Ibex Wealth Advisors Acquires Shares of 3,572 Darden Restaurants, Inc. $DRI

Ibex Wealth Advisors bought a new position in Darden Restaurants, Inc. (NYSE:DRI) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,572 shares of the restaurant operator’s stock, valued at approximately $778,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its position in Darden Restaurants by 419.2% in the second quarter. True Wealth Design LLC now owns 135 shares of the restaurant operator’s stock valued at $29,000 after buying an additional 109 shares in the last quarter. SouthState Corp bought a new position in shares of Darden Restaurants in the first quarter valued at approximately $36,000. Rise Advisors LLC boosted its holdings in shares of Darden Restaurants by 32.2% in the 1st quarter. Rise Advisors LLC now owns 201 shares of the restaurant operator’s stock worth $42,000 after acquiring an additional 49 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Darden Restaurants in the 1st quarter worth approximately $44,000. Finally, Atlantic Union Bankshares Corp bought a new stake in Darden Restaurants during the 2nd quarter worth approximately $44,000. 93.64% of the stock is owned by institutional investors.

Darden Restaurants Price Performance

Shares of DRI stock opened at $173.43 on Tuesday. The firm has a market cap of $20.17 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 1.67 and a beta of 0.74. Darden Restaurants, Inc. has a 12 month low of $159.40 and a 12 month high of $228.27. The company has a quick ratio of 0.27, a current ratio of 0.40 and a debt-to-equity ratio of 0.96. The stock has a 50-day moving average price of $191.70 and a 200 day moving average price of $203.36.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, September 18th. The restaurant operator reported $1.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.01 by ($0.04). Darden Restaurants had a net margin of 8.90% and a return on equity of 52.35%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period last year, the business posted $1.75 EPS. The firm’s revenue for the quarter was up 10.4% compared to the same quarter last year. Darden Restaurants has set its FY 2026 guidance at 10.500-10.700 EPS. Research analysts expect that Darden Restaurants, Inc. will post 9.52 EPS for the current year.

Darden Restaurants Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 10th were issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date of this dividend was Friday, October 10th. Darden Restaurants’s payout ratio is currently 64.31%.

Insider Activity at Darden Restaurants

In other Darden Restaurants news, SVP Matthew R. Broad sold 5,661 shares of the company’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $193.40, for a total transaction of $1,094,837.40. Following the completion of the sale, the senior vice president owned 13,916 shares in the company, valued at approximately $2,691,354.40. The trade was a 28.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DRI shares. Morgan Stanley lifted their price objective on Darden Restaurants from $235.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Guggenheim lifted their price target on Darden Restaurants from $220.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Stephens reiterated an “equal weight” rating and set a $215.00 price target on shares of Darden Restaurants in a research report on Thursday, September 18th. BTIG Research lowered their price objective on shares of Darden Restaurants from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, September 19th. Finally, Robert W. Baird dropped their target price on shares of Darden Restaurants from $230.00 to $208.00 and set a “neutral” rating for the company in a research note on Friday, September 19th. Twenty research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $225.82.

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.