Calamos Advisors LLC raised its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 9.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 56,050 shares of the restaurant operator’s stock after purchasing an additional 4,785 shares during the quarter. Calamos Advisors LLC’s holdings in Darden Restaurants were worth $6,626,000 as of its most recent filing with the SEC.
Several other large investors also recently bought and sold shares of DRI. Private Trust Co. NA increased its position in Darden Restaurants by 120.6% during the 2nd quarter. Private Trust Co. NA now owns 7,950 shares of the restaurant operator’s stock worth $967,000 after purchasing an additional 4,346 shares during the period. Dorsey Wright & Associates increased its position in Darden Restaurants by 9.3% during the 2nd quarter. Dorsey Wright & Associates now owns 2,858 shares of the restaurant operator’s stock worth $348,000 after purchasing an additional 243 shares during the period. Fulton Bank N.A. increased its position in Darden Restaurants by 10.1% during the 2nd quarter. Fulton Bank N.A. now owns 9,494 shares of the restaurant operator’s stock worth $1,155,000 after purchasing an additional 870 shares during the period. DNB Asset Management AS increased its position in Darden Restaurants by 30.1% during the 2nd quarter. DNB Asset Management AS now owns 56,816 shares of the restaurant operator’s stock worth $6,916,000 after purchasing an additional 13,158 shares during the period. Finally, WINTON GROUP Ltd increased its position in Darden Restaurants by 28.7% during the 2nd quarter. WINTON GROUP Ltd now owns 16,083 shares of the restaurant operator’s stock worth $1,958,000 after purchasing an additional 3,582 shares during the period. Institutional investors own 91.53% of the company’s stock.
In related news, SVP Douglas J. Milanes sold 1,600 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 6,793 shares of the company’s stock, valued at approximately $808,706.65. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP John W. Madonna sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $124.12, for a total value of $124,120.00. Following the completion of the sale, the senior vice president now directly owns 8,726 shares in the company, valued at approximately $1,083,071.12. The disclosure for this sale can be found here. 0.47% of the stock is owned by insiders.
Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $1.38 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.36 by $0.02. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. Darden Restaurants had a return on equity of 31.37% and a net margin of 8.36%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.34 EPS. On average, equities analysts anticipate that Darden Restaurants, Inc. will post 6.38 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Wednesday, October 9th. Darden Restaurants’s dividend payout ratio (DPR) is 60.48%.
DRI has been the topic of several recent analyst reports. Stephens cut Darden Restaurants from an “overweight” rating to an “equal weight” rating and set a $121.75 target price on the stock. in a research report on Friday, June 28th. Citigroup dropped their target price on Darden Restaurants from $144.00 to $138.00 and set a “buy” rating on the stock in a research report on Tuesday, September 24th. ValuEngine cut Darden Restaurants from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Credit Suisse Group reiterated a “sell” rating on shares of Darden Restaurants in a research report on Thursday, October 17th. Finally, Maxim Group set a $126.00 target price on Darden Restaurants and gave the stock a “hold” rating in a research report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. Darden Restaurants presently has a consensus rating of “Hold” and a consensus price target of $128.34.
About Darden Restaurants
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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