Envestnet Portfolio Solutions Inc. Has $6.73 Million Holdings in Darden Restaurants, Inc. $DRI

Envestnet Portfolio Solutions Inc. lessened its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 12.3% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,864 shares of the restaurant operator’s stock after selling 4,340 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Darden Restaurants were worth $6,727,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Grove Bank & Trust boosted its position in Darden Restaurants by 171.4% during the first quarter. Grove Bank & Trust now owns 133 shares of the restaurant operator’s stock valued at $28,000 after acquiring an additional 84 shares during the last quarter. ORG Partners LLC boosted its position in Darden Restaurants by 108.8% during the first quarter. ORG Partners LLC now owns 142 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 74 shares during the last quarter. Centennial Bank AR bought a new stake in Darden Restaurants during the first quarter valued at $31,000. Alpine Bank Wealth Management bought a new stake in Darden Restaurants during the first quarter valued at $34,000. Finally, SouthState Corp bought a new stake in Darden Restaurants during the first quarter valued at $36,000. Institutional investors own 93.64% of the company’s stock.

Darden Restaurants Trading Up 1.0%

NYSE:DRI opened at $186.90 on Wednesday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.40 and a quick ratio of 0.27. The firm has a 50-day moving average of $200.61 and a 200-day moving average of $205.32. The company has a market cap of $21.74 billion, a PE ratio of 20.03, a PEG ratio of 1.69 and a beta of 0.77. Darden Restaurants, Inc. has a one year low of $157.01 and a one year high of $228.27.

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

Darden Restaurants Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be given a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Friday, October 10th. Darden Restaurants’s dividend payout ratio is presently 64.31%.

Darden Restaurants declared that its board has authorized a share buyback plan on Friday, June 20th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the restaurant operator to repurchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have commented on DRI shares. Stephens reaffirmed an “equal weight” rating and set a $215.00 price target on shares of Darden Restaurants in a research report on Thursday, September 18th. Argus dropped their price objective on shares of Darden Restaurants from $260.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, September 19th. Raymond James Financial dropped their price objective on shares of Darden Restaurants from $230.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, September 19th. Morgan Stanley upped their price objective on shares of Darden Restaurants from $235.00 to $238.00 and gave the company an “overweight” rating in a report on Friday, September 19th. Finally, Evercore ISI dropped their price objective on shares of Darden Restaurants from $245.00 to $240.00 and set an “outperform” rating on the stock in a report on Friday, September 19th. Nineteen research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.59.

Insider Transactions at Darden Restaurants

In other Darden Restaurants news, insider Laura B. Williamson sold 523 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $204.65, for a total value of $107,031.95. Following the completion of the sale, the insider directly owned 5,423 shares of the company’s stock, valued at approximately $1,109,816.95. This represents a 8.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Matthew R. Broad sold 5,661 shares of the business’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,674 shares of company stock valued at $1,507,575 over the last ninety days. 0.49% of the stock is currently owned by insiders.

About Darden Restaurants

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.