Darden Restaurants, Inc. (NYSE:DRI) Shares Sold by Strs Ohio

Strs Ohio lowered its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 4.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 24,485 shares of the restaurant operator’s stock after selling 1,010 shares during the quarter. Strs Ohio’s holdings in Darden Restaurants were worth $2,980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in DRI. American Century Companies Inc. raised its stake in Darden Restaurants by 17.8% during the first quarter. American Century Companies Inc. now owns 1,589,442 shares of the restaurant operator’s stock valued at $193,070,000 after buying an additional 240,234 shares in the last quarter. Nordea Investment Management AB raised its stake in Darden Restaurants by 54.8% during the first quarter. Nordea Investment Management AB now owns 622,263 shares of the restaurant operator’s stock valued at $75,586,000 after buying an additional 220,327 shares in the last quarter. Geode Capital Management LLC raised its stake in Darden Restaurants by 11.6% during the fourth quarter. Geode Capital Management LLC now owns 1,825,671 shares of the restaurant operator’s stock valued at $182,031,000 after buying an additional 189,466 shares in the last quarter. Inverness Counsel LLC NY raised its stake in Darden Restaurants by 138.0% during the first quarter. Inverness Counsel LLC NY now owns 307,220 shares of the restaurant operator’s stock valued at $37,318,000 after buying an additional 178,150 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Darden Restaurants by 64.1% during the first quarter. Lazard Asset Management LLC now owns 421,896 shares of the restaurant operator’s stock valued at $51,246,000 after buying an additional 164,729 shares in the last quarter. Hedge funds and other institutional investors own 88.61% of the company’s stock.

DRI stock traded up $0.38 on Friday, reaching $122.43. The company’s stock had a trading volume of 1,484,083 shares, compared to its average volume of 1,014,175. Darden Restaurants, Inc. has a 52 week low of $95.83 and a 52 week high of $126.75. The company has a market capitalization of $15.02 billion, a P/E ratio of 21.04, a P/E/G ratio of 1.89 and a beta of 0.32. The business has a fifty day simple moving average of $122.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.61 and a quick ratio of 0.46.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, June 20th. The restaurant operator reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.03. Darden Restaurants had a return on equity of 31.61% and a net margin of 8.38%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the company posted $1.39 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. Research analysts anticipate that Darden Restaurants, Inc. will post 6.39 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.88%. This is a positive change from Darden Restaurants’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, July 9th. Darden Restaurants’s dividend payout ratio is 60.48%.

Several brokerages have issued reports on DRI. ValuEngine cut Darden Restaurants from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Citigroup dropped their price target on Darden Restaurants from $146.00 to $144.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. KeyCorp assumed coverage on Darden Restaurants in a research report on Tuesday, July 23rd. They set an “overweight” rating and a $140.00 price target on the stock. Wedbush dropped their price target on Darden Restaurants from $130.00 to $125.00 and set a “neutral” rating on the stock in a research report on Friday, June 21st. Finally, Maxim Group cut Darden Restaurants from a “buy” rating to a “hold” rating and set a $126.00 price target on the stock. in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $131.19.

In related news, SVP John W. Madonna sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $124.12, for a total value of $124,120.00. Following the completion of the transaction, the senior vice president now directly owns 8,726 shares of the company’s stock, valued at approximately $1,083,071.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ricardo Cardenas sold 14,128 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $124.87, for a total value of $1,764,163.36. Following the transaction, the chief financial officer now directly owns 23,848 shares of the company’s stock, valued at $2,977,899.76. The disclosure for this sale can be found here. Insiders sold a total of 96,907 shares of company stock valued at $11,975,585 over the last three months. Corporate insiders own 0.65% of the company’s stock.

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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