Atria Investments LLC increased its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 2.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,561 shares of the restaurant operator’s stock after buying an additional 473 shares during the quarter. Atria Investments LLC’s holdings in Darden Restaurants were worth $2,064,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of DRI. Trilogy Capital Inc. bought a new position in shares of Darden Restaurants during the first quarter worth about $140,000. Moneta Group Investment Advisors LLC grew its stake in Darden Restaurants by 92.9% in the second quarter. Moneta Group Investment Advisors LLC now owns 1,640 shares of the restaurant operator’s stock valued at $176,000 after purchasing an additional 790 shares in the last quarter. TLP Group LLC grew its stake in Darden Restaurants by 761.3% in the first quarter. TLP Group LLC now owns 2,093 shares of the restaurant operator’s stock valued at $178,000 after purchasing an additional 1,850 shares in the last quarter. Ostrum Asset Management bought a new position in Darden Restaurants in the first quarter valued at approximately $180,000. Finally, Doyle Wealth Management bought a new position in Darden Restaurants in the second quarter valued at approximately $202,000. Institutional investors and hedge funds own 89.50% of the company’s stock.
A number of research firms have weighed in on DRI. Mizuho raised their price target on Darden Restaurants to $115.00 and gave the company a “buy” rating in a research note on Friday, June 22nd. Jefferies Financial Group raised their price target on Darden Restaurants from $90.00 to $100.00 and gave the company a “hold” rating in a research note on Friday, June 22nd. Stephens raised their price target on Darden Restaurants from $105.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, June 22nd. SunTrust Banks raised their price target on Darden Restaurants to $117.00 and gave the company a “buy” rating in a research note on Friday, June 22nd. Finally, Stifel Nicolaus raised their price target on Darden Restaurants to $115.00 and gave the company a “buy” rating in a research note on Thursday, June 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $119.65.
Shares of NYSE DRI opened at $106.76 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 0.41. Darden Restaurants, Inc. has a 12 month low of $78.83 and a 12 month high of $124.00. The company has a market cap of $13.74 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.11 and a beta of 0.17.
Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, September 20th. The restaurant operator reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.10. Darden Restaurants had a return on equity of 30.32% and a net margin of 7.84%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same period in the previous year, the company posted $0.99 EPS. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, research analysts expect that Darden Restaurants, Inc. will post 5.63 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be paid a dividend of $0.75 per share. The ex-dividend date is Tuesday, October 9th. This represents a $3.00 annualized dividend and a dividend yield of 2.81%. Darden Restaurants’s dividend payout ratio is currently 26.20%.
In related news, SVP Douglas J. Milanes sold 2,186 shares of Darden Restaurants stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $111.06, for a total transaction of $242,777.16. Following the completion of the sale, the senior vice president now directly owns 792 shares of the company’s stock, valued at approximately $87,959.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO David C. George sold 55,671 shares of Darden Restaurants stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $108.24, for a total value of $6,025,829.04. Following the sale, the chief operating officer now directly owns 95,236 shares of the company’s stock, valued at $10,308,344.64. The disclosure for this sale can be found here. Insiders have sold a total of 118,545 shares of company stock valued at $13,103,896 over the last quarter. 0.65% of the stock is currently owned by corporate insiders.
Darden Restaurants Profile
Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 27, 2018, it owned and operated approximately 1,746 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Bahama Breeze, Seasons 52, and Eddie V's brands.
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