Darden Restaurants, Inc. (NYSE:DRI) Shares Sold by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board decreased its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 53.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,427 shares of the restaurant operator’s stock after selling 16,292 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Darden Restaurants were worth $786,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Foundry Partners LLC acquired a new position in shares of Darden Restaurants during the 1st quarter valued at $4,966,000. Swiss National Bank lifted its holdings in shares of Darden Restaurants by 19.4% during the 1st quarter. Swiss National Bank now owns 745,039 shares of the restaurant operator’s stock valued at $40,575,000 after acquiring an additional 120,800 shares in the last quarter. BRYN MAWR TRUST Co lifted its holdings in shares of Darden Restaurants by 0.4% during the 1st quarter. BRYN MAWR TRUST Co now owns 112,743 shares of the restaurant operator’s stock valued at $6,140,000 after acquiring an additional 490 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Darden Restaurants by 329.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 33,727 shares of the restaurant operator’s stock valued at $1,837,000 after acquiring an additional 25,868 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Darden Restaurants by 133.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 23,023 shares of the restaurant operator’s stock valued at $1,254,000 after acquiring an additional 13,146 shares in the last quarter. Institutional investors and hedge funds own 84.31% of the company’s stock.

Several equities research analysts recently issued reports on DRI shares. JPMorgan Chase & Co. dropped their price target on shares of Darden Restaurants from $120.00 to $51.00 and set a “neutral” rating on the stock in a research note on Monday, April 6th. KeyCorp lifted their price target on shares of Darden Restaurants from $75.00 to $88.00 and gave the stock an “overweight” rating in a research note on Thursday. SunTrust Banks lifted their price target on shares of Darden Restaurants from $70.00 to $85.00 and gave the stock a “buy” rating in a research note on Wednesday, April 22nd. Goldman Sachs Group raised shares of Darden Restaurants from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $114.00 to $50.00 in a research note on Friday, March 20th. Finally, Stifel Nicolaus boosted their target price on shares of Darden Restaurants from $75.00 to $87.00 and gave the stock a “buy” rating in a research report on Wednesday. Sixteen investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $89.23.

In related news, CFO Ricardo Cardenas purchased 2,991 shares of Darden Restaurants stock in a transaction dated Thursday, April 23rd. The stock was bought at an average cost of $58.50 per share, with a total value of $174,973.50. Following the purchase, the chief financial officer now owns 22,432 shares in the company, valued at approximately $1,312,272. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, insider Todd Burrowes purchased 2,564 shares of Darden Restaurants stock in a transaction dated Thursday, April 23rd. The stock was bought at an average cost of $58.50 per share, with a total value of $149,994.00. Following the completion of the purchase, the insider now owns 25,216 shares in the company, valued at approximately $1,475,136. The disclosure for this purchase can be found here. Insiders have acquired a total of 37,178 shares of company stock valued at $2,174,913 over the last three months. 0.47% of the stock is currently owned by company insiders.

Darden Restaurants stock opened at $75.63 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.41 and a debt-to-equity ratio of 2.24. The firm has a 50-day moving average price of $65.65 and a two-hundred day moving average price of $95.06. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 3.03 and a beta of 1.32. Darden Restaurants, Inc. has a 52-week low of $26.15 and a 52-week high of $128.41.

Darden Restaurants (NYSE:DRI) last posted its earnings results on Thursday, March 19th. The restaurant operator reported $1.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. Darden Restaurants had a net margin of 7.25% and a return on equity of 32.51%. Darden Restaurants’s revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.80 EPS. Research analysts expect that Darden Restaurants, Inc. will post 2.55 earnings per share for the current year.

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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Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

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