shares during the last quarter. Raymond James Financial Inc. increased its stake in 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 valued at $748,215,000 after purchasing an additional 157,305 shares in the last quarter. Hamlin Capital Management LLC lifted its stake in shares of Darden Restaurants by 0.5% during the second quarter. Hamlin Capital Management LLC now owns 918,387 shares of the restaurant operator’s stock worth $200,181,000 after buying an additional 4,989 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Darden Restaurants by 6.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 625,449 shares of the restaurant operator’s stock valued at $129,943,000 after buying an additional 37,878 shares during the last quarter. Finally, Nuveen LLC purchased a new position in Darden Restaurants in the 1st quarter worth $84,801,000. Institutional investors own 93.64% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Guggenheim increased their price target on shares of Darden Restaurants from $220.00 to $235.00 and gave the stock a “buy” rating in a report on Wednesday, September 17th. Morgan Stanley increased their price target on shares of Darden Restaurants from $235.00 to $238.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. TD Cowen reiterated a “hold” rating and issued a $235.00 price objective on shares of Darden Restaurants in a research report on Thursday, September 18th. BTIG Research dropped their target price on Darden Restaurants from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, September 19th. Finally, Raymond James Financial lowered their price target on Darden Restaurants from $230.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, September 19th. Twenty analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. Based on data from MarketBeat.com, Darden Restaurants presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.82.

Insider Activity

In other news, SVP Matthew R. Broad sold 5,661 shares of the stock in a transaction 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 completion of the transaction, the senior vice president owned 13,916 shares in the company, valued at approximately $2,691,354.40. This represents a 28.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.49% of the company’s stock.

Darden Restaurants Stock Up 0.3%

DRI stock opened at $178.02 on Monday. Darden Restaurants, Inc. has a twelve month low of $159.40 and a twelve month high of $228.27. The company has a quick ratio of 0.27, a current ratio of 0.40 and a debt-to-equity ratio of 0.96. The company has a market cap of $20.71 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 1.67 and a beta of 0.74. The business’s 50-day simple moving average is $192.38 and its 200 day simple moving average is $203.55.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Thursday, September 18th. The restaurant operator reported $1.97 EPS for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.04). The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.03 billion. Darden Restaurants had a return on equity of 52.35% and a net margin of 8.90%.Darden Restaurants’s revenue was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.75 EPS. Darden Restaurants has set its FY 2026 guidance at 10.500-10.700 EPS. On average, research analysts anticipate that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.

Darden Restaurants Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, October 10th. Darden Restaurants’s payout ratio is 64.31%.

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.