Track market-moving stories before they get noisy

740 Followers

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

July 09, 2026 08:00 ET  | Source: IN8bio, Inc

First peer-reviewed publication of chemotherapy-resistant gamma-delta T cells (DeltEx Drug Resistant Immunotherapy or DRI) clinical results in newly diagnosed glioblastoma
Repeat-dose patients achieved median progression-free survival (mPFS) of 16.1 months, more than double the ~6.9-month standard of care benchmark, with no dose-limiting toxicities (DLTs) NEW YORK, July 09, 2026 (GLOBE NEWSWIRE) -- IN8bio, Inc. (Nasdaq: INAB), a clinical-stage biopharmaceutical company developing innovative gamma-delta (γδ) T cell therapies and T cell engagers for cancer and autoimmune diseases, today announced the publication of peer-reviewed clinical data from its Phase 1 trial of INB-200 in The Journal of Clinical Oncology (JCO), one of the most prestigious oncology journals.

The publication, titled: “Intracranial injection of ex vivo expanded and activated gamma-delta T cells engineered with a MGMT-expressing lentivector in patients with primary glioblastoma,” reports results from the first-in-human study of an autologous, genetically modified γδ T cell therapy. The expanded, activated γδ T cells are engineered to be resistant to chemotherapy (DeltEx DRI) and delivered intracranially in combination with standard of care (SOC) temozolomide chemotherapy (TMZ).

The Phase 1 trial is a frequency-escalation study of DeltEx DRI in GBM patients in combination with the SOC Stupp regimen (surgical resection followed by chemoradiation and maintenance chemotherapy). A total of 13 patients were enrolled and treated across three cohorts with subjects in their respective cohorts receiving 1, 3, or up to 6 doses of DeltEx DRI in 28-day cycles during maintenance chemotherapy. Evaluations included the safety and feasibility of repeated intracranial administration during maintenance chemotherapy.

GBM is the most common malignant primary brain tumor in adults and one of the most aggressive and difficult cancers to treat, with overall survival of only ~11 months and a five-year survival of ~5%. Despite overall advances across numerous cancer therapies, survival in GBM has been almost unchanged in more than 20 years with no new drug approvals and only a single device approval. Recurrence is nearly universal with GBM patients facing rapid decline, very limited treatment options, and poor outcomes.

In the Phase 1 study, DeltEx DRI in combination with SOC demonstrated a well-tolerated safety profile with no DLTs, no cytokine release syndrome (CRS), and no immune effector cell-associated neurotoxicity (ICANS) observed. The therapy also showed compelling signals of clinical activity. Across all 13 treated patients, mPFS was 9.9 months, and a 43.5% improvement over the 6.9 months typically reported with SOC alone. The results were most striking in repeat-dose patients (those receiving 3 to 6 doses) where mPFS reached 16.1 months, more than double the SOC benchmark. Overall survival (OS) was equally notable: median OS in repeat-dose patients was 19.5 months, compared to a historical SOC mOS of approximately 14.6 months in this patient population.

“These peer-reviewed results validate the scientific foundation of our DeltEx platform and highlight the transformative potential of γδ T cells in treating solid tumors,” said William Ho, Chief Executive Officer and Co-founder of IN8bio. “Glioblastoma remains one of the most devastating cancers, and patients urgently need new treatment options. By enabling immune cells to remain active alongside conventional chemotherapy and delivering them directly to the tumor, DeltEx DRI is designed to drive meaningful synergies, improve patient outcomes, and change the treatment paradigm for this disease.”

“Publication in The Journal of Clinical Oncology represents a significant milestone for this program and for the broader effort to bring effective immunotherapies to patients with glioblastoma,” said Burt Nabors, M.D., Professor of Neurology, Director of Neuro-Oncology at the O’Neal Comprehensive Cancer Center at the University of Alabama at Birmingham, and lead investigator of the study. “This trial demonstrates that intracranial delivery of chemotherapy-resistant γδ T cells is feasible and well tolerated. The encouraging signals of prolonged disease control and absence of immune-mediated toxicity, particularly with repeated dosing, provide a compelling rationale for continued clinical development of this novel therapeutic approach.”

Despite aggressive SOC treatment, residual tumor cells persist in nearly all GBM patients, a key reason the disease remains almost universally fatal. The DeltEx DRI technology directly addresses this challenge: γδ T cells are engineered to resist being killed by the chemotherapy that is administered concurrently, then delivered intracranially to the tumor site, where they can attack residual cancer cells and potentially achieve deeper, more durable tumor responses. These JCO-published results offer meaningful evidence that this strategy can extend disease control in these patients with significant unmet need and support its continued advancement as a potential new treatment paradigm for solid tumors. IN8bio expects to provide additional updates to the DeltEx DRI program in newly diagnosed GBM later this year.

About INB-200 and INB-400 (DeltEx™ Drug Resistant Immunotherapy)

INB-200 and INB-400 are an autologous, genetically modified gamma-delta T cell therapy engineered with an MGMT-expressing lentivector designed to resist alkylating chemotherapy. The therapy is administered intracranially and is intended to work in combination with temozolomide to target residual tumor cells, enhance immune activation, and prolong disease control in patients with glioblastoma.

About IN8bio

IN8bio is a clinical-stage biopharmaceutical company developing γδ T cell and γδ T cell engager (TCE) product candidates to address unmet medical needs. γδ T cells are a specialized population of T cells that possess unique properties, including the ability to differentiate between healthy and diseased tissue. The Company’s pipeline is anchored by INB-600, a novel γδ T cell engager platform with potential applications across oncology and autoimmune indications. IN8bio is also advancing INB-100, an allogeneic γδ T cell candidate for adult patients with high-risk leukemias undergoing haploidentical stem cell transplantation, and INB-200/400, an autologous genetically modified γδ T cell candidate for newly diagnosed glioblastoma (GBM). For more information about IN8bio, visit www.IN8bio.com.

Forward-Looking Statements

This press release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will” and variations of these words or similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these words. Forward-looking statements in this press release include, but are not limited to, statements regarding: the therapeutic potential of IN8bio’s product candidates; the potential of DeltEx DRI γδ T cell therapy to improve outcomes in patients with newly diagnosed glioblastoma; IN8bio’s ability to achieve anticipated milestones, including continued clinical development and regulatory engagement; and other statements that are not historical fact. IN8bio may not actually achieve the plans, intentions or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from those anticipated as a result of various factors, including: risks to clinical trial progress, patient enrollment and follow-up; uncertainties inherent in the initiation and completion of clinical trials; whether outcomes from prior studies will be predictive of future clinical results; and other important factors described in greater detail in the section entitled “Risk Factors” in IN8bio’s most recent filings with the Securities and Exchange Commission (SEC). Any forward-looking statements contained in this press release speak only as of the date hereof, and IN8bio expressly disclaims any obligation to update any forward-looking statements contained herein, except as otherwise required by law.

Investors & Company Contacts:

IN8bio, Inc.
Patrick McCall
646.933.5603
[email protected]

Media Contact

Kimberly Ha
KKH Advisors
917.291.5744
[email protected]

Key Takeaways Darden grew fiscal 2026 earnings and sales, supported by same-restaurant gains and 43 net new restaurants.DRI returned about $1.4B to shareholders while funding expansion and reducing long-term debt.Darden expects about 3% inflation as pricing below inflation may limit margin expansion. Darden Restaurants (DRI - Free Report) presents a balanced investment debate after fiscal 2026 results. Earnings grew, revenues increased and the company kept returning cash to shareholders while investing in new restaurants.

The counterpoint is clear. Estimate revisions, softer momentum indicators, cost inflation and consumer spending sensitivity keep the buy case from becoming automatic.

DRI Earnings Growth Supports the Bull CaseDarden’s fiscal 2026 adjusted earnings per share rose to $10.64 from $9.55 in fiscal 2025. Fourth-quarter adjusted earnings per share increased 22.8% year over year to $3.66, giving investors a clear earnings growth base to evaluate.

Sales also moved higher. Total fiscal 2026 sales increased to $13.21 billion from $12.08 billion, supported by same-restaurant sales growth, an extra operating week and contributions from 43 net new restaurants.

The strength was not limited to one metric. Blended same-restaurant sales rose 4.5% for fiscal 2026, with Olive Garden up 4% and LongHorn Steakhouse up 7.2%. That mix gives Darden a firmer foundation than a pure cost-cutting earnings story.

Darden Valuation Looks More Reasonable NowDRI trades at 17.6X forward 12-month earnings. That sits below the Zacks sub-industry multiple of 22.83X, the sector multiple of 22.59X and the S&P 500’s 20.8X, making valuation a more constructive part of the investment case.

The multiple is close to Darden’s five-year median of 17.53X and below the five-year high of 22.86X. That does not make the stock cheap in isolation, but it suggests the valuation reset has reduced the risk of paying peak multiples for steady growth.

Chipotle Mexican Grill (CMG - Free Report) remains a relevant fast-casual comparison for investors weighing restaurant growth and valuation trade-offs. Restaurant Brands International (QSR - Free Report) offers another peer reference, with a franchised restaurant model that differs from Darden’s company-owned full-service portfolio.

DRI Returns Cash While Funding ExpansionCapital allocation strengthens Darden’s investment profile. The company returned approximately $1.4 billion to shareholders in fiscal 2026 through dividends and share repurchases while continuing to fund restaurant development.

Darden also raised its quarterly dividend 8% to $1.62 per share and authorized a new $1.5 billion share repurchase program. Long-term debt declined to $1.64 billion at fiscal 2026-end from $2.13 billion at the end of fiscal 2025.

That balance matters because the company is not choosing between growth and shareholder returns. Fiscal 2027 guidance calls for 75 to 80 new restaurant openings and capital spending of approximately $875 million, keeping expansion active alongside cash returns.

Darden Has Reasons for Investor CautionThe caution case starts with revenue expectations. Fourth-quarter sales of $3.72 billion missed the consensus mark of $3.74 billion, even though sales increased 13.7% year over year.

Estimate trends are also not fully supportive. The current fiscal-year earnings estimate showed a negative 1% change over the past four weeks, which limits the case for a more aggressive near-term view.

Costs remain another issue. Management expects roughly 3% total inflation in fiscal 2027, with beef inflation highest early in the year. Darden is pricing below inflation to protect its value proposition, a strategy that can support traffic but may constrain margin expansion.

DRI Ratings Point to a Wait-and-See ViewThe bottom line is that DRI looks fundamentally steady, but not decisively attractive enough to remove the debate. Earnings growth, cash generation, restaurant expansion and a more reasonable valuation support the stock, while sales misses, estimate pressure and inflation risk keep expectations measured.

The stock currently carries a Zacks Rank #3 (Hold). That rank lines up with a wait-and-see stance rather than a clear buy signal, especially when near-term estimate revisions have not strengthened. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Darden has a VGM Score of B, supported by a Growth Score of A. Those scores point to favorable growth characteristics within the Zacks Style Scores framework.

