Iowa State Bank Makes New $1.43 Million Investment in Darden Restaurants, Inc. $DRI

Iowa State Bank acquired a new stake in Darden Restaurants, Inc. (NYSE:DRI) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 7,413 shares of the restaurant operator’s stock, valued at approximately $1,433,000.

Several other large investors have also recently made changes to their positions in DRI. Polaris Financial Partners bought a new stake in shares of Darden Restaurants in the 3rd quarter worth approximately $133,000. CX Institutional increased its position in Darden Restaurants by 2.8% in the third quarter. CX Institutional now owns 2,299 shares of the restaurant operator’s stock worth $444,000 after buying an additional 63 shares during the last quarter. Versant Capital Management Inc increased its position in Darden Restaurants by 54.5% in the third quarter. Versant Capital Management Inc now owns 1,015 shares of the restaurant operator’s stock worth $196,000 after buying an additional 358 shares during the last quarter. First Financial Bank Trust Division raised its stake in shares of Darden Restaurants by 1.1% in the third quarter. First Financial Bank Trust Division now owns 27,858 shares of the restaurant operator’s stock valued at $5,384,000 after buying an additional 305 shares during the period. Finally, QRG Capital Management Inc. lifted its position in shares of Darden Restaurants by 881.2% during the 2nd quarter. QRG Capital Management Inc. now owns 47,136 shares of the restaurant operator’s stock valued at $9,710,000 after buying an additional 42,332 shares during the last quarter. 93.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Darden Restaurants

In related news, CFO Rajesh Vennam sold 8,478 shares of Darden Restaurants stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $210.00, for a total transaction of $1,780,380.00. Following the completion of the sale, the chief financial officer owned 8,569 shares of the company’s stock, valued at approximately $1,799,490. This trade represents a 49.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Wilkerson sold 8,864 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $208.33, for a total value of $1,846,637.12. Following the transaction, the insider owned 18,794 shares of the company’s stock, valued at approximately $3,915,354.02. The trade was a 32.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 60,255 shares of company stock valued at $12,589,319 in the last ninety days. 0.67% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DRI. UBS Group reissued a “buy” rating on shares of Darden Restaurants in a report on Friday, September 11th. Weiss Ratings downgraded shares of Darden Restaurants from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday. KeyCorp reiterated an “overweight” rating on shares of Darden Restaurants in a research report on Wednesday, September 23rd. BTIG Research reiterated a “buy” rating and issued a $235.00 target price on shares of Darden Restaurants in a research note on Friday, September 25th. Finally, Evercore lowered shares of Darden Restaurants from an “outperform” rating to an “in-line” rating and set a $230.00 price target on the stock. in a research report on Tuesday, June 23rd. Seventeen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $232.48.

Darden Restaurants Price Performance

NYSE:DRI traded up $2.56 during mid-day trading on Tuesday, hitting $202.28. 235,913 shares of the stock traded hands, compared to its average volume of 1,336,909. The business’s 50-day moving average price is $212.19 and its 200 day moving average price is $204.49. The company has a market cap of $23.08 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 1.87 and a beta of 0.63. Darden Restaurants, Inc. has a 12-month low of $169.00 and a 12-month high of $229.76. The company has a quick ratio of 0.20, a current ratio of 0.30 and a debt-to-equity ratio of 0.79.

Darden Restaurants (NYSE:DRI) last posted its earnings results on Thursday, September 24th. The restaurant operator reported $2.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.05. Darden Restaurants had a net margin of 8.85% and a return on equity of 58.64%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.21 billion. During the same period in the prior year, the company posted $1.97 EPS. The business’s revenue for the quarter was up 5.1% compared to the same quarter last year. Darden Restaurants has set its FY 2027 guidance at 11.100-11.350 EPS. On average, analysts expect that Darden Restaurants, Inc. will post 11.24 EPS for the current fiscal year.

Darden Restaurants Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be given a $1.62 dividend. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, October 9th. Darden Restaurants’s dividend payout ratio (DPR) is 63.34%.

Darden Restaurants Profile

Darden Restaurants, Inc is a full-service restaurant company that owns and operates a portfolio of well-known dining brands. Its restaurants serve a range of cuisines and occasions, from Italian and American casual dining to seafood, steak, and upscale experiences.

The company’s portfolio includes Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, Ruth’s Chris Steak House, Seasons 52, Bahama Breeze, Eddie V’s, and The Capital Grille. In 2024, Darden expanded its brand portfolio through the acquisition of Chuy’s, a full-service Mexican restaurant concept.

Founded by William B.