Envestnet Asset Management Inc. decreased its stake in Darden Restaurants, Inc. (NYSE:DRI) by 0.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,704 shares of the restaurant operator’s stock after selling 422 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Darden Restaurants were worth $6,766,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. TIAA CREF Investment Management LLC boosted its holdings in Darden Restaurants by 0.3% in the third quarter. TIAA CREF Investment Management LLC now owns 273,563 shares of the restaurant operator’s stock valued at $30,417,000 after purchasing an additional 751 shares during the period. Vanguard Group Inc increased its position in Darden Restaurants by 5.2% in the 3rd quarter. Vanguard Group Inc now owns 13,687,194 shares of the restaurant operator’s stock valued at $1,521,879,000 after acquiring an additional 673,563 shares during the period. Advisors Asset Management Inc. increased its position in Darden Restaurants by 7.8% in the 4th quarter. Advisors Asset Management Inc. now owns 9,461 shares of the restaurant operator’s stock valued at $945,000 after acquiring an additional 684 shares during the period. TD Asset Management Inc. increased its position in Darden Restaurants by 4.3% during the 4th quarter. TD Asset Management Inc. now owns 102,356 shares of the restaurant operator’s stock worth $10,221,000 after purchasing an additional 4,196 shares during the period. Finally, BB&T Securities LLC increased its position in Darden Restaurants by 25.0% during the 4th quarter. BB&T Securities LLC now owns 15,756 shares of the restaurant operator’s stock worth $1,573,000 after purchasing an additional 3,156 shares during the period. Hedge funds and other institutional investors own 88.86% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research lowered Darden Restaurants from a “buy” rating to a “hold” rating and set a $125.00 target price on the stock. in a research note on Wednesday. Evercore ISI assumed coverage on Darden Restaurants in a research note on Tuesday. They issued an “outperform” rating and a $135.00 target price on the stock. Wells Fargo & Co upped their target price on Darden Restaurants from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, March 22nd. BTIG Research upped their target price on Darden Restaurants to $134.00 and gave the company a “buy” rating in a research note on Friday, March 22nd. Finally, Wedbush increased their price target on Darden Restaurants from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company’s stock. Darden Restaurants presently has a consensus rating of “Buy” and a consensus price target of $129.96.
Shares of NYSE DRI opened at $117.81 on Thursday. Darden Restaurants, Inc. has a 12-month low of $91.34 and a 12-month high of $125.33. The firm has a market capitalization of $14.64 billion, a P/E ratio of 21.84, a P/E/G ratio of 1.80 and a beta of 0.30. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.48 and a quick ratio of 0.33.
Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Thursday, March 21st. The restaurant operator reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.75 by $0.05. Darden Restaurants had a return on equity of 30.28% and a net margin of 8.08%. The firm had revenue of $2.25 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the firm earned $1.71 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, analysts forecast that Darden Restaurants, Inc. will post 5.78 earnings per share for the current year.
In other news, insider Eugene I. Lee, Jr. sold 73,152 shares of the stock in a transaction dated 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 transaction, the insider now owns 190,025 shares of the company’s stock, valued at $22,538,865.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John W. Madonna sold 330 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $118.76, for a total transaction of $39,190.80. Following the transaction, the senior vice president now directly owns 1,680 shares in the company, valued at approximately $199,516.80. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by corporate insiders.
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Darden Restaurants Company 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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