The Value Score of C and Momentum Score of D keep the overall signal mixed. For investors, that combination suggests DRI has solid earnings support, but stronger estimate trends or better price momentum would make the investment case more convincing.

Darden Restaurants' NYSE: DRI stock price is on track to hit new highs because its high-quality business is outperforming peers, growing across brands, generating ample cash flows, and sustaining a robust capital return program. The capital return program is a significant factor in 2026, with investors reducing exposure to high-risk tech stocks in favor of safer havens. For Darden Investors, that means a reliable dividend with market-beating yield and aggressive share buybacks.

Darden Restaurants Today

DRI

Darden Restaurants

$213.79 +0.07 (+0.03%)

As of 06/26/2026 03:59 PM Eastern

This is a fair market value price provided by Massive. Learn more.

52-Week Range$169.00▼

$222.56Dividend Yield2.81%

P/E Ratio20.60

Price Target$228.32

Dividends yield 2.8% with shares trading near record highs. The record highs are another significant factor in 2026, as DRI’s price action has been winding up within a range for the past 18 months. Assuming a break to new highs, the technical setup suggests a $60 upside from the critical resistance level, potentially reached within months. Triggers for the market include expected dividend increases, which have been growing at a double-digit annual rate, and buybacks.

Get Darden Restaurants alerts:

Darden’s management expressed high confidence in future cash flows by increasing its buyback allotment. The fiscal-year authorization of $1.5 billion represents more than 6% of the late-June market, keeping the company on track to sustain its aggressive pace. As it stands, the fiscal year 2026 (FY2026) activity reduced the count by an average of 1.7% for the year and by 2.2% for Q4 FY2026.

Darden Gobbles Up the Competition in Fiscal Q4Darden Restaurants had a solid quarter with revenue growing by 13.7% to $3.72 billion. Earnings results were strong, even accounting for an extra week in the quarter. Comps were up by 4.6% across the network. Longhorn Steakhouse led, growing by 9.5%, followed by a 4.6% increase in Other, a 2.4% increase at Olive Garden, and a 1.9% increase at Fine Dining establishments. New stores accounted for 2% of the growth.

Margin news was also good. The company managed to control costs and drive improved bottom-line results. Adjusted earnings grew by an accelerated 22.8%, nearly doubling the top-line advance, and outpaced the consensus despite a slim miss in revenue. Looking ahead, earnings strength is expected to continue, as reflected in the guidance. The only bad news is that the earnings-per-share mid-point of $11.225 was below the consensus estimate, which could produce a headwind for near-term price action.

Analysts and Institutions Support Darden Restaurants Stock in 2026Analysts' bullish trends provide support for the market. MarketBeat tracks 27 who rate the stock as a consensus Moderate Buy with 63% Buy-side bias in the data. The consensus price target assumes fair value near the current all-time high, but recent revisions are pushing the upper end of the range. Bank of America set a high target in early June of $276, well above the existing high and nearly a 30% gain from the pre-release close.

Overall MarketRank™76th Percentile

Analyst RatingModerate Buy

Upside/Downside6.8% Upside

Short Interest LevelBearish

Dividend StrengthModerate

News Sentiment0.62 Insider TradingSelling Shares

Proj. Earnings Growth9.56%

See Full Analysis

Institutional activity also reflects support and a high potential for this group to buy DRI shares upon price weakness. They own about 94% of the stock and have been aggressively accumulating at a $2-to-$1 pace over the trailing 12 months. Their activity ramped up in late 2025 and early 2026 as price action pulled back from near-record highs, and will likely do so again when a discount presents itself. Short interest is mildly elevated at nearly 5%, but not a problem at this time, more likely tied to hedging activity than bearish trading.

Darden’s stock price fell about 3% in premarket trading following earnings release, before recovering partially after the open. Long-term, the decline could extend further. The caveat is that this market pulled back to a congestion zone where buyers are likely waiting.

The more likely scenario is that the DRI price stock bottoms quickly, confirming support in the $190 to $200 range by summer’s end, while the less likely scenario is that price action falls significantly further. The critical support target is $190; a move below it could trigger a fall to $175 or lower.

Darden’s biggest risks this year are consumer trends and commodity prices. Consumer trends are sluggish, impaired by inflationary pressures, but not yet reflected in DRI results. Commodity pricing, specifically beef, is a more pressing issue impairing restaurant-level margins. The company’s solution is to increase prices slowly, trailing inflation, to keep consumers coming back while mitigating cost increases.

Other offsets include operational efficiencies, scaling purchase agreements across brands, and hedging activities in anticipation of future price changes. Catalysts include the integration and scaling of its acquisitions, the conversion of Bahama Breeze to new formats, and the expansion of its footprint. The 2027 guidance includes plans for up to 80 new stores, a 3.6% increase relative to 2026’s final count.

Should You Invest $1,000 in Darden Restaurants Right Now?Before you consider Darden Restaurants, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Darden Restaurants wasn't on the list.

While Darden Restaurants currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Click the link to see MarketBeat's list of seven stocks and why their long-term outlooks are very promising.

Get This Free Report

Key Takeaways Darden topped Q4 EPS estimates, while revenues came in just below consensus at $3.72 billion.DRI guided fiscal 2027 sales of $13.6B-$13.75B and same-restaurant sales growth of 2.5-3.5%.LongHorn posted 9.5% same-restaurant sales growth, with segment profit margin up 110 basis points. Darden Restaurants, Inc. (DRI - Free Report) closed fourth-quarter fiscal 2026 with management emphasizing a familiar message that gained more weight in its latest earnings call. The company believes disciplined pricing, a broader brand mix and steady unit growth can keep it ahead of the casual dining industry.

That framing mattered as DRI posted adjusted EPS of $3.66, topping the Zacks Consensus Estimate of $3.63 by 0.8%. Revenues of $3.72 billion came in just below the $3.73 billion consensus mark, with a negative surprise of 0.4%.

DRI Leans on Portfolio BreadthCEO Ricardo Cardenas used much of his prepared commentary to argue that DRI’s portfolio is becoming more balanced and less dependent on Olive Garden. Cardenas said the company’s reach across cuisines, price points and dining occasions reduces reliance on any one brand and gives management more levers to drive growth.

CFO Rajesh Vennam backed that up by noting Olive Garden represented 42% of fiscal 2026 sales and 47% of segment profit, down from 50% and 55%, respectively, in fiscal 2019. Vennam said that the shift reflected both LongHorn’s consistent expansion and a bigger contribution from the rest of the portfolio, including acquisitions.

That broader mix sits behind management’s long-term case for 3% to 4% unit growth, with Olive Garden expected to trend toward the low end, LongHorn to the high end and smaller brands growing at or above that range.

Darden Sets Fiscal 2027 GuardrailsDarden’s fiscal 2027 outlook was one of the call’s clearest investor takeaways. Management guided for total sales of $13.6 billion to $13.75 billion, same-restaurant sales growth of 2.5% to 3.5%, EBITDA of $2.26 billion to $2.29 billion and EPS of $11.10 to $11.35.

The assumptions underneath that range were equally important. Vennam said the outlook includes about 3% total inflation, including commodities inflation of about 3% and labor inflation of about 3.5%, plus roughly $875 million in capital spending and 75 to 80 gross openings.

He also highlighted 11 Bahama Breeze conversions and said the step-up in openings would create about a $15 million profit impact and roughly a 10-cent EPS drag for the year. Even with that added growth cost, management said the guidance still implies a flat to positive earnings-after-tax margin.

DRI Says Traffic Held UpOn the demand backdrop, Cardenas said consumer spending remained resilient even as sentiment stayed cautious. He told analysts that the company did not see a major change from recent quarters and the same-restaurant sales cadence was fairly consistent through the quarter.

That message was supported by the quarter’s operating numbers. DRI reported 4.6% same-restaurant sales growth, positive traffic growth and adjusted EBITDA of $678 million, while management said both same-restaurant sales and guest counts exceeded the industry benchmark by more than 300 basis points.

Cardenas also pointed to a year-over-year increase in visits from all income groups at the company’s casual brands, including the lowest income quintile. He said guests under 35 were softer, but management’s tone on overall demand remained steady rather than defensive.

Darden Defends Olive Garden PlaybookQuestions around Olive Garden centered on value, traffic and margin durability. Vennam said the brand should land near the lower end of DRI’s 2.5% to 3.5% same-restaurant sales range in fiscal 2027, but he also said margins should be flat to positive.

Cardenas defended the company’s approach to “lighter portions” and other menu changes as long-term brand investments rather than short-term traffic tactics. He confirmed the items are not being heavily featured, but customers using them are returning more frequently, and management will keep applying filters around simplicity, value and brand equity.

In another notable Q&A exchange, management said Olive Garden made meaningful progress on speed of service in the last quarter, with service and pace-of-meal scores rising. That suggested operational execution, not just menu news, remains central to the brand’s plan for fiscal 2027.

DRI Sees LongHorn as a Share GainerLongHorn was the clearest standout on the call. The chain posted 9.5% same-restaurant sales growth in the quarter, and management said its value, food quality and service continue to resonate with guests.

Cardenas said years of food-quality investment are still paying off, while Vennam noted the brand’s average unit volumes have climbed to $5.6 million after more than 20% same-restaurant sales growth over the past three years. Fiscal fourth-quarter segment profit margin reached 21.2%, up 110 basis points from a year earlier.

Management also acknowledged some trade-down from fine dining and some trade-in from retail. That exchange reinforced the idea that LongHorn is benefiting from both brand-specific execution and a favorable value position in a high-beef-inflation environment.

Darden Keeps the Focus on ExecutionThe closing tone of the call was measured and consistent. Management repeatedly returned to controlling what it can control, especially execution, pricing discipline and new-unit growth, instead of relying on a stronger industry backdrop.

DRI also paired that posture with continued shareholder returns. The company returned $310 million in the quarter and $1.4 billion in fiscal 2026. The board approved an 8% increase in the quarterly dividend to $1.62 per share.

Zacks Signals for DRIDRI carries a Zacks Rank #3 (Hold), along with a Value Score of C, Growth Score of B, Momentum Score of A and VGM Score of B. Under Zacks’ framework, the rank remains the first screen, while Style Scores help gauge value, growth and momentum characteristics over the next one to three months.

That combination points to supportive growth and momentum characteristics, but a Hold-rated stock does not carry the same near-term implication as a Zacks Rank #1 (Strong Buy) or 2 (Buy). The current rank can also change as earnings estimate revisions move after the quarter. You can see the complete list of today’s Zacks #1 Rank stocks here.

