&Partners Raises Shares in Darden Restaurants, Inc. (NYSE:DRI)

&Partners increased its holdings in Darden Restaurants, Inc. (NYSE:DRI – Free Report) by 123.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,727 shares of the restaurant operator’s stock after buying an additional 2,062 shares during the period. &Partners’ holdings in Darden Restaurants were worth $564,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rise Advisors LLC boosted its stake in Darden Restaurants by 131.3% in the first quarter. Rise Advisors LLC now owns 155 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 88 shares during the last quarter. ESL Trust Services LLC purchased a new stake in shares of Darden Restaurants in the first quarter valued at approximately $27,000. Union Savings Bank boosted its stake in Darden Restaurants by 44.0% in the fourth quarter. Union Savings Bank now owns 216 shares of the restaurant operator’s stock worth $35,000 after buying an additional 66 shares during the period. Gables Capital Management Inc. lifted its position in shares of Darden Restaurants by 106.4% during the fourth quarter. Gables Capital Management Inc. now owns 227 shares of the restaurant operator’s stock worth $37,000 after purchasing an additional 117 shares in the last quarter. Finally, ZRC Wealth Management LLC purchased a new stake in shares of Darden Restaurants in the first quarter valued at $39,000. 93.64% of shares are held by institutional investors.

Inside activity at Darden restaurants

In other Darden Restaurants news, SVP Sarah H. King sold 15,941 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $147.06, for a total value of $2,344,283.46. Following the sale, the senior vice president now directly owns 447 shares of the company’s stock, valued at $65,735.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In related news, insider Melvin John Martin sold 2,500 shares of the stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $141.09, for a total value of $352,725.00. Following the completion of the transaction, the insider now directly owns 11,691 shares of the company’s stock, valued at approximately $1,649,483.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. Also, SVP Sarah H. King sold 15,941 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $147.06, for a total transaction of $2,344,283.46. Following the sale, the senior vice president now directly owns 447 shares of the company’s stock, valued at approximately $65,735.82. The disclosure for this sale can be found here. 0.85% of shares are owned by company insiders.

Price performance of Darden restaurants

Shares of DRI stock opened at $154.07 on Friday. The company has a market cap of $18.39 billion, a P/E ratio of 18.08, a P/E/G ratio of 1.62 and a beta of 1.29. The company’s 50-day moving average is $146.32, and its two-hundred-day moving average is $154.62. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.24, and a current ratio of 0.38. Darden Restaurants, Inc. it has a fifty-two week low of $133.36 and a fifty-two week high of $176.84.

Darden Restaurants (NYSE:DRI – Get Free Report ) last announced its quarterly earnings results on Thursday, June 20th. The restaurant operator reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.04. Darden Restaurants had a return on equity of 49.82% and a net margin of 9.02%. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.97 billion. In the same period last year, the company earned $2.58 per share. Darden Restaurants’ quarterly revenue was up 8.3% on a year-over-year basis. Research analysts predict that Darden Restaurants, Inc. will post 9.48 earnings per share for the current year.

Darden Restaurants Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Investors of record on Thursday, July 11th were given a dividend of $1.29 per share. This represents a dividend of $5.16 on an annualized basis and a yield of 3.35%. The ex-dividend date was Wednesday, July 10. Darden Restaurants’ dividend payout ratio (DPR) is currently 65.73%.

Analysts set new price targets

DRI has been the subject of several recent analyst reports. Raymond James reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Darden Restaurants in a research note on Tuesday. Citigroup boosted their price objective on Darden Restaurants from $191.00 to $192.00 and gave the stock a “buy” rating in a research note on Friday, June 21st. Wedbush reaffirmed an “outperform” rating and set a $170.00 target price on shares of Darden Restaurants in a research report on Thursday, July 18th. Bank of America boosted their price target on Darden Restaurants from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, Evercore ISI reduced their price objective on shares of Darden Restaurants from $170.00 to $165.00 and set an “in-line” rating for the company in a research note on Thursday. June 13. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Moderate Buy” and a consensus price target of $170.50, based on data from MarketBeat.com.

Check out our latest research report on Darden restaurants

Darden Restaurants Company Profile

(Free report)

Darden Restaurants, Inc., together with its subsidiaries, owns and operates full-service restaurants in the United States and Canada. It operates under the brands Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V’s Prime Seafood and Capital Burger.

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