M&T Bank Corp decreased its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 4.7% in the fourth quarter, Holdings Channel reports. The fund owned 58,312 shares of the restaurant operator’s stock after selling 2,844 shares during the quarter. M&T Bank Corp’s holdings in Darden Restaurants were worth $5,824,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of DRI. BerganKDV Wealth Management LLC increased its stake in Darden Restaurants by 2.0% during the 4th quarter. BerganKDV Wealth Management LLC now owns 18,677 shares of the restaurant operator’s stock valued at $1,865,000 after purchasing an additional 361 shares in the last quarter. TD Asset Management Inc. increased its stake in shares of Darden Restaurants by 4.3% in the fourth quarter. TD Asset Management Inc. now owns 102,356 shares of the restaurant operator’s stock worth $10,221,000 after acquiring an additional 4,196 shares during the period. Dupont Capital Management Corp increased its stake in shares of Darden Restaurants by 118.6% in the fourth quarter. Dupont Capital Management Corp now owns 43,026 shares of the restaurant operator’s stock worth $4,297,000 after acquiring an additional 23,347 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of Darden Restaurants by 1.7% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 184,809 shares of the restaurant operator’s stock worth $18,455,000 after acquiring an additional 3,079 shares during the period. Finally, Shelton Capital Management acquired a new stake in shares of Darden Restaurants in the fourth quarter worth $802,000. 90.20% of the stock is owned by institutional investors.
DRI stock opened at $109.41 on Friday. The firm has a market cap of $13.54 billion, a P/E ratio of 22.75, a PEG ratio of 1.92 and a beta of 0.29. The company has a current ratio of 0.41, a quick ratio of 0.25 and a debt-to-equity ratio of 0.41. Darden Restaurants, Inc. has a one year low of $82.38 and a one year high of $124.00.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Tuesday, December 18th. The restaurant operator reported $0.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.01. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.98 billion. Darden Restaurants had a net margin of 8.12% and a return on equity of 30.48%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business earned $0.73 earnings per share. Research analysts predict that Darden Restaurants, Inc. will post 5.69 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, February 1st. Investors of record on Thursday, January 10th were given a dividend of $0.75 per share. The ex-dividend date was Wednesday, January 9th. This represents a $3.00 annualized dividend and a yield of 2.74%. Darden Restaurants’s dividend payout ratio is presently 13.10%.
A number of research firms have recently weighed in on DRI. Zacks Investment Research lowered shares of Darden Restaurants from a “buy” rating to a “hold” rating in a research note on Tuesday, December 4th. Wedbush began coverage on shares of Darden Restaurants in a research note on Thursday, January 31st. They issued a “neutral” rating and a $110.00 price objective on the stock. Loop Capital began coverage on shares of Darden Restaurants in a research note on Wednesday, October 24th. They issued a “buy” rating and a $130.00 price objective on the stock. Robert W. Baird cut their price objective on shares of Darden Restaurants from $120.00 to $115.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 19th. Finally, Maxim Group upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and increased their price objective for the stock from $119.00 to $122.00 in a research note on Wednesday, December 19th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $121.35.
In other Darden Restaurants news, Director William S. Simon sold 1,565 shares of the stock in a transaction on Friday, February 1st. The shares were sold at an average price of $104.90, for a total transaction of $164,168.50. Following the transaction, the director now directly owns 10,248 shares of the company’s stock, valued at $1,075,015.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.65% of the stock is currently owned by company insiders.
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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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