180 Wealth Advisors LLC Sells 59 Shares of Darden Restaurants, Inc. (NYSE:DRI)

180 Wealth Advisors LLC reduced its stake in Darden Restaurants, Inc. (NYSE:DRI) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,251 shares of the restaurant operator’s stock after selling 59 shares during the period. 180 Wealth Advisors LLC’s holdings in Darden Restaurants were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Kimelman & Baird LLC bought a new stake in shares of Darden Restaurants during the 2nd quarter valued at $30,000. Wolff Wiese Magana LLC raised its stake in Darden Restaurants by 1,690.9% in the third quarter. Wolff Wiese Magana LLC now owns 197 shares of the restaurant operator’s stock valued at $32,000 after purchasing an additional 186 shares in the last quarter. Bangor Savings Bank lifted its position in Darden Restaurants by 395.0% during the third quarter. Bangor Savings Bank now owns 297 shares of the restaurant operator’s stock worth $49,000 after purchasing an additional 237 shares during the period. Fortitude Family Office LLC lifted its position in Darden Restaurants by 78.3% during the fourth quarter. Fortitude Family Office LLC now owns 312 shares of the restaurant operator’s stock worth $58,000 after purchasing an additional 137 shares during the period. Finally, Truvestments Capital LLC acquired a new stake in Darden Restaurants during the third quarter worth about $72,000. Institutional investors and hedge funds own 93.64% of the company’s stock.

Darden Restaurants Price Performance

DRI stock opened at $182.60 on Wednesday. The company has a quick ratio of 0.22, a current ratio of 0.35 and a debt-to-equity ratio of 0.65. The firm has a market cap of $21.39 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 1.89 and a beta of 1.31. The company’s fifty day simple moving average is $174.58 and its 200 day simple moving average is $161.25. Darden Restaurants, Inc. has a 12-month low of $135.87 and a 12-month high of $189.18.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Thursday, December 19th. The restaurant operator reported $2.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.03. Darden Restaurants had a return on equity of 49.46% and a net margin of 9.11%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the previous year, the business earned $1.84 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, analysts expect that Darden Restaurants, Inc. will post 9.47 earnings per share for the current year.

Darden Restaurants Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, January 10th. Darden Restaurants’s dividend payout ratio (DPR) is 64.15%.

Insider Activity

In other news, CFO Rajesh Vennam sold 7,228 shares of the stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $181.71, for a total transaction of $1,313,399.88. Following the transaction, the chief financial officer now owns 10,262 shares of the company’s stock, valued at $1,864,708.02. This represents a 41.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Susan M. Connelly sold 9,264 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $184.68, for a total value of $1,710,875.52. Following the completion of the sale, the senior vice president now directly owns 4,567 shares of the company’s stock, valued at $843,433.56. The trade was a 66.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on DRI shares. The Goldman Sachs Group assumed coverage on shares of Darden Restaurants in a research report on Thursday, December 5th. They set a “neutral” rating and a $183.00 price target on the stock. Citigroup reduced their target price on Darden Restaurants from $209.00 to $206.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. Sanford C. Bernstein lowered Darden Restaurants from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $190.00 to $180.00 in a research note on Friday, September 20th. Stephens upped their price objective on Darden Restaurants from $164.00 to $175.00 and gave the stock an “equal weight” rating in a research report on Friday, December 20th. Finally, Bank of America lifted their target price on Darden Restaurants from $195.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $189.12.

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.