Darden Restaurants, Inc. (DRI) Q4 2026 Earnings Call June 25, 2026 8:30 AM EDT

Company Participants

Courtney Aquilla - Vice President of Finance & Investor Relations
Ricardo Cardenas - CEO, President & Director
Rajesh Vennam - Senior VP & CFO

Conference Call Participants

Lauren Silberman - Deutsche Bank AG, Research Division
Gregory Francfort - Guggenheim Securities, LLC, Research Division
Christopher Carril - KeyBanc Capital Markets Inc., Research Division
Andrew Charles - TD Cowen, Research Division
Danilo Gargiulo - Bernstein Institutional Services LLC, Research Division
David Palmer - Evercore ISI Institutional Equities, Research Division
Sara Senatore - BofA Securities, Research Division
Brian Harbour - Morgan Stanley, Research Division
Jon Tower - Citigroup Inc., Research Division
Dennis Geiger - UBS Investment Bank, Research Division
Andrew North - Robert W. Baird & Co. Incorporated, Research Division
James Salera - Stephens Inc., Research Division
Peter Saleh - BTIG, LLC, Research Division
Jacob Aiken-Phillips - Melius Research LLC
Andrew Strelzik - BMO Capital Markets Equity Research
John Ivankoe - JPMorgan Chase & Co, Research Division
James Sanderson - Northcoast Research Partners, LLC
Brian Vaccaro - Raymond James & Associates, Inc., Research Division
Jeffrey Bernstein - Barclays Bank PLC, Research Division

Presentation

Operator

Greetings, and welcome to the Darden Fiscal Year 2026 Fourth Quarter Earnings Call. [Operator Instructions] This conference is being recorded. If you have any objections, you may disconnect at this time.

I will now turn the call over to Ms. Courtney Aquilla. Thank you. You may begin.

Courtney Aquilla
Vice President of Finance & Investor Relations

Thank you, Kevin. Good morning, and thank you for participating on today's call. Joining me are Rick Cardenas, Darden's President and CEO; and Raj Vennam, CFO.

As a reminder, comments made during this call will include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our

Darden Restaurants, Inc. delivered strong Q4 results, with broad-based same-restaurant sales growth and margin expansion despite commodity inflation. DRI's scale enables it to lock in food costs, supporting stable margins and gradual menu price increases, driving market share gains. The company maintains a robust balance sheet, a secure 2.8% dividend yield, and an active buyback program, enhancing shareholder returns.

, /PRNewswire/ -- Darden Restaurants, Inc. (NYSE:DRI) today reported its financial results for the fourth quarter and fiscal year ended May 31, 2026, which included a 53rd week of operations compared to 52 weeks last year.

Fourth Quarter 2026 Financial Highlights

Total sales increased 13.7% to $3.72 billion driven by 7.6% in additional sales from an extra week of operations, a blended same-restaurant sales1 increase of 4.6%, and sales from 43 net new restaurants Same-restaurant sales:
               ‌

Consolidated Darden1

4.6 %

Olive Garden

2.4 %

LongHorn Steakhouse

9.5 %

Fine Dining

1.9 %

Other Business1

4.6 %

Reported diluted net earnings per share from continuing operations were $3.54 Excluding $0.12 of costs primarily related to restaurant closures and associated impairments and the Chuy's integration, adjusted diluted net earnings per share from continuing operations were $3.66, an increase of 22.8%2 The extra week of operations contributed $0.25 to both reported and adjusted diluted net earnings per share from continuing operations The Company repurchased $138 million3 of its outstanding common stock Fiscal 2026 Financial Highlights

Total sales increased 9.4% to $13.21 billion driven by 2.1% in additional sales from an extra week of operations, a blended same-restaurant sales4 increase of 4.5%, and sales from 43 net new restaurants Same-restaurant sales:
                ‌

Consolidated Darden4

4.5 %

Olive Garden

4.0 %

LongHorn Steakhouse

7.2 %

Fine Dining

1.2 %

Other Business4

3.9 %

Reported diluted net earnings per share from continuing operations were $10.44 Excluding $0.20 primarily related to restaurant closures and associated impairments, income tax adjustments and benefits, the Chuy's integration, and the Olive Garden Canada sale, adjusted diluted net earnings per share from continuing operations were $10.64, an increase of 11.4%2 The extra week of operations contributed $0.25 to both reported and adjusted diluted net earnings per share from continuing operations
1   Quarter same-restaurant sales is a 13-week metric and excludes the impact of Bahama Breeze as all locations are expected to be closed or converted to other brands (between Q3 fiscal 2026 and Q4 fiscal 2027).

2  See the "Non-GAAP Information" below for more details.

3  Inclusive of 1% excise tax incurred on net repurchases, resulting from the Inflation Reduction Act of 2022.

4   Annual same-restaurant sales is a 52-week metric and excludes the impact of Chuy's, as they were not owned and operated by Darden for a 16-month period prior to the beginning of Fiscal 2026, as well as Bahama Breeze as all locations are expected to be closed or converted to other brands (between Q3 fiscal 2026 and Q4 fiscal 2027).

"The fourth quarter was a strong finish to an excellent year, one in which we significantly outperformed the industry," said Darden President & CEO Rick Cardenas. "Our restaurant teams continued to execute at a high level and that consistent execution helped each of our brands deliver positive same-restaurant sales for the quarter.

"Our performance throughout the fiscal year reflects the strength of our brands, the discipline of our strategy, and the quality of our teams. With the right brands, strategy, and team in place, I am confident we are well positioned to continue growing the business and creating long-term shareholder value."

Segment Performance
Segment profit represents sales, less costs for food and beverage, restaurant labor, restaurant expenses and marketing expenses. Segment profit excludes non-cash real estate related expenses. Sales and profits from Chuy's restaurants are included within the Other Business segment from the date of acquisition forward.

Q4 Sales

Q4 Segment Profit

($ in millions)

2026

2025

2026

2025

Consolidated Darden

$3,718.8

$3,271.7

Olive Garden

$1,538.0

$1,381.0

$373.0

$328.4

LongHorn Steakhouse

$1,016.5

$833.8

$215.2

$167.8

Fine Dining

$371.0

$334.6

$69.0

$62.9

Other Business

$793.3

$722.3

$142.1

$126.3

Annual Sales

Annual Segment Profit

($ in millions)

2026

2025

2026

2025

Consolidated Darden

$13,210.9

$12,076.7

Olive Garden

$5,594.8

$5,212.9

$1,257.9

$1,163.9

LongHorn Steakhouse

$3,423.0

$3,025.5

$635.1

$582.7

Fine Dining

$1,375.7

$1,304.8

$243.1

$242.5

Other Business

$2,817.4

$2,533.5

$446.9

$397.4

Dividend Declared
Darden's Board of Directors declared a quarterly cash dividend of $1.62 per share on the Company's outstanding common stock, an 8.0% increase from the third quarter of fiscal 2026. The dividend is payable on August 3, 2026 to shareholders of record at the close of business on July 10, 2026.

Share Repurchase Program
During the quarter, the Company repurchased approximately 0.7 million shares of its common stock for a total of $138 million4. In addition, on Wednesday, June 24, 2026, Darden's Board of Directors authorized a new share repurchase program under which the Company may repurchase up to $1.5 billion of its outstanding common stock. This repurchase program does not have an expiration and replaces the previously existing share repurchase authorization.

"Our strong operating model generates significant and durable cash flows," said Darden CFO Raj Vennam. "Since 2019, we have delivered 9% annualized adjusted EBITDA growth. This consistent cash generation provides more than sufficient capacity each year to fund the core requirements of the business, including maintenance capital to sustain our existing asset base, continued growth of our dividend, and investment in new restaurant development."

Fiscal 2027 Financial Outlook
Below is the full year financial outlook for fiscal 2027. We will provide more details during our investor conference call scheduled for this morning at 8:30 am ET.

Total sales of $13.60 billion to $13.75 billion Same-restaurant sales5 growth of 2.5% to 3.5% New restaurant openings of 75 to 80 Total capital spending of approximately $875 million Total inflation of approximately 3.0% An effective tax rate of approximately 13.5% Diluted net earnings per share from continuing operations of $11.10 to $11.35 EBITDA of $2.26 to $2.29 billion2 Approximately 114 million weighted average diluted shares outstanding
5    Annual same-restaurant sales is a 52-week metric and excludes the impact of Bahama Breeze as all locations are expected to be closed or converted to other brands (between Q3 fiscal 2026 and Q4 fiscal 2027).

Annual Meeting of Shareholders
Darden will hold its Annual Meeting of Shareholders on September 23, 2026. The meeting will be held in a virtual format only. The record date for shareholders to vote in the Annual Meeting is July 29, 2026.

Investor Conference Call
The Company will host a conference call today, Thursday, June 25, 2026 at 8:30 am ET to review its recent financial performance, which will be available via a live webcast through the Company's Investor Relations website at investor.darden.com.  Please allow extra time prior to the call to visit the site and download any software required to listen to the webcast. Supplemental materials will be available on the Investor Relations website prior to the start of the conference call. For those who are unable to listen to the live broadcast, a replay will be available shortly after the call.

About Darden
Darden is a restaurant company featuring a portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Yard House, Ruth's Chris Steak House, Cheddar's Scratch Kitchen, The Capital Grille, Chuy's, Seasons 52, and Eddie V's. For more information, please visit www.darden.com.

Information About Forward-Looking Statements
Forward-looking statements in this communication regarding our expected earnings performance and all other statements that are not historical facts, including without limitation statements concerning our future economic performance, are made under the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "may," "will," "expect," "intend," "focus," "anticipate," "continue," "could," "estimate," "project," "believe," "plan," "outlook," or similar expressions. Any forward-looking statements speak only as of the date on which such statements are first made, and we undertake no obligation to update such statements to reflect events or circumstances arising after such date. We wish to caution investors not to place undue reliance on any such forward-looking statements. By their nature, forward-looking statements involve risks and uncertainties that could cause actual results to materially differ from those anticipated in the statements. The most significant of these uncertainties are described in Darden's Form 10-K, Form 10-Q and Form 8-K reports. These risks and uncertainties include: a failure to address cost pressures and a failure to effectively deliver cost management activities and achieve some economies of scale in purchasing, certain economic and business factors and their impacts on the restaurant industry and other general macroeconomic factors including unemployment, energy prices, tariffs and interest rates, the inability to hire, train, reward and retain restaurant team members and determine and maintain adequate staffing, a failure to recruit, develop and retain effective leaders or the loss or shortage of personnel with key capacities and skills that could impact our strategic direction, increased labor and insurance costs, health concerns arising from food-related pandemics, outbreaks of flu, viruses or other diseases, food safety and food-borne illness concerns, insufficient guest or employee facing technology or a failure to maintain a continuous and secure cyber network, compliance with privacy and data protection laws and risks of failures or breaches of our data protection systems,  risks relating to public policy changes and federal, state and local regulation of our business, intense competition, changing consumer preferences, an inability or failure to recognize, respond to and effectively manage the accelerated impact of social media, a failure to identify and execute innovative marketing and guest relationship tactics, ineffective or improper use of other marketing initiatives and increased advertising and marketing costs, climate change, adverse weather conditions and natural disasters, long-term and non-cancelable property leases, inability or failure to execute a business continuity plan following a major natural disaster, shortages, delays or interruptions in the delivery of food and other products and services from our third-party vendors and suppliers, failure to drive profitable sales growth, a lack of availability of suitable locations for new restaurants or a decline in the quality of locations of our current restaurants, higher-than-anticipated costs associated with the opening of new restaurants or with the closing, relocating or remodeling of existing restaurants, risks associated with doing business with franchisees, licensees and vendors in foreign markets, volatility in the market value of derivatives, volatility in the U.S. equity markets affecting our ability to efficiently hedge exposures, failure to protect our intellectual property, our reporting on environmental, social and governance matters or our sustainability ratings, litigation, unfavorable publicity or failure to respond effectively to adverse publicity, disruptions in the financial and credit markets, impairment of the carrying value of our goodwill or other intangible assets, changes in tax laws or unanticipated tax liabilities, failure of our internal controls over financial reporting and future changes in accounting standards, and other factors and uncertainties discussed from time to time in reports filed by Darden with the Securities and Exchange Commission.

