Ashton Thomas Securities LLC Makes New Investment in Darden Restaurants, Inc. (NYSE:DRI)

Ashton Thomas Securities LLC bought a new stake in shares of Darden Restaurants, Inc. (NYSE:DRI) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 456 shares of the restaurant operator’s stock, valued at approximately $75,000.

A number of other large investors have also modified their holdings of DRI. ESL Trust Services LLC acquired a new position in shares of Darden Restaurants during the 1st quarter worth about $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Darden Restaurants during the second quarter valued at about $27,000. Kimelman & Baird LLC purchased a new position in shares of Darden Restaurants during the second quarter worth $30,000. Innealta Capital LLC acquired a new position in shares of Darden Restaurants in the second quarter valued at approximately $31,000. Finally, Wolff Wiese Magana LLC increased its holdings in Darden Restaurants by 1,690.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 197 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 186 shares during the period. Institutional investors and hedge funds own 93.64% of the company’s stock.

Darden Restaurants Stock Performance

Darden Restaurants stock opened at $167.07 on Wednesday. Darden Restaurants, Inc. has a 12 month low of $135.87 and a 12 month high of $176.84. The stock’s 50-day moving average is $162.56 and its 200-day moving average is $153.34. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.35 and a quick ratio of 0.22. The company has a market cap of $19.63 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 1.94 and a beta of 1.31.

Darden Restaurants (NYSE:DRI) last announced its earnings results on Thursday, September 19th. The restaurant operator reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.08). Darden Restaurants had a net margin of 9.11% and a return on equity of 49.46%. The firm had revenue of $2.76 billion during the quarter, compared to analysts’ expectations of $2.80 billion. During the same quarter last year, the company posted $1.78 earnings per share. Darden Restaurants’s revenue for the quarter was up 1.0% compared to the same quarter last year. Equities analysts anticipate that Darden Restaurants, Inc. will post 9.47 earnings per share for the current year.

Darden Restaurants Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.35%. This is a boost from Darden Restaurants’s previous quarterly dividend of $1.29. The ex-dividend date was Thursday, October 10th. Darden Restaurants’s dividend payout ratio is presently 64.59%.

Insider Buying and Selling at Darden Restaurants

In related news, insider Melvin John Martin sold 3,000 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $163.30, for a total value of $489,900.00. Following the sale, the insider now owns 12,601 shares of the company’s stock, valued at $2,057,743.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Darden Restaurants news, SVP Susan M. Connelly sold 3,320 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $163.43, for a total transaction of $542,587.60. Following the completion of the sale, the senior vice president now directly owns 6,155 shares in the company, valued at approximately $1,005,911.65. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Melvin John Martin sold 3,000 shares of Darden Restaurants stock in a transaction on Friday, October 4th. The shares were sold at an average price of $163.30, for a total value of $489,900.00. Following the sale, the insider now directly owns 12,601 shares of the company’s stock, valued at approximately $2,057,743.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,265 shares of company stock worth $10,116,030. 0.58% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DRI shares. Morgan Stanley increased their target price on Darden Restaurants from $175.00 to $188.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Wells Fargo & Company raised their price target on Darden Restaurants from $160.00 to $165.00 and gave the stock an “equal weight” rating in a research note on Friday, September 20th. Evercore ISI raised shares of Darden Restaurants from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $165.00 to $205.00 in a research report on Friday, September 20th. JPMorgan Chase & Co. boosted their target price on Darden Restaurants from $165.00 to $176.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, BMO Capital Markets upped their price objective on shares of Darden Restaurants from $165.00 to $175.00 and gave the stock a “market perform” rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Darden Restaurants has a consensus rating of “Moderate Buy” and a consensus price target of $180.13.

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.