Twin Tree Management LP bought a new stake in Darden Restaurants, Inc. (NYSE:DRI) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 8,983 shares of the restaurant operator’s stock, valued at approximately $863,000.
A number of other large investors also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN boosted its holdings in Darden Restaurants by 2.2% in the third quarter. Wells Fargo & Company MN now owns 3,317,326 shares of the restaurant operator’s stock valued at $261,339,000 after purchasing an additional 72,824 shares during the period. APG Asset Management N.V. boosted its holdings in Darden Restaurants by 34.4% in the third quarter. APG Asset Management N.V. now owns 2,361,712 shares of the restaurant operator’s stock valued at $186,056,000 after purchasing an additional 604,364 shares during the period. Victory Capital Management Inc. boosted its holdings in Darden Restaurants by 1,963.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,067,552 shares of the restaurant operator’s stock valued at $198,526,000 after purchasing an additional 1,967,362 shares during the period. HS Management Partners LLC purchased a new position in Darden Restaurants in the third quarter valued at $157,044,000. Finally, American Century Companies Inc. boosted its holdings in Darden Restaurants by 29.2% in the fourth quarter. American Century Companies Inc. now owns 1,689,176 shares of the restaurant operator’s stock valued at $162,195,000 after purchasing an additional 381,677 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.
Shares of Darden Restaurants, Inc. (NYSE:DRI) opened at $96.52 on Friday. The company has a current ratio of 0.34, a quick ratio of 0.20 and a debt-to-equity ratio of 0.47. Darden Restaurants, Inc. has a 52-week low of $73.81 and a 52-week high of $100.11. The company has a market capitalization of $12,068.02, a PE ratio of 24.75, a PEG ratio of 1.89 and a beta of 0.16.
Darden Restaurants (NYSE:DRI) last posted its earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. Darden Restaurants had a return on equity of 26.24% and a net margin of 6.46%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.85 billion. research analysts forecast that Darden Restaurants, Inc. will post 4.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Tuesday, January 9th. Darden Restaurants’s dividend payout ratio (DPR) is currently 64.62%.
In other news, insider Eugene I. Lee, Jr. sold 59,783 shares of Darden Restaurants stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $96.80, for a total transaction of $5,786,994.40. Following the sale, the insider now owns 164,396 shares in the company, valued at $15,913,532.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas J. Milanes sold 4,300 shares of Darden Restaurants stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $97.05, for a total value of $417,315.00. Following the sale, the senior vice president now owns 7,513 shares in the company, valued at approximately $729,136.65. The disclosure for this sale can be found here. Insiders have sold 74,866 shares of company stock worth $7,252,094 in the last quarter. Insiders own 0.63% of the company’s stock.
A number of research firms recently issued reports on DRI. Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $111.00 target price for the company in a report on Monday, January 8th. Maxim Group reiterated a “buy” rating and issued a $112.00 target price (up from $103.00) on shares of Darden Restaurants in a report on Tuesday, January 9th. Wells Fargo & Co reiterated a “market perform” rating and issued a $99.00 target price (up from $92.00) on shares of Darden Restaurants in a report on Tuesday, January 9th. Credit Suisse Group reiterated a “hold” rating and issued a $95.00 target price on shares of Darden Restaurants in a report on Friday, January 12th. Finally, BMO Capital Markets set a $99.00 target price on Darden Restaurants and gave the company a “hold” rating in a report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $96.95.
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About Darden Restaurants
Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
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