Integrated Wealth Concepts LLC Has $1.10 Million Holdings in Darden Restaurants, Inc. (NYSE:DRI)

Integrated Wealth Concepts LLC boosted its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 28.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 6,678 shares of the restaurant operator’s stock after acquiring an additional 1,472 shares during the period. Integrated Wealth Concepts LLC’s holdings in Darden Restaurants were worth $1,096,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Mizuho Securities USA LLC increased its holdings in shares of Darden Restaurants by 96,162.9% during the third quarter. Mizuho Securities USA LLC now owns 8,861,000 shares of the restaurant operator’s stock worth $1,454,356,000 after purchasing an additional 8,851,795 shares during the period. Charles Schwab Investment Management Inc. grew its position in Darden Restaurants by 3.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,580,322 shares of the restaurant operator’s stock worth $587,638,000 after buying an additional 123,900 shares in the last quarter. Raymond James & Associates raised its holdings in Darden Restaurants by 1.9% in the 3rd quarter. Raymond James & Associates now owns 2,352,608 shares of the restaurant operator’s stock valued at $386,133,000 after acquiring an additional 44,464 shares in the last quarter. Earnest Partners LLC lifted its position in shares of Darden Restaurants by 1.2% during the 2nd quarter. Earnest Partners LLC now owns 1,591,541 shares of the restaurant operator’s stock valued at $240,832,000 after acquiring an additional 18,899 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Darden Restaurants by 111.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,469,083 shares of the restaurant operator’s stock worth $241,121,000 after purchasing an additional 772,907 shares in the last quarter. Institutional investors own 93.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DRI. UBS Group boosted their price target on Darden Restaurants from $188.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Wells Fargo & Company upped their price target on shares of Darden Restaurants from $160.00 to $165.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. Truist Financial lifted their price objective on shares of Darden Restaurants from $185.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, September 20th. 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. Finally, Wedbush boosted their price target on Darden Restaurants from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $180.88.

Darden Restaurants Price Performance

Shares of NYSE:DRI opened at $169.75 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.22 and a current ratio of 0.35. Darden Restaurants, Inc. has a 52 week low of $135.87 and a 52 week high of $177.67. The firm has a market cap of $19.95 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 1.97 and a beta of 1.31. The firm’s fifty day moving average is $165.01 and its 200-day moving average is $155.84.

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

Darden Restaurants Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 yield of 3.30%. The ex-dividend date was Thursday, October 10th. This is an increase from Darden Restaurants’s previous quarterly dividend of $1.29. Darden Restaurants’s dividend payout ratio is currently 64.59%.

Insiders Place Their Bets

In other Darden Restaurants news, insider Melvin John Martin sold 3,000 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $163.30, for a total transaction of $489,900.00. Following the completion of the sale, the insider now directly owns 12,601 shares in the company, valued at approximately $2,057,743.30. This trade represents a 19.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Laura B. Williamson sold 1,666 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $172.00, for a total value of $286,552.00. Following the completion of the transaction, the insider now directly owns 5,334 shares in the company, valued at $917,448. This represents a 23.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,265 shares of company stock worth $10,116,030. 0.58% of the stock is currently owned by insiders.

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.