NEOS Investment Management LLC Purchases 1,241 Shares of Darden Restaurants, Inc. (NYSE:DRI)

NEOS Investment Management LLC boosted its position in Darden Restaurants, Inc. (NYSE:DRI) by 28.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,664 shares of the restaurant operator’s stock after purchasing an additional 1,241 shares during the quarter. NEOS Investment Management LLC’s holdings in Darden Restaurants were worth $1,057,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DRI. Kestra Investment Management LLC bought a new position in shares of Darden Restaurants in the 4th quarter worth about $25,000. Compass Wealth Management LLC purchased a new stake in Darden Restaurants in the fourth quarter worth about $28,000. TCTC Holdings LLC bought a new position in shares of Darden Restaurants during the fourth quarter valued at approximately $28,000. MCF Advisors LLC lifted its holdings in shares of Darden Restaurants by 50.9% during the fourth quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator’s stock valued at $33,000 after purchasing an additional 59 shares during the last quarter. Finally, HHM Wealth Advisors LLC boosted its position in shares of Darden Restaurants by 103.2% in the 4th quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator’s stock worth $47,000 after purchasing an additional 129 shares in the last quarter. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Darden Restaurants Price Performance

Shares of Darden Restaurants stock opened at $204.89 on Friday. The stock has a market cap of $24.00 billion, a P/E ratio of 23.47, a P/E/G ratio of 2.15 and a beta of 1.27. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.23 and a current ratio of 0.37. The stock’s fifty day moving average is $194.62 and its 200 day moving average is $178.47. Darden Restaurants, Inc. has a one year low of $135.87 and a one year high of $211.00.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, March 20th. The restaurant operator reported $2.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.80. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same period in the previous year, the firm earned $2.60 EPS. The business’s quarterly revenue was up 6.2% on a year-over-year basis. Sell-side analysts anticipate that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.

Darden Restaurants Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $5.60 annualized dividend and a dividend yield of 2.73%. Darden Restaurants’s payout ratio is 63.13%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on DRI shares. Citigroup lifted their price objective on Darden Restaurants from $223.00 to $229.00 and gave the company a “buy” rating in a research note on Friday, March 21st. The Goldman Sachs Group assumed coverage on Darden Restaurants in a research report on Thursday, December 5th. They issued a “neutral” rating and a $183.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Darden Restaurants from $180.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, March 21st. Morgan Stanley upped their target price on shares of Darden Restaurants from $209.00 to $217.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, Wedbush raised their price target on shares of Darden Restaurants from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, Darden Restaurants has an average rating of “Moderate Buy” and a consensus price target of $202.08.

Insider Buying and Selling

In other news, insider Todd Burrowes sold 15,783 shares of the company’s stock in a transaction dated 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 completion of the transaction, the insider now owns 46,288 shares of the company’s stock, valued at $8,472,092.64. This represents a 25.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ricardo Cardenas sold 20,518 shares of Darden Restaurants stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $208.19, for a total value of $4,271,642.42. Following the sale, the chief executive officer now directly owns 58,836 shares in the company, valued at $12,249,066.84. This trade represents a 25.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,311 shares of company stock valued at $13,658,221. Company insiders own 0.58% of the company’s stock.

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.