Non-GAAP Information
The information in this press release includes financial information determined by methods other than in accordance with U.S. generally accepted accounting principles ("GAAP"), such as adjusted diluted net earnings per share from continuing operations and Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA"). The Company's management uses these non-GAAP measures in its analysis of the Company's performance. The Company believes that the presentation of certain non-GAAP measures provides useful supplemental information that is essential to a proper understanding of the operating results of the Company's businesses. These non-GAAP disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies. Reconciliations of these non-GAAP measures are included in this release.

(Analysts) Courtney Aquilla, (407) 245-5054; (Media) Rich Jeffers, (407) 245-4189

Fiscal Q4 Reported to Adjusted Earnings Reconciliation

Q4 2026

Q4 2025

$ in millions, except per share amounts

Earnings
Before
Income
Tax

Income
Tax
Expense

Net
Earnings

Diluted
Net
Earnings
Per
Share

Earnings
Before
Income
Tax

Income
Tax
Expense

Net
Earnings

Diluted
Net
Earnings
Per
Share

Reported Earnings from Continuing Operations

$ 465.6

$  57.8

$ 407.8

$  3.54

$ 336.5

$  32.5

$ 304.0

$  2.58

Adjustments:

Closed restaurant and other strategic review costs6

7.2

1.5

5.7

0.05

9.2

2.3

6.9

0.06

    General and administrative expenses

4.3

0.7

3.6

0.03

9.2

2.3

6.9

0.06

    Depreciation and amortization

2.9

0.8

2.1

0.02

—

—

—

—

Impairment due to restaurant closures7

9.7

2.4

7.3

0.06

47.7

11.9

35.8

0.30

Chuy's integration related one-time costs

1.1

0.3

0.8

0.01

7.0

2.1

4.9

0.04

Adjusted Earnings from Continuing Operations

$ 483.6

$  62.0

$ 421.6

$  3.66

$ 400.4

$  48.8

$ 351.6

$  2.98

% Change vs Prior Year

22.8 %

Fiscal YTD Reported to Adjusted Earnings Reconciliation

2026

2025

$ in millions, except per share amounts

Earnings
Before
Income
Tax

Income
Tax
Expense

Net
Earnings

Diluted
Net
Earnings
Per
Share

Earnings
Before
Income
Tax

Income
Tax
Expense

Net
Earnings

Diluted
Net
Earnings
Per
Share

Reported Earnings from Continuing Operations

$         1,388.6

$ 174.9

$         1,213.7

$ 10.44

$         1,187.2

$ 136.2

$         1,051.0

$  8.88

Adjustments:

Closed restaurant and other strategic review costs6

19.4

4.5

14.9

0.13

9.2

2.3

6.9

0.06

    General and administrative expenses

15.7

3.6

12.1

0.10

9.2

2.3

6.9

0.06

    Depreciation and amortization

3.7

0.9

2.8

0.03

—

—

—

—

Impairment due to restaurant closures7

34.8

8.6

26.2

0.22

47.7

11.9

35.8

0.30

Income tax adjustments and benefits

—

(7.1)

7.1

0.06

—

—

—

—

Chuy's integration related one-time costs

9.5

2.4

7.1

0.06

44.6

7.9

36.7

0.31

Gain on Olive Garden Canada sale

(42.1)

(10.5)

(31.6)

(0.27)

—

—

—

—

    Impairment and restaurant disposals, net

(42.3)

(10.5)

(31.8)

(0.27)

—

—

—

—

    General and administrative expenses

0.2

—

0.2

—

—

—

—

—

Adjusted Earnings from Continuing Operations

$         1,410.2

$ 172.8

$         1,237.4

$ 10.64

$         1,288.7

$ 158.3

$         1,130.4

$  9.55

% Change vs Prior Year

11.4 %

YTD Adjusted EBITDA Reconciliation

$ in millions

5/26/2019

5/31/2026

Net Earnings from Continuing Operations

$      718.6

$     1,213.7

Interest, Net

50.2

194.2

Income Tax Expense (Benefit)

63.7

174.9

Depreciation and Amortization

336.7

561.1

EBITDA

$    1,169.2

$     2,143.9

Adjustments:

Restaurant impairments7

14.6

34.8

Chuy's integration related one-time costs

—

9.5

Restaurant closing costs6

—

15.7

Gain on Olive Garden Canada sale

—

(42.1)

Adjusted EBITDA

$    1,183.8

$     2,161.8

Fiscal 2027 EBITDA Outlook Reconciliation

Net Earnings from Continuing Operations

$1.26 billion

to

$1.29 billion

Interest, Net

$0.21 billion

$0.20 billion

Income Tax Expense

$0.19 billion

$0.20 billion

Depreciation and Amortization

$0.60 billion

$0.60 billion

EBITDA

$2.26 billion

to

$2.29 billion

6  Closed restaurant costs and costs related to the exploration of strategic alternatives for the Bahama Breeze brand

7  Fiscal 2026 impairment costs due to non-cash asset impairment charges primarily related to the closures of Bahama Breeze locations and another underperforming location in the fourth quarter of fiscal 2026.  Fiscal 2025 impairment costs were due to restaurant closures primarily related to the closure of 22 underperforming restaurants that were permanently closed during the fourth quarter of fiscal 2025. Fiscal 2019 non-cash asset impairment charges related to four underperforming restaurants whose projected cash flows were not sufficient to cover their respective carrying values.

DARDEN RESTAURANTS, INC.

NUMBER OF COMPANY-OWNED RESTAURANTS

5/31/26

5/25/25

Olive Garden

949

935

LongHorn Steakhouse

618

591

Cheddar's Scratch Kitchen

184

181

Chuy's

110

108

Yard House

93

88

Ruth's Chris Steak House

83

82

The Capital Grille

74

71

Seasons 52

44

43

Eddie V's

31

29

Bahama Breeze

13

28

The Capital Burger

3

3

Darden Continuing Operations

2,202

2,159

DARDEN RESTAURANTS, INC.

CONSOLIDATED STATEMENTS OF EARNINGS

(In millions, except per share data)

(Unaudited)

Three Months Ended

Twelve Months Ended

5/31/2026

5/25/2025

5/31/2026

5/25/2025

Sales

$   3,718.8

$     3,271.7

$  13,210.9

$  12,076.7

Costs and expenses:

Food and beverage

1,119.3

983.9

4,038.8

3,657.0

Restaurant labor

1,147.4

1,022.0

4,182.4

3,833.1

Restaurant expenses

586.0

517.1

2,127.2

1,944.0

Marketing expenses

43.2

41.0

180.4

169.9

Pre-opening costs

11.7

8.7

34.5

24.8

General and administrative expenses

139.0

133.1

514.4

520.3

Depreciation and amortization

146.3

135.0

561.1

516.1

Impairments and disposal of assets, net

9.1

48.1

(10.7)

49.2

Total operating costs and expenses

$   3,202.0

$     2,888.9

$  11,628.1

$  10,714.4

Operating income

516.8

382.8

1,582.8

1,362.3

Interest, net

51.2

46.3

194.2

175.1

Earnings before income taxes

465.6

336.5

1,388.6

1,187.2

Income tax expense

57.8

32.5

174.9

136.2

Earnings from continuing operations

$     407.8

$       304.0

$   1,213.7

$   1,051.0

Losses from discontinued operations, net of tax benefit of $1.3, $0.1, $2.9 and
$0.8, respectively

(2.9)

(0.2)

(7.0)

(1.4)

Net earnings

$     404.9

$       303.8

$   1,206.7

$   1,049.6

Basic net earnings per share:

Earnings from continuing operations

$       3.57

$        2.60

$     10.51

$       8.94

Losses from discontinued operations

(0.03)

(0.01)

(0.06)

(0.01)

Net earnings

$       3.54

$        2.59

$     10.45

$       8.93

Diluted net earnings per share:

Earnings from continuing operations

$       3.54

$        2.58

$     10.44

$       8.88

Losses from discontinued operations

(0.03)

—

(0.06)

(0.02)

Net earnings

$       3.51

$        2.58

$     10.38

$       8.86

Average number of common shares outstanding:

Basic

114.3

117.1

115.5

117.5

Diluted

115.2

117.9

116.3

118.4

DARDEN RESTAURANTS, INC.

