Moody National Bank Trust Division decreased its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI – Get Rating) by 8.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,295 shares of the restaurant operator’s stock after selling 1,233 shares during the quarter. Moody National Bank Trust Division’s holdings in Darden Restaurants were worth $1,768,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in DRI. James Reed Financial Services Inc. acquired a new stake in Darden Restaurants during the 4th quarter valued at $26,000. FourThought Financial LLC acquired a new stake in shares of Darden Restaurants during the fourth quarter worth $31,000. Benjamin Edwards Inc. acquired a new stake in shares of Darden Restaurants during the fourth quarter worth $34,000. Allegheny Financial Group LTD acquired a new stake in shares of Darden Restaurants during the fourth quarter worth $40,000. Finally, FSB Premier Wealth Management Inc. acquired a new stake in shares of Darden Restaurants during the fourth quarter worth $49,000. 90.71% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on the company. Wedbush dropped their target price on Darden Restaurants from $150.00 to $140.00 and set a “neutral” rating for the company in a report on Friday, March 25th. KeyCorp dropped their target price on Darden Restaurants from $160.00 to $136.00 in a report on Wednesday, June 15th. Barclays dropped their target price on Darden Restaurants from $143.00 to $135.00 in a report on Friday, June 17th. Deutsche Bank Aktiengesellschaft dropped their target price on Darden Restaurants from $154.00 to $152.00 in a report on Friday, March 25th. Finally, Morgan Stanley dropped their target price on Darden Restaurants from $171.00 to $161.00 and set an “overweight” rating for the company in a report on Friday, March 25th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $151.53.
Darden Restaurants (NYSE:DRI – Get Rating) last released its earnings results on Thursday, March 24th. The restaurant operator reported $1.93 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.16). Darden Restaurants had a net margin of 11.17% and a return on equity of 36.26%. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the prior year, the firm earned $0.98 EPS. The business’s revenue was up 41.3% on a year-over-year basis. As a group, analysts expect that Darden Restaurants, Inc. will post 7.38 earnings per share for the current year.
In other Darden Restaurants news, Director Juliana L. Chugg bought 1,925 shares of the firm’s stock in a transaction on Monday, March 28th. The shares were purchased at an average price of $129.01 per share, for a total transaction of $248,344.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.95% of the company’s stock.
About Darden Restaurants (Get Rating)
Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 30, 2021, it owned and operated 1,834 restaurants, which included 875 under the Olive Garden, 533 under the LongHorn Steakhouse, 170 under the Cheddar's Scratch Kitchen, 81 under the Yard House, 63 under The Capital Grille, 44 under the Seasons 52, 42 under the Bahama Breeze, and 26 under the Eddie V's Prime Seafood brands.
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