Symmetry Partners LLC lowered its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 33.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,871 shares of the restaurant operator’s stock after selling 1,984 shares during the period. Symmetry Partners LLC’s holdings in Darden Restaurants were worth $458,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC lifted its stake in Darden Restaurants by 1,247.6% in the third quarter. Quadrant Capital Group LLC now owns 283 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 262 shares during the last quarter. NuWave Investment Management LLC boosted its position in Darden Restaurants by 34.5% in the second quarter. NuWave Investment Management LLC now owns 351 shares of the restaurant operator’s stock worth $43,000 after purchasing an additional 90 shares during the last quarter. Garrett Wealth Advisory Group LLC purchased a new position in Darden Restaurants in the third quarter worth $44,000. Coastal Investment Advisors Inc. boosted its position in Darden Restaurants by 115.6% in the second quarter. Coastal Investment Advisors Inc. now owns 373 shares of the restaurant operator’s stock worth $45,000 after purchasing an additional 200 shares during the last quarter. Finally, Motco boosted its position in Darden Restaurants by 125.5% in the second quarter. Motco now owns 451 shares of the restaurant operator’s stock worth $55,000 after purchasing an additional 251 shares during the last quarter. 90.97% of the stock is owned by institutional investors.
DRI stock traded up $1.17 on Friday, reaching $114.65. 56,341 shares of the company traded hands, compared to its average volume of 1,239,766. Darden Restaurants, Inc. has a one year low of $95.83 and a one year high of $128.41. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.43 and a quick ratio of 0.30. The company has a market cap of $13.83 billion, a P/E ratio of 19.71, a price-to-earnings-growth ratio of 1.99 and a beta of 0.35. The firm has a fifty day simple moving average of $113.92 and a 200-day simple moving average of $119.37.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $1.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.02. Darden Restaurants had a return on equity of 31.37% and a net margin of 8.36%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the company earned $1.34 EPS. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, sell-side analysts forecast that Darden Restaurants, Inc. will post 6.38 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Wednesday, October 9th. Darden Restaurants’s payout ratio is 60.48%.
A number of research analysts have recently commented on DRI shares. MKM Partners started coverage on Darden Restaurants in a research report on Tuesday, August 13th. They set a “neutral” rating and a $120.00 price target on the stock. Wedbush reiterated a “hold” rating and set a $125.00 price objective on shares of Darden Restaurants in a research note on Thursday, August 29th. Hauck & Aufhaeuser restated a “buy” rating on shares of Darden Restaurants in a research note on Friday, October 25th. SunTrust Banks decreased their target price on Darden Restaurants from $141.00 to $139.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Independent Research reiterated a “buy” rating on shares of Darden Restaurants in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. Darden Restaurants presently has a consensus rating of “Hold” and an average target price of $124.49.
In related news, Director Nana Mensah sold 1,103 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $112.00, for a total value of $123,536.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Douglas J. Milanes sold 1,600 shares of the business’s 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 sale, the senior vice president now owns 6,793 shares of the company’s stock, valued at approximately $808,706.65. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by company insiders.
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.
Further Reading: What is the quiet period?
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