CONSOLIDATED BALANCE SHEETS

(In millions)

5/31/2026

5/25/2025

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalents

$         219.5

$         240.0

Receivables, net

129.9

93.8

Inventories

326.3

311.6

Prepaid income taxes

139.8

135.6

Prepaid expenses and other current assets

127.4

156.7

Total current assets

$         942.9

$         937.7

Land, buildings and equipment, net

5,048.6

4,716.0

Operating lease right-of-use assets

3,433.1

3,555.9

Goodwill

1,658.2

1,659.4

Trademarks

1,346.4

1,346.4

Other assets

433.2

371.6

Total assets

$     12,862.4

$     12,587.0

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable

$         427.7

$         439.6

Short-term debt and current portion of long-term debt

693.6

—

Accrued payroll

236.1

207.5

Accrued taxes

87.0

87.7

Unearned revenues

606.0

599.4

Other current liabilities

955.0

913.3

Total current liabilities

$      3,005.4

$      2,247.5

Long-term debt

1,637.7

2,128.9

Deferred income taxes

343.6

278.8

Operating lease liabilities - non-current

3,722.3

3,816.9

Other liabilities

1,945.9

1,803.6

Total liabilities

$     10,654.9

$     10,275.7

Stockholders' equity:

Common stock and surplus

$      2,296.3

$      2,295.6

Retained earnings (deficit)

(108.4)

(16.1)

Accumulated other comprehensive income

19.6

31.8

Total stockholders' equity

$      2,207.5

$      2,311.3

Total liabilities and stockholders' equity

$     12,862.4

$     12,587.0

DARDEN RESTAURANTS, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

Twelve Months Ended

5/31/2026

5/25/2025

Cash flows—operating activities

Net earnings

$      1,206.7

$      1,049.6

Losses from discontinued operations, net of tax

7.0

1.4

Adjustments to reconcile net earnings from continuing operations to cash flows:

Depreciation and amortization

561.1

516.1

Impairments and disposal of assets, net

(10.7)

49.2

Stock-based compensation expense

79.1

79.1

Change in current assets and liabilities and other, net

9.9

11.6

Net cash provided by operating activities of continuing operations

$      1,853.1

$      1,707.0

Cash flows—investing activities

Purchases of land, buildings and equipment

(734.0)

(644.6)

Proceeds from disposal of land, buildings and equipment

45.5

2.5

Cash used in business acquisitions, net of cash acquired

—

(613.7)

Purchases of capitalized software and changes in other assets, net

(22.9)

(22.5)

Net cash used in investing activities of continuing operations

$       (711.4)

$     (1,278.3)

Cash flows—financing activities

Net proceeds from issuance of common stock

25.0

55.6

Dividends paid

(693.0)

(658.5)

Repurchases of common stock

(671.7)

(418.2)

Proceeds from (repayments of) short-term debt, net

194.0

(86.8)

Proceeds from issuance of long-term debt, net

—

750.0

Principal payments on finance leases, net

(18.1)

(21.0)

Payments of debt issuance costs

—

(6.9)

Net cash used in financing activities of continuing operations

$     (1,163.8)

$       (385.8)

Cash flows—discontinued operations

Net cash used in operating activities of discontinued operations

(4.8)

(8.5)

Net cash used in discontinued operations

$          (4.8)

$          (8.5)

Increase (decrease) in cash, cash equivalents, and restricted cash

(26.9)

34.4

Cash, cash equivalents, and restricted cash - beginning of period

254.5

220.1

Cash, cash equivalents, and restricted cash - end of period

$         227.6

$         254.5

Reconciliation of cash, cash equivalents, and restricted cash:

5/31/2026

5/25/2025

Cash and cash equivalents

$         219.5

$         240.0

Restricted cash included in prepaid expenses and other current assets

8.1

14.5

Total cash, cash equivalents, and restricted cash shown in the statement of cash flows

$         227.6

$         254.5

SOURCE Darden Restaurants, Inc.: Financial

Darden Restaurants reported higher profit and sales in its fiscal fourth quarter, once again led by its LongHorn Steakhouse brand.

Restaurant company Darden Restaurants Inc (NYSE:DRI) looks to keep momentum going with its fourth-quarter financial results on Thursday before market open.

Here are the earnings estimates, what experts are saying ahead of the report and the key items to watch.

Darden Q4 Earnings EstimatesAnalysts expect Darden to report fourth-quarter revenue of $3.73 billion, up from $3.27 billion in last year’s fourth quarter, according to data from Benzinga Pro.

The company has beaten analyst estimates for revenue in two straight quarters, but missed estimates in six of the last 10 quarters.

Analysts expect Darden to report fourth-quarter earnings per share of $3.64, down from $2.98 in last year’s fourth quarter.

The company has beaten analyst estimates for earnings per share in five of the last 10 quarters, meeting estimates in the most recently reported third quarter.

What Experts Are SayingFreedom Capital Markets Chief Market Strategist Jay Woods says the restaurant company has a recent history of the stock rallying after earnings, with shares up after seven of the last eight quarterly results. The average gain is 5% for shares after earnings over the last eight results.

While the stock has traded higher after earnings, shares are down over the last 52 weeks.

"A key question will be – are customers still spending and willing to dine out despite inflationary pressures?" Woods said in a weekly newsletter. "Darden has become a great barometer on the middle-income consumers."

Woods said investors should watch for same-restaurant sales figures and traffic trends across the company’s brands.

The market expert said $220 is the key upside mark and if shares can break it, they could hit upside targets of $250.

"This mark has been tough to crack, look for a pullback to re-test $205 at first, and if weaker, settle in around $195 and the 200-day moving average."

Woods said there’s not a clear risk, reward setup for the stock ahead of earnings.

Here are recent analyst ratings on Darden stock and their price targets:

Guggenheim: Maintained Buy rating, raised price target from $230 to $235 Evercore ISI Group: Downgraded from Outperform to In-Line, with a price target of $230 Oppenheimer: Reiterated Outperform rating, with a price target of $235 Key Items to WatchA recent report from Placer.ai shows that Olive Garden may be outperforming the full-service restaurant industry.

The report shows visits to Olive Garden locations were up 2.4% year-over-year in the first calendar quarter, compared to a 1.3% year-over-year decline for the overall full-service restaurant sector.

Average visits to Olive Garden locations were also up 0.5% year-over-year in the first calendar quarter, compared to a 0.5% decline for the sector on a year-over-year basis.

The third-quarter financial results from Darden saw overall sales up 5.9% year-over-year with strong same-restaurant sales and strength for Olive Garden and the LongHorn Steakhouse brand.

Investors and analysts will be looking for strong figures for Olive Garden and some of the company’s other restaurant brands to shine in the quarter based on the Placer.ai report.

Darden narrowed its full-year guidance after third-quarter results.

Investors and analysts will be looking for strong guidance for the next fiscal year and an update on how many net new restaurants the various brands are forecasting for the next year.

Darden Stock Price ActionDarden stock was up 1.36% to $213.45 on Wednesday versus a 52-week trading range of $169.00 to $222.56. Darden stock is up 15.7% year-to-date in 2026.

Photo by Jonathan Weiss via Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

Darden Restaurants, Inc. (NYSE:DRI) will release earnings for its fourth quarter before the opening bell on Thursday, June 25.

Analysts expect the Orlando, Florida-based company to report quarterly earnings of $3.64 per share, up from $2.98 per share in the year-ago period. The consensus estimate for Darden’s quarterly revenue is $3.73 billion. It reported $3.27 billion last year, according to Benzinga Pro.

On March 19, the company reported third-quarter adjusted earnings per share of 2.95, beating the analyst consensus estimate of $2.94.

Shares of Darden Restaurants rose 1% to close at $213.45 on Thursday.

Benzinga readers can access the latest analyst ratings on the Analyst Stock Ratings page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.

Let’s have a look at how Benzinga’s most-accurate analysts have rated the company in the recent period.

Considering buying DRI stock? Here’s what analysts think:

Photo via Shutterstock

Market News and Data brought to you by Benzinga APIs

© 2026 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

To add Benzinga News as your preferred source on Google, click here.

Wall Street expects a year-over-year increase in earnings on higher revenues when Darden Restaurants (DRI - Free Report) reports results for the quarter ended May 2026. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on June 25. On the other hand, if they miss, the stock may move lower.

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise.

Zacks Consensus EstimateThis owner of Olive Garden and other chain restaurants is expected to post quarterly earnings of $3.63 per share in its upcoming report, which represents a year-over-year change of +21.8%.

Revenues are expected to be $3.73 billion, up 14.1% from the year-ago quarter.

Estimate Revisions TrendThe consensus EPS estimate for the quarter has been revised 0.67% higher over the last 30 days to the current level. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period.

Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts.

Price, Consensus and EPS Surprise

Earnings WhisperEstimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction).

The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier.

Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only.

A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP.

Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell).

How Have the Numbers Shaped Up for Darden Restaurants?For Darden Restaurants, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +0.27%.

On the other hand, the stock currently carries a Zacks Rank of #3.

So, this combination indicates that Darden Restaurants will most likely beat the consensus EPS estimate.

Does Earnings Surprise History Hold Any Clue?While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number.

For the last reported quarter, it was expected that Darden Restaurants would post earnings of $2.95 per share when it actually produced earnings of $2.95, delivering no surprise.

Over the last four quarters, the company has beaten consensus EPS estimates just once.

Bottom LineAn earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss.

That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.

Darden Restaurants appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

Posted by Defense World Staff on Apr 6th, 2026

Capital Management Associates Inc lifted its stake in shares of Darden Restaurants, Inc. (NYSE:DRI – Free Report) by 93.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,058 shares of the restaurant operator’s stock after buying an additional 3,413 shares during the quarter. Capital Management Associates Inc’s holdings in Darden Restaurants were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Twin Peaks Wealth Advisors LLC bought a new stake in Darden Restaurants during the 2nd quarter valued at approximately $26,000. Quent Capital LLC bought a new position in shares of Darden Restaurants in the 3rd quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Darden Restaurants by 926.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 154 shares of the restaurant operator’s stock valued at $28,000 after purchasing an additional 139 shares during the period. Ameriflex Group Inc. bought a new stake in shares of Darden Restaurants during the third quarter valued at approximately $35,000. Finally, Wealth Watch Advisors INC bought a new stake in shares of Darden Restaurants during the third quarter valued at approximately $39,000. 93.64% of the stock is owned by institutional investors.

Insider Transactions at Darden Restaurants In related news, SVP Susan M. Connelly sold 2,635 shares of the firm’s stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $207.36, for a total value of $546,393.60. Following the transaction, the senior vice president owned 4,098 shares of the company’s stock, valued at approximately $849,761.28. This trade represents a 39.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Rajesh Vennam sold 6,774 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $214.12, for a total transaction of $1,450,448.88. Following the sale, the chief financial officer owned 9,040 shares of the company’s stock, valued at $1,935,644.80. This trade represents a 42.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 18,770 shares of company stock valued at $3,948,970. Company insiders own 0.49% of the company’s stock.

Darden Restaurants Trading Up 0.0% Shares of DRI stock opened at $196.35 on Monday. The company has a current ratio of 0.39, a quick ratio of 0.26 and a debt-to-equity ratio of 1.02. Darden Restaurants, Inc. has a 12-month low of $169.00 and a 12-month high of $228.27. The stock has a market capitalization of $22.49 billion, a P/E ratio of 20.78, a P/E/G ratio of 1.86 and a beta of 0.64. The firm’s 50 day moving average is $205.51 and its 200 day moving average is $193.44.

Darden Restaurants (NYSE:DRI – Get Free Report) last released its quarterly earnings results on Thursday, March 19th. The restaurant operator reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.94 by $0.01. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Darden Restaurants had a return on equity of 53.54% and a net margin of 8.66%.The company’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.80 EPS. Research analysts expect that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.

Darden Restaurants Announces Dividend The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be given a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Friday, April 10th. Darden Restaurants’s dividend payout ratio (DPR) is presently 63.49%.

