Impact Partnership Wealth LLC lowered its stake in Darden Restaurants, Inc. (NYSE:DRI – Free Report) by 1.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 3,987 shares of the restaurant operator’s stock after selling 61 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Darden Restaurants were worth $744,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board raised its position in shares of Darden Restaurants by 27.9% during the 2nd quarter. Canada Pension Plan Investment Board now owns 28,655 shares of the restaurant operator’s stock worth $4,336,000 after purchasing an additional 6,258 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Darden Restaurants by 10.0% in the second quarter. ProShare Advisors LLC now owns 17,797 shares of the restaurant operator’s stock valued at $2,693,000 after acquiring an additional 1,622 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Darden Restaurants by 1.5% in the second quarter. 1832 Asset Management L.P. now owns 11,767 shares of the restaurant operator’s stock worth $1,781,000 after acquiring an additional 171 shares during the last quarter. Public Sector Pension Investment Board increased its position in shares of Darden Restaurants by 63.4% during the second quarter. Public Sector Pension Investment Board now owns 4,600 shares of the restaurant operator’s stock worth $696,000 after purchasing an additional 1,784 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Darden Restaurants by 19.9% during the second quarter. Bank of Montreal Can now owns 129,424 shares of the restaurant operator’s stock worth $19,828,000 after purchasing an additional 21,465 shares in the last quarter. Hedge funds and other institutional investors own 93.64% of the company’s stock.
Wall Street Analyst Weigh In
DRI has been the topic of a number of research reports. Morgan Stanley raised their target price on shares of Darden Restaurants from $193.00 to $209.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. The Goldman Sachs Group began coverage on shares of Darden Restaurants in a research report on Thursday, December 5th. They set a “neutral” rating and a $183.00 price target for the company. Oppenheimer upped their price objective on shares of Darden Restaurants from $200.00 to $218.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Citigroup dropped their target price on shares of Darden Restaurants from $209.00 to $206.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Finally, KeyCorp upped their price target on Darden Restaurants from $194.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $190.52.
Darden Restaurants Trading Up 0.3 %
NYSE DRI opened at $186.22 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.37 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $21.82 billion, a P/E ratio of 21.33, a P/E/G ratio of 2.05 and a beta of 1.31. Darden Restaurants, Inc. has a 52-week low of $135.87 and a 52-week high of $189.18. The firm has a 50-day moving average price of $177.03 and a 200 day moving average price of $163.06.
Darden Restaurants (NYSE:DRI – Get Free Report) last posted its quarterly earnings results on Thursday, December 19th. The restaurant operator reported $2.03 EPS for the quarter, meeting the consensus estimate of $2.03. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm earned $1.84 EPS. Equities research analysts expect that Darden Restaurants, Inc. will post 9.52 EPS for the current year.
Darden Restaurants Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Friday, January 10th. Darden Restaurants’s payout ratio is currently 64.15%.
Insider Buying and Selling at Darden Restaurants
In related news, CFO Rajesh Vennam sold 7,228 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $181.71, for a total transaction of $1,313,399.88. Following the sale, the chief financial officer now owns 10,262 shares in the company, valued at approximately $1,864,708.02. This trade represents a 41.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matthew R. Broad sold 12,759 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $187.37, for a total transaction of $2,390,653.83. Following the sale, the senior vice president now directly owns 14,328 shares of the company’s stock, valued at $2,684,637.36. This represents a 47.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,034 shares of company stock valued at $8,303,692 over the last quarter. Corporate insiders own 0.58% of the company’s stock.
About Darden Restaurants
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.
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