Busey Bank Has $226,000 Stock Holdings in Darden Restaurants, Inc. (NYSE:DRI)

Busey Bank lowered its position in Darden Restaurants, Inc. (NYSE:DRI) by 8.0% during the 4th quarter, Holdings Channel reports. The fund owned 1,213 shares of the restaurant operator’s stock after selling 105 shares during the period. Busey Bank’s holdings in Darden Restaurants were worth $226,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC increased its position 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 acquiring an additional 8,851,795 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in 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. International Assets Investment Management LLC raised its stake in shares of Darden Restaurants by 16,996.9% in the third quarter. International Assets Investment Management LLC now owns 377,500 shares of the restaurant operator’s stock worth $61,959,000 after purchasing an additional 375,292 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Darden Restaurants in the third quarter valued at approximately $40,048,000. Finally, SG Americas Securities LLC boosted its position in shares of Darden Restaurants by 523.9% during the third quarter. SG Americas Securities LLC now owns 194,937 shares of the restaurant operator’s stock valued at $31,995,000 after buying an additional 163,693 shares during the last quarter. Institutional investors and hedge funds own 93.64% of the company’s stock.

Darden Restaurants Stock Performance

NYSE:DRI opened at $196.35 on Friday. The stock has a market cap of $23.00 billion, a P/E ratio of 22.49, a PEG ratio of 2.05 and a beta of 1.31. The company has a quick ratio of 0.23, a current ratio of 0.37 and a debt-to-equity ratio of 1.02. The business’s 50-day moving average price is $179.90 and its two-hundred day moving average price is $164.85. Darden Restaurants, Inc. has a twelve month low of $135.87 and a twelve month high of $196.65.

Darden Restaurants (NYSE:DRI) last announced its earnings results on Thursday, December 19th. The restaurant operator reported $2.03 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.03. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.87 billion. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. Darden Restaurants’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the previous year, the business posted $1.84 earnings per share. As a group, equities analysts predict that Darden Restaurants, Inc. will post 9.52 EPS for the current fiscal year.

Darden Restaurants Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $5.60 dividend on an annualized basis and a yield of 2.85%. Darden Restaurants’s dividend payout ratio is presently 64.15%.

Insider Buying and Selling at Darden Restaurants

In related news, insider Todd Burrowes sold 15,783 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $183.03, for a total transaction of $2,888,762.49. Following the transaction, the insider now directly owns 46,288 shares of the company’s stock, valued at approximately $8,472,092.64. This trade represents a 25.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Susan M. Connelly sold 9,264 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $184.68, for a total value of $1,710,875.52. Following the completion of the sale, the senior vice president now owns 4,567 shares of the company’s stock, valued at $843,433.56. The trade was a 66.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 45,034 shares of company stock worth $8,303,692 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DRI shares. Robert W. Baird increased their price target on Darden Restaurants from $180.00 to $194.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Truist Financial raised their price target on shares of Darden Restaurants from $195.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Citigroup reduced their price objective on shares of Darden Restaurants from $209.00 to $206.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. Bank of America boosted their target price on Darden Restaurants from $195.00 to $211.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. Finally, The Goldman Sachs Group started coverage on Darden Restaurants in a research report on Thursday, December 5th. They set a “neutral” rating and a $183.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $192.52.

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.