OLD National Bancorp IN Buys 95 Shares of Darden Restaurants, Inc. $DRI

OLD National Bancorp IN raised its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 3.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,714 shares of the restaurant operator’s stock after purchasing an additional 95 shares during the quarter. OLD National Bancorp IN’s holdings in Darden Restaurants were worth $592,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of DRI. Nuveen LLC bought a new stake in Darden Restaurants during the first quarter valued at approximately $84,801,000. 1832 Asset Management L.P. bought a new stake in Darden Restaurants during the first quarter valued at approximately $53,760,000. 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 purchasing an additional 247,542 shares during the last quarter. Woodline Partners LP lifted its position in Darden Restaurants by 3,824.2% during the first quarter. Woodline Partners LP now owns 177,217 shares of the restaurant operator’s stock valued at $36,819,000 after purchasing an additional 172,701 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its position in Darden Restaurants by 4.6% during the first 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 during the last quarter. 93.64% of the stock is currently owned by institutional investors.

Darden Restaurants Trading Down 1.0%

NYSE:DRI opened at $191.40 on Wednesday. The company has a fifty day moving average of $202.41 and a 200 day moving average of $206.07. Darden Restaurants, Inc. has a 52 week low of $155.18 and a 52 week 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 firm has a market capitalization of $22.26 billion, a P/E ratio of 20.51, a P/E/G ratio of 1.77 and a beta of 0.77.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Thursday, September 18th. The restaurant operator reported $1.97 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 firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the company earned $1.75 earnings per share. The company’s quarterly revenue was up 10.4% compared to the same quarter last year. Darden Restaurants has set its FY 2026 guidance at 10.500-10.700 EPS. On average, research analysts predict that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.

Darden Restaurants Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Investors of record on Friday, October 10th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date is Friday, October 10th. Darden Restaurants’s dividend payout ratio is currently 64.31%.

Darden Restaurants declared that its Board of Directors has initiated a share buyback plan on Friday, June 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the restaurant operator to purchase up to 3.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Darden Restaurants from $225.00 to $200.00 and set an “equal weight” rating for the company in a research report on Friday, September 19th. Barclays lowered their price objective on shares of Darden Restaurants from $255.00 to $230.00 and set an “overweight” rating for the company in a report on Friday, September 19th. Bank of America boosted their price objective on shares of Darden Restaurants from $253.00 to $254.00 and gave the stock a “buy” rating in a report on Tuesday, September 16th. Evercore ISI lowered their price objective on shares of Darden Restaurants from $245.00 to $240.00 and set an “outperform” rating for the company in a report on Friday, September 19th. Finally, UBS Group boosted their price objective on shares of Darden Restaurants from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Monday, June 16th. Nineteen equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $225.59.

Insider Buying and Selling

In other Darden Restaurants news, insider Laura B. Williamson sold 523 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $204.65, for a total transaction of $107,031.95. Following the transaction, the insider directly owned 5,423 shares of the company’s stock, valued at approximately $1,109,816.95. The trade was a 8.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders have sold 2,013 shares of company stock worth $412,738. Corporate insiders own 0.49% of the company’s stock.

About Darden Restaurants

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.