Huntington National Bank lessened its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 10.7% in the first quarter, HoldingsChannel reports. The institutional investor owned 1,279 shares of the restaurant operator’s stock after selling 154 shares during the quarter. Huntington National Bank’s holdings in Darden Restaurants were worth $155,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of DRI. Sageworth Trust Co bought a new position in shares of Darden Restaurants during the 1st quarter valued at about $25,000. Private Capital Group LLC lifted its holdings in shares of Darden Restaurants by 356.5% in the 4th quarter. Private Capital Group LLC now owns 315 shares of the restaurant operator’s stock valued at $31,000 after acquiring an additional 246 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Darden Restaurants by 14,173.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,131,508 shares of the restaurant operator’s stock valued at $41,000 after acquiring an additional 4,102,562 shares during the last quarter. Highwater Wealth Management LLC bought a new position in shares of Darden Restaurants in the 4th quarter valued at about $67,000. Finally, Enlightenment Research LLC bought a new position in shares of Darden Restaurants in the 4th quarter valued at about $170,000. Institutional investors and hedge funds own 91.29% of the company’s stock.
In other Darden Restaurants news, Director William S. Simon sold 1,565 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were sold at an average price of $104.90, for a total value of $164,168.50. Following the completion of the sale, the director now directly owns 10,248 shares in the company, valued at $1,075,015.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eugene I. Lee, Jr. sold 73,152 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $118.61, for a total transaction of $8,676,558.72. Following the completion of the sale, the insider now owns 190,025 shares of the company’s stock, valued at $22,538,865.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 75,047 shares of company stock valued at $8,879,918. 0.65% of the stock is owned by insiders.
Shares of DRI stock opened at $115.85 on Tuesday. The company has a market cap of $14.33 billion, a P/E ratio of 21.38, a price-to-earnings-growth ratio of 1.96 and a beta of 0.31. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.33 and a current ratio of 0.48. Darden Restaurants, Inc. has a 52-week low of $84.37 and a 52-week high of $124.00.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, March 21st. The restaurant operator reported $1.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.75 by $0.05. The company had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. Darden Restaurants had a net margin of 8.08% and a return on equity of 30.28%. Darden Restaurants’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $1.71 earnings per share. Sell-side analysts anticipate that Darden Restaurants, Inc. will post 5.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a $0.75 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $3.00 annualized dividend and a yield of 2.59%. Darden Restaurants’s dividend payout ratio (DPR) is 62.37%.
A number of research firms recently weighed in on DRI. Wells Fargo & Co increased their price objective on shares of Darden Restaurants from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Friday, March 22nd. Robert W. Baird reduced their target price on shares of Darden Restaurants from $120.00 to $115.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 19th. Mizuho raised their target price on shares of Darden Restaurants from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Morgan Stanley raised their target price on shares of Darden Restaurants from $112.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Friday, March 22nd. Finally, Zacks Investment Research reaffirmed a “hold” rating and set a $108.00 target price on shares of Darden Restaurants in a research report on Monday, December 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $128.13.
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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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