Analysts Set New Price Targets A number of equities analysts have issued reports on DRI shares. Weiss Ratings upgraded Darden Restaurants from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, January 12th. BMO Capital Markets upped their target price on shares of Darden Restaurants from $205.00 to $220.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 6th. Bank of America increased their price target on shares of Darden Restaurants from $261.00 to $262.00 and gave the stock a “buy” rating in a research note on Monday, March 16th. Citigroup lifted their price target on shares of Darden Restaurants from $235.00 to $238.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Finally, Evercore restated an “outperform” rating on shares of Darden Restaurants in a report on Friday, December 19th. Eighteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $226.24.

View Our Latest Report on Darden Restaurants

Darden Restaurants Profile (Free Report)

Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.

Darden’s restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand’s positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.

Read More Five stocks we like better than Darden Restaurants

Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINE6,966 Shares in JPMorgan International Value ETF $JIVE Acquired by Capital Advisors Wealth Management LLC

NEXT HEADLINE »Capital Advisors Wealth Management LLC Grows Stake in JPMorgan Municipal ETF $JMUB

Key Takeaways DRI trades below industry P/E despite steady performance and defensive appeal versus peers.Darden's 4.2% comps growth is driven by strong traffic, guest gains and value-focused innovation.Higher beef costs, pricing lag and brand rationalization weigh on margins and near-term outlook. Darden Restaurants, Inc. (DRI - Free Report) is trading at a valuation that may catch investors’ attention. The stock currently carries a forward 12-month price-to-earnings (P/E) ratio of 17.06, notably below the restaurant industry average of 23.77. This discount suggests that the market is taking a measured view of the company, despite its strong brand portfolio and scale.

P/E (F12M)
Image Source: Zacks Investment Research

Looking at performance, Darden’s shares have shown relative resilience. Over the past six months, the stock has gained 2.9%, slightly trailing the broader restaurant industry’s 3.1% increase. It has also lagged the S&P 500’s 3.7% rally, indicating that investors have been favoring higher-growth opportunities.

Within the peer group, performance has been mixed. Domino's Pizza, Inc. (DPZ - Free Report) and Chipotle Mexican Grill (CMG - Free Report) have seen their shares decline 13.7% and 19%, respectively, while Restaurant Brands International (QSR - Free Report) has posted a gain of 11.2%. Against this backdrop, Darden’s steadier performance highlights its defensive appeal, even as the stock remains modestly undervalued.

Price Performance
Image Source: Zacks Investment Research

Factors Supporting Darden StockDarden’s recent performance highlights strong underlying momentum, driven primarily by consistent same-restaurant sales growth and clear outperformance compared with the broader industry. The company delivered 4.2% comps, significantly ahead of industry benchmarks, with all major segments contributing positively. This strength reflects solid execution across brands, supported by improved guest satisfaction and steady traffic trends. Importantly, both increased customer frequency and new guest additions are contributing to growth, indicating that demand is broad-based rather than dependent on a single lever.

Another key tailwind is Darden’s focus on value-driven innovation and operational discipline. Initiatives like Olive Garden’s lighter portion menu and promotional offerings are resonating well with customers, driving higher visit frequency and improved value perception. At the same time, brands like LongHorn Steakhouse continue to benefit from strong positioning around quality and affordability, especially as consumers seek better value compared with grocery alternatives. These efforts, combined with effective marketing and menu optimization, are helping the company maintain traffic even in a competitive environment.

Additionally, Darden’s operational efficiency and cost management provide a strong foundation for earnings growth. Labor productivity is improving due to lower employee turnover and better retention, which reduces hiring and training costs while enhancing service quality. The company is also benefiting from scale advantages, supply-chain capabilities and disciplined capital allocation, including steady shareholder returns through dividends and buybacks. With pricing flexibility still available after years of underpricing inflation, Darden is well positioned to protect margins while continuing to invest in growth.

Factors Weighing on Darden StockOn the flip side, margin pressures remain a concern. Elevated commodity costs, particularly beef inflation, have increased food and beverage expenses, while pricing has lagged inflation for much of the year. This mismatch has weighed on restaurant-level margins, even as the company continues to invest in value offerings and marketing. Although pricing is expected to catch up, near-term profitability remains exposed to cost volatility.

Additionally, external factors and operational disruptions pose risks. Weather-related impacts temporarily affected sales and broader macro uncertainty has led management to maintain a cautious outlook. The company is also rationalizing underperforming brands, including closing and converting Bahama Breeze locations, which highlights portfolio challenges. While these actions may strengthen the business long term, they reflect near-term headwinds that could limit upside despite strong operating fundamentals.

DRI’s Growth Projection EncouragesOver the past 30 days, the Zacks Consensus Estimate for earnings per share for fiscal 2026 and 2027 has increased 3 cents to $10.61 and decreased 3 cents to $11.38, respectively. The Zacks Consensus Estimate for DRI’s fiscal 2026 and 2027 earnings per share indicates year-over-year increases of 11.1% and 7.3%, respectively. 
 

Image Source: Zacks Investment Research

The consensus estimate for revenues is pegged at $13.21 billion and $13.69 billion for fiscal 2026 and 2027, respectively, implying year-over-year improvements of 9.4% and 3.7%.

Wrapping upDarden remains a stable and well-executed business, supported by steady demand, strong brand positioning and effective cost management, making it suitable for investors to hold. The company continues to benefit from consistent traffic, value-driven offerings and operational efficiency.

However, despite its discounted valuation, near-term margin pressures from higher input costs and some macro uncertainty limit upside potential. As a result, existing investors can stay invested for steady growth and returns, while new investors may wait for a more attractive entry point.

DRI currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Choreo LLC trimmed its holdings in Darden Restaurants, Inc. (NYSE:DRI – Free Report) by 25.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,417 shares of the restaurant operator’s stock after selling 4,606 shares during the quarter. Choreo LLC’s holdings in Darden Restaurants were worth $2,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital World Investors lifted its stake in shares of Darden Restaurants by 1.6% in the 3rd quarter. Capital World Investors now owns 14,839,198 shares of the restaurant operator’s stock valued at $2,824,996,000 after purchasing an additional 236,620 shares during the period. Wellington Management Group LLP lifted its stake in shares of Darden Restaurants by 32.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,463,786 shares of the restaurant operator’s stock valued at $849,726,000 after purchasing an additional 1,102,211 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Darden Restaurants by 78.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,666,919 shares of the restaurant operator’s stock valued at $507,675,000 after purchasing an additional 1,171,890 shares during the period. Capital International Investors lifted its stake in shares of Darden Restaurants by 1.1% in the 3rd quarter. Capital International Investors now owns 1,904,022 shares of the restaurant operator’s stock valued at $362,848,000 after purchasing an additional 19,819 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of Darden Restaurants by 239.4% in the 2nd quarter. AQR Capital Management LLC now owns 722,529 shares of the restaurant operator’s stock valued at $157,490,000 after purchasing an additional 509,655 shares during the period. 93.64% of the stock is owned by institutional investors and hedge funds.

Darden Restaurants Stock Down 0.5% DRI stock opened at $191.38 on Tuesday. The stock’s 50 day simple moving average is $204.96 and its 200 day simple moving average is $193.71. Darden Restaurants, Inc. has a fifty-two week low of $169.00 and a fifty-two week high of $228.27. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.25 and a current ratio of 0.39. The company has a market cap of $21.92 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 1.82 and a beta of 0.64.

Darden Restaurants (NYSE:DRI – Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The restaurant operator reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.01. Darden Restaurants had a return on equity of 53.54% and a net margin of 8.66%.The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the business earned $2.80 EPS. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. On average, research analysts expect that Darden Restaurants, Inc. will post 9.52 earnings per share for the current fiscal year.

Darden Restaurants Announces Dividend The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Friday, April 10th. Darden Restaurants’s payout ratio is currently 63.49%.

Analyst Ratings Changes A number of research analysts have recently issued reports on DRI shares. BMO Capital Markets boosted their price objective on Darden Restaurants from $205.00 to $220.00 and gave the company a “market perform” rating in a research note on Tuesday, January 6th. Melius Research raised Darden Restaurants from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Stephens upped their price target on Darden Restaurants from $205.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 20th. Wells Fargo & Company upped their price target on Darden Restaurants from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 20th. Finally, Citigroup upped their price target on Darden Restaurants from $235.00 to $238.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Eighteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.24.

Get Our Latest Stock Report on Darden Restaurants

Insider Buying and Selling In other Darden Restaurants news, CFO Rajesh Vennam sold 6,774 shares of the business’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $214.12, for a total transaction of $1,450,448.88. Following the completion of the sale, the chief financial officer directly owned 9,040 shares of the company’s stock, valued at approximately $1,935,644.80. The trade was a 42.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John W. Wilkerson sold 2,258 shares of the business’s stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $213.00, for a total value of $480,954.00. Following the sale, the insider directly owned 17,784 shares of the company’s stock, valued at $3,787,992. This represents a 11.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 11,967 shares of company stock valued at $2,536,092. Company insiders own 0.49% of the company’s stock.

Darden Restaurants Company Profile (Free Report)

Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.

Darden’s restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand’s positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.

Featured Stories Five stocks we like better than Darden Restaurants Want to see what other hedge funds are holding DRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darden Restaurants, Inc. (NYSE:DRI – Free Report).

Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.

Posted by Defense World Staff on Apr 19th, 2026

Atlantic Edge Private Wealth Management LLC trimmed its position in Darden Restaurants, Inc. (NYSE:DRI – Free Report) by 25.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,705 shares of the restaurant operator’s stock after selling 2,931 shares during the quarter. Atlantic Edge Private Wealth Management LLC’s holdings in Darden Restaurants were worth $1,602,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DRI. JPMorgan Chase & Co. boosted its stake in Darden Restaurants by 78.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,666,919 shares of the restaurant operator’s stock worth $507,675,000 after purchasing an additional 1,171,890 shares during the period. Wellington Management Group LLP boosted its stake in Darden Restaurants by 32.8% in the 3rd quarter. Wellington Management Group LLP now owns 4,463,786 shares of the restaurant operator’s stock worth $849,726,000 after purchasing an additional 1,102,211 shares during the period. AQR Capital Management LLC boosted its stake in Darden Restaurants by 239.4% in the 2nd quarter. AQR Capital Management LLC now owns 722,529 shares of the restaurant operator’s stock worth $157,490,000 after purchasing an additional 509,655 shares during the period. Rakuten Investment Management Inc. bought a new position in Darden Restaurants in the 3rd quarter worth approximately $57,948,000. Finally, Capital World Investors boosted its stake in Darden Restaurants by 1.6% in the 3rd quarter. Capital World Investors now owns 14,839,198 shares of the restaurant operator’s stock worth $2,824,996,000 after purchasing an additional 236,620 shares during the period. 93.64% of the stock is owned by hedge funds and other institutional investors.

