Darden Restaurants, Inc. (NYSE:DRI) Shares Acquired by New England Research & Management Inc.

New England Research & Management Inc. grew its stake in Darden Restaurants, Inc. (NYSE:DRI) by 55.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,323 shares of the restaurant operator’s stock after purchasing an additional 1,900 shares during the quarter. New England Research & Management Inc.’s holdings in Darden Restaurants were worth $629,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Darden Restaurants by 3.9% during the second 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 period. BlackRock Inc. raised its stake in Darden Restaurants by 23.3% during the second 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 period. Bank of America Corp DE raised its stake in Darden Restaurants by 2.9% during the second quarter. Bank of America Corp DE now owns 4,926,013 shares of the restaurant operator’s stock worth $599,643,000 after acquiring an additional 139,204 shares during the period. Newport Trust Co raised its stake in Darden Restaurants by 0.7% during the second quarter. Newport Trust Co now owns 2,608,233 shares of the restaurant operator’s stock worth $317,500,000 after acquiring an additional 17,706 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Darden Restaurants by 6.4% during the second quarter. Wells Fargo & Company MN now owns 2,079,677 shares of the restaurant operator’s stock worth $253,159,000 after acquiring an additional 125,190 shares during the period. Institutional investors and hedge funds own 90.97% of the company’s stock.

Shares of NYSE:DRI traded up $1.43 during trading hours on Friday, hitting $114.91. The stock had a trading volume of 988,411 shares, compared to its average volume of 1,289,022. The stock’s fifty day simple moving average is $113.92 and its 200 day simple moving average is $119.37. Darden Restaurants, Inc. has a 1-year low of $95.83 and a 1-year high of $128.41. The firm has a market capitalization of $13.83 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 1.99 and a beta of 0.35. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.30 and a current ratio of 0.43.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $1.38 EPS for the quarter, beating the consensus estimate of $1.36 by $0.02. Darden Restaurants had a net margin of 8.36% and a return on equity of 31.37%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business earned $1.34 earnings per share. Darden Restaurants’s revenue was up 3.5% compared to the same quarter last year. As a group, research analysts anticipate that Darden Restaurants, Inc. will post 6.38 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 3.06%. The ex-dividend date was Wednesday, October 9th. Darden Restaurants’s dividend payout ratio (DPR) is presently 60.48%.

Several research firms recently weighed in on DRI. Independent Research reiterated a “buy” rating on shares of Darden Restaurants in a research note on Monday, October 28th. Citigroup dropped their price objective on shares of Darden Restaurants from $144.00 to $138.00 and set a “buy” rating on the stock in a research note on Tuesday, September 24th. Goldman Sachs Group reiterated a “neutral” rating on shares of Darden Restaurants in a research note on Friday, October 25th. HSBC reiterated a “neutral” rating on shares of Darden Restaurants in a research note on Monday, October 28th. Finally, Kepler Capital Markets reiterated a “neutral” rating on shares of Darden Restaurants in a research note on Saturday, November 2nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $124.49.

In other news, SVP Douglas J. Milanes sold 1,600 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $119.05, for a total value of $190,480.00. Following the completion of the transaction, the senior vice president now directly owns 6,793 shares in the company, valued at $808,706.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Nana Mensah sold 1,103 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $112.00, for a total transaction of $123,536.00. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

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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Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

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