Ifrah Financial Services Inc. Sells 126 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Ifrah Financial Services Inc. trimmed its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 8.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,432 shares of the restaurant operator’s stock after selling 126 shares during the quarter. Ifrah Financial Services Inc.’s holdings in Darden Restaurants were worth $235,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Fortitude Family Office LLC purchased a new position in Darden Restaurants in the fourth quarter worth $29,000. Hartford Financial Management Inc. raised its holdings in shares of Darden Restaurants by 65.1% in the fourth quarter. Hartford Financial Management Inc. now owns 180 shares of the restaurant operator’s stock worth $30,000 after buying an additional 71 shares during the last quarter. Tennessee Valley Asset Management Partners purchased a new stake in shares of Darden Restaurants during the fourth quarter valued at $33,000. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Darden Restaurants in the 4th quarter valued at $35,000. Finally, Ancora Advisors LLC raised its stake in Darden Restaurants by 324.2% in the 3rd quarter. Ancora Advisors LLC now owns 280 shares of the restaurant operator’s stock worth $40,000 after acquiring an additional 214 shares during the last quarter. 93.64% of the stock is currently owned by institutional investors.

Darden Restaurants Price Performance

Darden Restaurants stock traded up $1.39 during midday trading on Friday, reaching $149.25. The company had a trading volume of 1,864,340 shares, compared to its average volume of 1,238,608. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.39 and a quick ratio of 0.25. Darden Restaurants, Inc. has a 12-month low of $133.36 and a 12-month high of $176.84. The company has a market capitalization of $17.81 billion, a P/E ratio of 17.50, a P/E/G ratio of 1.62 and a beta of 1.27. The firm’s fifty day simple moving average is $163.05 and its 200-day simple moving average is $159.75.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, March 21st. The restaurant operator reported $2.62 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.01). The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.02 billion. Darden Restaurants had a net margin of 9.24% and a return on equity of 49.94%. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 earnings per share. As a group, equities analysts anticipate that Darden Restaurants, Inc. will post 8.85 EPS for the current year.

Darden Restaurants announced that its board has authorized a stock buyback plan on Thursday, March 21st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the restaurant operator to buy up to 5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Darden Restaurants Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a dividend of $1.31 per share. The ex-dividend date was Tuesday, April 9th. This represents a $5.24 dividend on an annualized basis and a yield of 3.51%. Darden Restaurants’s payout ratio is 61.43%.

Insiders Place Their Bets

In other news, SVP Matthew R. Broad sold 4,707 shares of Darden Restaurants stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $156.15, for a total transaction of $734,998.05. Following the transaction, the senior vice president now owns 19,179 shares in the company, valued at approximately $2,994,800.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Melvin John Martin sold 7,673 shares of the stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $165.52, for a total transaction of $1,270,034.96. Following the completion of the transaction, the insider now directly owns 17,208 shares in the company, valued at approximately $2,848,268.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Matthew R. Broad sold 4,707 shares of the company’s stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $156.15, for a total transaction of $734,998.05. Following the completion of the transaction, the senior vice president now directly owns 19,179 shares in the company, valued at approximately $2,994,800.85. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,599 shares of company stock valued at $2,197,891. Insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DRI. Bank of America increased their price objective on Darden Restaurants from $193.00 to $198.00 and gave the company a “buy” rating in a report on Monday, March 18th. Stifel Nicolaus increased their price target on shares of Darden Restaurants from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Stephens initiated coverage on shares of Darden Restaurants in a research note on Friday, April 12th. They set an “equal weight” rating and a $170.00 price objective for the company. TD Cowen reiterated a “buy” rating and issued a $190.00 price objective on shares of Darden Restaurants in a research note on Monday, April 22nd. Finally, Wedbush decreased their target price on shares of Darden Restaurants from $187.00 to $181.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $178.85.

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.