Darden Restaurants Stock Up 2.3% NYSE DRI opened at $201.12 on Friday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.25 and a current ratio of 0.39. The company has a market capitalization of $23.04 billion, a P/E ratio of 21.28, a P/E/G ratio of 1.86 and a beta of 0.64. Darden Restaurants, Inc. has a one year low of $169.00 and a one year high of $228.27. The stock has a 50 day moving average price of $203.93 and a 200-day moving average price of $193.93.

Darden Restaurants (NYSE:DRI – Get Free Report) last posted its earnings results on Thursday, March 19th. The restaurant operator reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.94 by $0.01. The firm had revenue of $3.35 billion during the quarter, compared to the consensus estimate of $3.33 billion. Darden Restaurants had a return on equity of 53.54% and a net margin of 8.66%.The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.80 EPS. As a group, equities analysts predict that Darden Restaurants, Inc. will post 9.52 EPS for the current fiscal year.

Darden Restaurants Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 10th will be given a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, April 10th. Darden Restaurants’s dividend payout ratio is currently 63.49%.

Analyst Upgrades and Downgrades Several research analysts have weighed in on the company. Robert W. Baird upped their price target on Darden Restaurants from $208.00 to $215.00 and gave the stock a “neutral” rating in a research note on Friday, March 20th. UBS Group restated a “buy” rating and issued a $230.00 price target on shares of Darden Restaurants in a research note on Tuesday, March 10th. Sanford C. Bernstein restated an “outperform” rating on shares of Darden Restaurants in a research note on Friday, March 13th. BTIG Research restated a “buy” rating and issued a $225.00 price target on shares of Darden Restaurants in a research note on Friday, March 20th. Finally, Barclays upped their price target on Darden Restaurants from $227.00 to $232.00 and gave the stock an “overweight” rating in a research note on Friday, March 20th. Eighteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $226.24.

Get Our Latest Research Report on DRI

Insider Activity at Darden Restaurants In other news, SVP Lindsay L. Koren sold 300 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $194.32, for a total transaction of $58,296.00. Following the completion of the transaction, the senior vice president directly owned 1,617 shares in the company, valued at approximately $314,215.44. This represents a 15.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.49% of the company’s stock.

About Darden Restaurants (Free Report)

Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.

Darden’s restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand’s positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.

Recommended Stories Five stocks we like better than Darden Restaurants Want to see what other hedge funds are holding DRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darden Restaurants, Inc. (NYSE:DRI – Free Report).

Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINEBosman Wealth Management LLC Reduces Stake in MercadoLibre, Inc. $MELI

NEXT HEADLINE »Bosman Wealth Management LLC Purchases Shares of 13,500 Bitwise Bitcoin ETF $BITB

Posted by Defense World Staff on Apr 20th, 2026

KBC Group NV lowered its stake in Darden Restaurants, Inc. (NYSE:DRI – Free Report) by 17.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 16,911 shares of the restaurant operator’s stock after selling 3,649 shares during the quarter. KBC Group NV’s holdings in Darden Restaurants were worth $3,112,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas raised its position in shares of Darden Restaurants by 98.5% during the 3rd quarter. Teacher Retirement System of Texas now owns 64,118 shares of the restaurant operator’s stock worth $12,206,000 after purchasing an additional 31,815 shares during the last quarter. AE Wealth Management LLC lifted its stake in Darden Restaurants by 164.1% in the 3rd quarter. AE Wealth Management LLC now owns 4,872 shares of the restaurant operator’s stock valued at $928,000 after buying an additional 3,027 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Darden Restaurants in the 3rd quarter worth about $2,536,000. Banco Santander S.A. purchased a new stake in Darden Restaurants during the 3rd quarter worth approximately $6,743,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Darden Restaurants by 78.4% during the third quarter. JPMorgan Chase & Co. now owns 2,666,919 shares of the restaurant operator’s stock valued at $507,675,000 after acquiring an additional 1,171,890 shares during the last quarter. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Insiders Place Their Bets In other news, SVP Lindsay L. Koren sold 300 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $194.32, for a total value of $58,296.00. Following the completion of the sale, the senior vice president owned 1,617 shares of the company’s stock, valued at $314,215.44. This represents a 15.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.49% of the stock is owned by insiders.

Analyst Ratings Changes A number of research analysts have weighed in on the company. KeyCorp raised their price objective on Darden Restaurants from $225.00 to $226.00 and gave the company an “overweight” rating in a report on Friday, March 20th. Citigroup increased their target price on shares of Darden Restaurants from $235.00 to $238.00 and gave the company a “buy” rating in a research report on Friday, March 20th. Sanford C. Bernstein reissued an “outperform” rating on shares of Darden Restaurants in a research note on Friday, March 13th. Truist Financial restated a “hold” rating and set a $207.00 price target (down from $240.00) on shares of Darden Restaurants in a research report on Thursday, January 8th. Finally, BTIG Research reaffirmed a “buy” rating and set a $225.00 price objective on shares of Darden Restaurants in a research note on Friday, March 20th. Eighteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $226.24.

Read Our Latest Analysis on Darden Restaurants

Darden Restaurants Stock Up 0.0% Shares of NYSE:DRI opened at $201.12 on Monday. Darden Restaurants, Inc. has a 52-week low of $169.00 and a 52-week high of $228.27. The stock has a market cap of $23.04 billion, a P/E ratio of 21.28, a PEG ratio of 1.91 and a beta of 0.64. The business has a fifty day moving average of $203.93 and a two-hundred day moving average of $193.94. The company has a quick ratio of 0.25, a current ratio of 0.39 and a debt-to-equity ratio of 1.02.

Darden Restaurants (NYSE:DRI – Get Free Report) last posted its quarterly earnings results on Thursday, March 19th. The restaurant operator reported $2.95 EPS for the quarter, topping the consensus estimate of $2.94 by $0.01. Darden Restaurants had a return on equity of 53.54% and a net margin of 8.66%.The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the previous year, the firm earned $2.80 EPS. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. On average, research analysts expect that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.

Darden Restaurants Dividend Announcement The company also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a $1.50 dividend. This represents a $6.00 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, April 10th. Darden Restaurants’s payout ratio is presently 63.49%.

Darden Restaurants Profile (Free Report)

Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.

Darden’s restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand’s positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.

Featured Stories Five stocks we like better than Darden Restaurants

Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINENations Financial Group Inc. IA ADV Takes $577,000 Position in BNY Mellon Global Infrastructure Income ETF $BKGI

NEXT HEADLINE »Emissary Wealth LLC Purchases New Shares in Corning Incorporated $GLW

Posted by Defense World Staff on Apr 24th, 2026

Cwm LLC raised its holdings in Darden Restaurants, Inc. (NYSE:DRI – Free Report) by 33.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,693 shares of the restaurant operator’s stock after buying an additional 3,708 shares during the quarter. Cwm LLC’s holdings in Darden Restaurants were worth $2,704,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Adelphi Trust Co acquired a new position in Darden Restaurants in the fourth quarter valued at approximately $221,000. Virginia Wealth Management Group Inc. lifted its stake in Darden Restaurants by 1.4% in the fourth quarter. Virginia Wealth Management Group Inc. now owns 26,605 shares of the restaurant operator’s stock valued at $4,896,000 after buying an additional 371 shares during the period. Farther Finance Advisors LLC lifted its stake in Darden Restaurants by 116.7% in the fourth quarter. Farther Finance Advisors LLC now owns 3,376 shares of the restaurant operator’s stock valued at $621,000 after buying an additional 1,818 shares during the period. Tectonic Advisors LLC lifted its stake in Darden Restaurants by 23.6% in the fourth quarter. Tectonic Advisors LLC now owns 8,103 shares of the restaurant operator’s stock valued at $1,491,000 after buying an additional 1,545 shares during the period. Finally, Running Oak Capital LLC lifted its stake in Darden Restaurants by 2.1% in the fourth quarter. Running Oak Capital LLC now owns 81,132 shares of the restaurant operator’s stock valued at $14,930,000 after buying an additional 1,669 shares during the period. 93.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Darden Restaurants In related news, SVP Lindsay L. Koren sold 300 shares of the company’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $194.32, for a total transaction of $58,296.00. Following the completion of the sale, the senior vice president owned 1,617 shares in the company, valued at approximately $314,215.44. This represents a 15.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Douglas J. Milanes sold 3,620 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $202.16, for a total value of $731,819.20. Following the sale, the senior vice president owned 274 shares of the company’s stock, valued at $55,391.84. This trade represents a 92.96% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.49% of the company’s stock.

Wall Street Analysts Forecast Growth Several equities analysts have issued reports on the company. Melius Research raised Darden Restaurants from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. UBS Group reissued a “buy” rating and issued a $230.00 price target on shares of Darden Restaurants in a research note on Tuesday, March 10th. Wells Fargo & Company upped their target price on Darden Restaurants from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Friday, March 20th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Darden Restaurants in a research report on Friday, March 13th. Finally, KeyCorp upped their target price on Darden Restaurants from $225.00 to $226.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Eighteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $226.24.

Check Out Our Latest Stock Report on DRI

Darden Restaurants Price Performance Shares of NYSE:DRI opened at $202.44 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.39 and a debt-to-equity ratio of 1.02. Darden Restaurants, Inc. has a twelve month low of $169.00 and a twelve month high of $228.27. The stock’s 50 day moving average is $202.86 and its 200-day moving average is $194.12. The firm has a market capitalization of $23.19 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 1.89 and a beta of 0.64.

Darden Restaurants (NYSE:DRI – Get Free Report) last issued its earnings results on Thursday, March 19th. The restaurant operator reported $2.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.94 by $0.01. Darden Restaurants had a return on equity of 53.54% and a net margin of 8.66%.The company had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the firm earned $2.80 earnings per share. Darden Restaurants’s revenue for the quarter was up 5.9% on a year-over-year basis. Sell-side analysts forecast that Darden Restaurants, Inc. will post 10.61 EPS for the current fiscal year.

Darden Restaurants Announces Dividend The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, April 10th. This represents a $6.00 annualized dividend and a yield of 3.0%. Darden Restaurants’s dividend payout ratio is 63.49%.

About Darden Restaurants (Free Report)

Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.

Darden’s restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand’s positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.

