Sei Investments Co. Has $96.03 Million Stock Holdings in Darden Restaurants, Inc. (NYSE:DRI)

Sei Investments Co. boosted its position in Darden Restaurants, Inc. (NYSE:DRI) by 1.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 514,392 shares of the restaurant operator’s stock after buying an additional 8,786 shares during the quarter. Sei Investments Co. owned approximately 0.44% of Darden Restaurants worth $96,031,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of DRI. Raymond James Financial Inc. acquired a new stake in Darden Restaurants in the 4th quarter valued at approximately $642,967,000. Massachusetts Financial Services Co. MA raised its position in Darden Restaurants by 111.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,469,083 shares of the restaurant operator’s stock valued at $241,121,000 after buying an additional 772,907 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Darden Restaurants in the 3rd quarter valued at approximately $40,048,000. Los Angeles Capital Management LLC grew its stake in Darden Restaurants by 6,456.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 185,098 shares of the restaurant operator’s stock valued at $34,556,000 after purchasing an additional 182,275 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Darden Restaurants by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,750,658 shares of the restaurant operator’s stock valued at $700,210,000 after purchasing an additional 170,336 shares in the last quarter. Institutional investors and hedge funds own 93.64% of the company’s stock.

Insider Buying and Selling at Darden Restaurants

In related news, SVP Douglas J. Milanes sold 7,892 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $195.95, for a total transaction of $1,546,437.40. Following the sale, the senior vice president now owns 3,914 shares in the company, valued at $766,948.30. This represents a 66.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd Burrowes sold 15,783 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $183.03, for a total value of $2,888,762.49. Following the transaction, the insider now directly owns 46,288 shares in the company, valued at approximately $8,472,092.64. This trade represents a 25.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,926 shares of company stock worth $9,850,129. Insiders own 0.58% of the company’s stock.

Darden Restaurants Price Performance

Shares of DRI opened at $199.92 on Friday. Darden Restaurants, Inc. has a 12-month low of $135.87 and a 12-month high of $203.47. The business has a 50-day simple moving average of $192.08 and a two-hundred day simple moving average of $176.73. The company has a quick ratio of 0.23, a current ratio of 0.37 and a debt-to-equity ratio of 1.02. The stock has a market cap of $23.42 billion, a PE ratio of 22.90, a PEG ratio of 2.15 and a beta of 1.27.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, March 20th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $2.80. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.22 billion. During the same quarter in the prior year, the firm earned $2.60 EPS. The business’s revenue for the quarter was up 6.2% compared to the same quarter last year. Analysts anticipate that Darden Restaurants, Inc. will post 9.52 earnings per share for the current fiscal year.

Darden Restaurants Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $1.40 dividend. The ex-dividend date is Thursday, April 10th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.80%. Darden Restaurants’s dividend payout ratio (DPR) is presently 64.15%.

Analysts Set New Price Targets

A number of research analysts have weighed in on DRI shares. TD Securities raised their price target on Darden Restaurants from $180.00 to $190.00 and gave the company a “hold” rating in a research note on Friday. Stephens raised their price target on Darden Restaurants from $175.00 to $178.00 and gave the company an “equal weight” rating in a research note on Friday. Truist Financial raised their price target on Darden Restaurants from $200.00 to $212.00 and gave the company a “buy” rating in a research note on Monday, March 17th. Wells Fargo & Company raised their price target on Darden Restaurants from $180.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Bank of America lifted their target price on Darden Restaurants from $230.00 to $238.00 and gave the stock a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $201.36.

Darden Restaurants 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.