Darden Restaurants, Inc. (NYSE:DRI) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC cut its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 76.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,223 shares of the restaurant operator’s stock after selling 10,233 shares during the period. Cresset Asset Management LLC’s holdings in Darden Restaurants were worth $602,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Crestline Management LP acquired a new stake in Darden Restaurants during the fourth quarter valued at approximately $682,000. Cetera Investment Advisers lifted its stake in Darden Restaurants by 75.3% during the fourth quarter. Cetera Investment Advisers now owns 44,652 shares of the restaurant operator’s stock valued at $8,336,000 after purchasing an additional 19,187 shares during the last quarter. BOKF NA lifted its stake in Darden Restaurants by 0.8% during the fourth quarter. BOKF NA now owns 15,103 shares of the restaurant operator’s stock valued at $2,719,000 after purchasing an additional 124 shares during the last quarter. Bridgefront Capital LLC purchased a new stake in shares of Darden Restaurants in the 4th quarter valued at approximately $592,000. Finally, Cary Street Partners Financial LLC purchased a new stake in shares of Darden Restaurants in the 4th quarter valued at approximately $370,000. 93.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP John W. Madonna sold 1,806 shares of Darden Restaurants stock in a transaction on Monday, March 24th. The shares were sold at an average price of $207.88, for a total value of $375,431.28. Following the transaction, the senior vice president now owns 7,192 shares in the company, valued at $1,495,072.96. This trade represents a 20.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Laura B. Williamson sold 2,289 shares of the business’s stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $207.26, for a total transaction of $474,418.14. Following the transaction, the insider now owns 10,056 shares in the company, valued at approximately $2,084,206.56. The trade was a 18.54% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,613 shares of company stock worth $5,121,492 in the last quarter. 0.58% of the stock is currently owned by company insiders.

Darden Restaurants Stock Up 0.6%

DRI stock opened at $205.00 on Wednesday. The company has a current ratio of 0.37, a quick ratio of 0.23 and a debt-to-equity ratio of 1.02. Darden Restaurants, Inc. has a 1 year low of $135.87 and a 1 year high of $211.00. The company has a fifty day simple moving average of $198.14 and a 200 day simple moving average of $186.95. The firm has a market cap of $23.99 billion, a PE ratio of 23.48, a PEG ratio of 2.15 and a beta of 0.74.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Thursday, March 20th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.80. The business had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.22 billion. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. Darden Restaurants’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.60 EPS. Sell-side analysts anticipate 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 was paid on Thursday, May 1st. Investors of record on Thursday, April 10th were issued a $1.40 dividend. The ex-dividend date was Thursday, April 10th. This represents a $5.60 annualized dividend and a yield of 2.73%. Darden Restaurants’s dividend payout ratio (DPR) is presently 63.13%.

Analysts Set New Price Targets

Several equities research analysts recently commented on DRI shares. Morgan Stanley upped their price target on shares of Darden Restaurants from $209.00 to $217.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. Wedbush upped their price target on shares of Darden Restaurants from $220.00 to $235.00 and gave the company an “outperform” rating in a research report on Friday, March 21st. Barclays upped their price target on shares of Darden Restaurants from $230.00 to $235.00 and gave the company an “overweight” rating in a research report on Friday, March 21st. UBS Group upped their price target on shares of Darden Restaurants from $210.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Finally, TD Securities upped their price target on shares of Darden Restaurants from $180.00 to $190.00 and gave the company a “hold” rating in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Darden Restaurants currently has an average rating of “Moderate Buy” and a consensus price target of $201.38.

Darden Restaurants Profile

Darden Restaurants, Inc, together with its subsidiaries, owns and operates full-service restaurants in the United States and Canada. It operates under Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V’s Prime Seafood, and Capital Burger brand names.