Featured Stories Five stocks we like better than Darden Restaurants

Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINECoupang, Inc. $CPNG Shares Sold by Cwm LLC

NEXT HEADLINE »Cwm LLC Acquires 13,971 Shares of SiteOne Landscape Supply, Inc. $SITE

Posted by Defense World Staff on Apr 29th, 2026

Concurrent Investment Advisors LLC raised its holdings in Darden Restaurants, Inc. (NYSE:DRI – Free Report) by 313.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,598 shares of the restaurant operator’s stock after buying an additional 10,313 shares during the period. Concurrent Investment Advisors LLC’s holdings in Darden Restaurants were worth $2,502,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. NBC Securities Inc. increased its stake in shares of Darden Restaurants by 5.2% during the fourth quarter. NBC Securities Inc. now owns 3,895 shares of the restaurant operator’s stock worth $717,000 after purchasing an additional 192 shares during the period. AGP Franklin LLC increased its stake in shares of Darden Restaurants by 0.5% during the fourth quarter. AGP Franklin LLC now owns 13,137 shares of the restaurant operator’s stock worth $2,418,000 after purchasing an additional 62 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Darden Restaurants by 0.3% during the fourth quarter. Geneos Wealth Management Inc. now owns 45,944 shares of the restaurant operator’s stock worth $8,455,000 after purchasing an additional 127 shares during the period. Kingswood Wealth Advisors LLC increased its stake in shares of Darden Restaurants by 437.9% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 8,262 shares of the restaurant operator’s stock worth $1,520,000 after purchasing an additional 6,726 shares during the period. Finally, Caliber Wealth Management LLC KS increased its stake in shares of Darden Restaurants by 16.3% during the fourth quarter. Caliber Wealth Management LLC KS now owns 17,887 shares of the restaurant operator’s stock worth $3,292,000 after purchasing an additional 2,512 shares during the period. Institutional investors own 93.64% of the company’s stock.

Analysts Set New Price Targets DRI has been the topic of a number of recent research reports. BTIG Research reiterated a “buy” rating and set a $225.00 target price on shares of Darden Restaurants in a research note on Friday, March 20th. Wells Fargo & Company increased their target price on Darden Restaurants from $200.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Friday, March 20th. BMO Capital Markets increased their price target on Darden Restaurants from $205.00 to $220.00 and gave the stock a “market perform” rating in a research report on Tuesday, January 6th. KeyCorp increased their price target on Darden Restaurants from $225.00 to $226.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Finally, Weiss Ratings raised Darden Restaurants from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday. Eighteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $226.24.

View Our Latest Analysis on Darden Restaurants

Insiders Place Their Bets In other Darden Restaurants news, SVP Douglas J. Milanes sold 3,620 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $202.16, for a total value of $731,819.20. Following the sale, the senior vice president owned 274 shares of the company’s stock, valued at approximately $55,391.84. This trade represents a 92.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Lindsay L. Koren sold 300 shares of the firm’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $194.32, for a total value of $58,296.00. Following the completion of the sale, the senior vice president directly owned 1,617 shares in the company, valued at approximately $314,215.44. This represents a 15.65% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.49% of the company’s stock.

Darden Restaurants Trading Down 1.1% Shares of NYSE:DRI opened at $196.54 on Wednesday. The company has a market capitalization of $22.51 billion, a P/E ratio of 20.80, a P/E/G ratio of 1.88 and a beta of 0.64. Darden Restaurants, Inc. has a 1 year low of $169.00 and a 1 year high of $228.27. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.39 and a quick ratio of 0.25. The business’s 50 day simple moving average is $201.97 and its 200 day simple moving average is $194.43.

Darden Restaurants (NYSE:DRI – Get Free Report) last issued its quarterly earnings results on Thursday, March 19th. The restaurant operator reported $2.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.94 by $0.01. The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.33 billion. Darden Restaurants had a return on equity of 53.54% and a net margin of 8.66%.The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.80 earnings per share. On average, research analysts anticipate that Darden Restaurants, Inc. will post 10.61 EPS for the current fiscal year.

Darden Restaurants Dividend Announcement The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 10th will be issued a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, April 10th. Darden Restaurants’s dividend payout ratio (DPR) is currently 63.49%.

Darden Restaurants Company Profile (Free Report)

Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.

Darden’s restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand’s positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.

Read More Five stocks we like better than Darden Restaurants

Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.

« PREVIOUS HEADLINEConcurrent Investment Advisors LLC Increases Stock Position in Rocket Lab Corporation $RKLB

NEXT HEADLINE »Concurrent Investment Advisors LLC Boosts Holdings in The PNC Financial Services Group, Inc $PNC

, /PRNewswire/ -- Darden Restaurants, Inc. (NYSE: DRI) plans to release its fiscal 2026 fourth quarter and full year financial results before the market opens on Thursday, June 25, 2026. The Company will host a conference call, led by Rick Cardenas, President and Chief Executive Officer, and Raj Vennam, Chief Financial Officer, to review results and conduct a question–and–answer session on Thursday, June 25, 2026, at 8:30 a.m. ET.

The conference call will be webcast and can be accessed through the Company's Investor Relations website at investor.darden.com. Supplementary materials will be available on the website prior to the start of the conference call. A replay of the webcast will be available on the Company's Investor Relations website shortly after the conclusion of the call.

About Darden
Darden is a restaurant company featuring a portfolio of differentiated brands that include Olive Garden, LongHorn Steakhouse, Yard House, Ruth's Chris Steak House, Cheddar's Scratch Kitchen, The Capital Grille, Chuy's, Seasons 52, and Eddie V's. For more information, please visit www.darden.com.

Contacts:
Investor Relations: Courtney Aquilla (407) 245-5054
Media: Rich Jeffers (407) 245-4189

SOURCE Darden Restaurants, Inc.: Financial

Repeat dosing of DeltEx TM Drug Resistant Immunotherapy (DRI) had a median progression-free survival (mPFS) of 13.0 months and median overall survival (mOS) exceeding 19.5 months (not yet reached). Results demonstrate the potential for meaningful improvement in outcomes with gamma-delta T cell therapy in combination with the standard-of-care that has remained unchanged for over 20 years.

Business Finance, accounting, contract, advisor investment consulting marketing plan for the company with using tablet and computer technology in analysis.

getty

The stock market is roaring, and according to the media, it’s all because of AI.

But is that really true?

Because if it is, there must be other corners of the market, beyond tech, that are being overlooked. And that’s where we contrarians want to go hunting for high, steady (and cheap!) dividends.

Let’s break this question down, starting from a 50,000-foot view, then zeroing in on an ignored 8.1%-yielding fund with strong upside as investors come to realize its true value.

Sector Performance 2026

State Street Investment Management

This table is a great starting point—a kind of roadmap to where the cheapest stocks in the S&P 500 might be hiding out.

It’s simply a table of ETFs for every S&P 500 sector, and it shows us that, yes, tech is a big factor behind this year’s 10% gain (as of this writing) in the overall index.

Since the start of the year, tech has gained an eye-watering 29.4% as of this writing, pretty well all on AI strength.

But that’s not the only reason for the market’s gain. Energy, for example, edges it out, up 28.6% on the oil shortfall caused by the Iran conflict. Materials, industrials and even real estate have also beaten the market’s return. (We talked about the opportunity taking shape in real estate investment trusts in last Thursday’s article.)

MORE FOR YOU

What I really want to draw your attention to in the chart above is the flat performance of consumer-discretionary stocks.

On its face, you can understand why this is the case: Inflation is high. Hiring is sluggish. Wage growth is waning (to the point it slipped behind the CPI in April). Consumer sentiment? In the tank.

And yet, there’s plenty of evidence that consumers, while grumpy, are still spending. Consider home renos, which, according to the chart below from Apollo Global Management, have surged to account for a quarter of all private-construction spending.

Residential Renovations Increase

Apollo

Today’s level even tops the pandemic reno boom, when we were all building home offices and redecorating, thinking we may never go outside again!

It also clearly shows the strength of the American consumer. Compare it to the surge in 2010, for example. Back then, interest rates on home-refinance loans were low. Today, they’re high. Inflation was 2% then. It’s 3% now—after only gradually moving down from its sickening 9% peak in 2022.

But none of that has put off consumers from spending on one of the biggest-ticket items there is for most people. This, in other words, is a textbook contrarian opportunity: a powerful force (consumer spending, in this case) mainstream investors are downplaying.

Here’s how we’re going to go after it.

Forget ETFs—This 8.1%-Paying CEF Is the Best Play on Resilient ConsumersThe first place most people would look in a case like this is an ETF like the State Street Consumer Discretionary Select Sector SPDR ETF (XLY). But we’re dividend investors, and XLY’s sad 0XLY.75% yield just won’t cut it for us.

Instead, we’re looking to this 8.1%-yielding closed-end fund (CEF) called the Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV). As we’ll see, it’s nicely positioned to profit from the strong US consumer, including one holding that’s tied directly into the home-reno boom.

Let’s start with the fund’s performance:

ETV Outperforms

Ycharts

As you can see in purple above, ETV has beaten XLY—the consumer-discretionary ETF, in orange—on a total NAV return basis over the last five years.

(By “total NAV return” I mean the performance of the fund’s portfolio, including dividends collected, as opposed to its market price. The difference between the two creates the big discount ETV currently sports, which we’ll talk about shortly.)

And while the fund’s 150 holdings are weighted toward tech, at 39% of the portfolio, that’s a bit deceiving because its top tech holdings are mainly consumer-focused, including Apple (AAPL), Amazon.com (AMZN) and Tesla (TSLA).

And there are plenty of other consumer favorites further down ETV’s holdings list, including Chipotle Mexican Grill (CMG), Best Buy (BBY), Carvana (CVNA), Hershey (HSY), Nike (NKE), Darden Restaurants (DRI), Yum! Brands (YUM), Marriott International (MAR) and Home Depot (HD).

All of these companies are benefiting from Americans’ continued strong spending, with Home Depot directly profiting from surging home renos. That, in turn, is supporting ETV’s 8.1% dividend, which rolls out monthly.

That income also comes from the fund’s covered-call strategy, which provides some downside protection while bringing in cash, since it collects fees on all the options it sells, regardless of how the underlying trades turn out.

One would think a dividend as high as this one, backed by an undervalued basket of blue chips and a proven covered-call strategy, would be high on investors’ buy lists.

Instead, ETV’s 8% discount to NAV is at one of the widest levels I’ve seen in years. That markdown has also bottomed out recently, suggesting investors are finally starting to take notice of this smartly run CEF.

ETV Discount

Ycharts

With this momentum, ETV will likely get more bids, boosting its market price and shrinking the discount further. In fact, that’s already starting to happen, as ETV’s total return (based on market price this time) has outrun XLY this year.

ETV Rebounds Quicker

Ycharts

Before we wrap, let’s shift back to the dividend: To most investors, ETV’s 8.1% payout seems high, but it’s actually lower than the 8.8% average for all CEFs tracked by my CEF Insider service. So there’s nothing particularly unusual here.

ETV had a stable dividend for years until the 2022 crash, which forced management to reduce it. But another cut is unlikely given the economy’s strength. But even if that were to happen, it would likely only reduce ETV’s 8% yield to something like 7.2%. That’s still a monster payout.

With its high income and still-wide discount, ETV is clearly a better way to profit from America’s underappreciated consumer spending than XLY. And it’s just one of many CEFs that crushes index funds—whether you measure by dividend yield, past performance or both.

Michael Foster is the Lead Research Analyst for Contrarian Outlook. For more great retirement income ideas, click here for our latest report “Indestructible Income: 5 Bargain Funds with Steady 10% Dividends.”