SG Americas Securities LLC decreased its position in Darden Restaurants, Inc. (NYSE:DRI) by 40.6% during the third quarter, HoldingsChannel.com reports. The fund owned 60,100 shares of the restaurant operator’s stock after selling 41,001 shares during the quarter. SG Americas Securities LLC’s holdings in Darden Restaurants were worth $7,105,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in DRI. BlackRock Inc. increased its stake in Darden Restaurants by 23.3% in the 2nd quarter. BlackRock Inc. now owns 13,792,587 shares of the restaurant operator’s stock worth $1,678,972,000 after acquiring an additional 2,605,688 shares during the last quarter. Vanguard Group Inc. increased its stake in Darden Restaurants by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 14,961,350 shares of the restaurant operator’s stock worth $1,821,245,000 after acquiring an additional 559,649 shares during the last quarter. Nuveen Asset Management LLC increased its stake in Darden Restaurants by 2,824.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 546,791 shares of the restaurant operator’s stock worth $66,561,000 after acquiring an additional 528,093 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in Darden Restaurants by 1,273.3% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 319,230 shares of the restaurant operator’s stock worth $38,850,000 after acquiring an additional 295,985 shares during the last quarter. Finally, APG Asset Management N.V. increased its stake in Darden Restaurants by 98.5% in the 2nd quarter. APG Asset Management N.V. now owns 504,312 shares of the restaurant operator’s stock worth $53,908,000 after acquiring an additional 250,200 shares during the last quarter. 90.97% of the stock is currently owned by institutional investors and hedge funds.
In other Darden Restaurants news, Director Nana Mensah sold 1,103 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $112.00, for a total value of $123,536.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Douglas J. Milanes sold 1,600 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $119.05, for a total value of $190,480.00. Following the completion of the sale, the senior vice president now owns 6,793 shares of the company’s stock, valued at $808,706.65. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.
A number of analysts have issued reports on the company. KeyCorp assumed coverage on Darden Restaurants in a research note on Tuesday, July 23rd. They issued an “overweight” rating and a $140.00 price objective on the stock. DZ Bank reaffirmed a “neutral” rating on shares of Darden Restaurants in a research note on Friday, October 25th. Independent Research reaffirmed a “buy” rating on shares of Darden Restaurants in a research note on Monday, October 28th. Maxim Group set a $126.00 price objective on Darden Restaurants and gave the stock a “hold” rating in a research note on Friday, September 13th. Finally, Barclays reduced their price objective on Darden Restaurants from $130.00 to $126.00 and set an “overweight” rating on the stock in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Darden Restaurants presently has a consensus rating of “Hold” and an average price target of $124.49.
DRI traded up $1.43 during trading hours on Friday, reaching $114.91. 867,932 shares of the company’s stock traded hands, compared to its average volume of 1,289,022. The firm has a 50-day moving average price of $113.76 and a 200 day moving average price of $119.36. Darden Restaurants, Inc. has a 52-week low of $95.83 and a 52-week high of $128.41. The company has a quick ratio of 0.30, a current ratio of 0.43 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $13.83 billion, a PE ratio of 19.74, a PEG ratio of 1.99 and a beta of 0.35.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $1.38 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.02. Darden Restaurants had a return on equity of 31.37% and a net margin of 8.36%. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business earned $1.34 EPS. Darden Restaurants’s revenue was up 3.5% compared to the same quarter last year. Equities analysts predict that Darden Restaurants, Inc. will post 6.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend was Wednesday, October 9th. Darden Restaurants’s payout ratio is currently 60.48%.
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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