State of Alaska Department of Revenue Purchases 7,550 Shares of Darden Restaurants, Inc. (DRI)

State of Alaska Department of Revenue raised its position in Darden Restaurants, Inc. (NYSE:DRI) by 11.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,517 shares of the restaurant operator’s stock after acquiring an additional 7,550 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.06% of Darden Restaurants worth $6,960,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Toronto Dominion Bank lifted its position in shares of Darden Restaurants by 26.0% during the 2nd quarter. Toronto Dominion Bank now owns 42,119 shares of the restaurant operator’s stock worth $3,808,000 after buying an additional 8,694 shares during the last quarter. Tredje AP fonden lifted its position in shares of Darden Restaurants by 11.0% during the 3rd quarter. Tredje AP fonden now owns 61,850 shares of the restaurant operator’s stock worth $4,873,000 after buying an additional 6,110 shares during the last quarter. Eastern Bank purchased a new stake in shares of Darden Restaurants during the 3rd quarter worth approximately $2,327,000. Schwab Charles Investment Management Inc. lifted its position in shares of Darden Restaurants by 4.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,061,980 shares of the restaurant operator’s stock worth $83,663,000 after buying an additional 43,734 shares during the last quarter. Finally, Korea Investment CORP lifted its position in shares of Darden Restaurants by 2.8% during the 3rd quarter. Korea Investment CORP now owns 298,182 shares of the restaurant operator’s stock worth $23,491,000 after buying an additional 8,200 shares during the last quarter. Institutional investors own 91.83% of the company’s stock.

Darden Restaurants, Inc. (NYSE DRI) opened at $99.04 on Friday. The company has a market cap of $12,027.25, a price-to-earnings ratio of 25.39, a PEG ratio of 1.89 and a beta of 0.20. Darden Restaurants, Inc. has a 1-year low of $71.43 and a 1-year high of $100.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.34 and a quick ratio of 0.20.

Darden Restaurants (NYSE:DRI) last announced its earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Darden Restaurants had a net margin of 6.46% and a return on equity of 26.24%. analysts predict that Darden Restaurants, Inc. will post 4.76 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.52 annualized dividend and a yield of 2.54%. Darden Restaurants’s dividend payout ratio is currently 64.62%.

DRI has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Darden Restaurants from a “sell” rating to a “hold” rating in a research report on Monday, October 30th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective (down previously from $96.00) on shares of Darden Restaurants in a research report on Friday, September 22nd. Longbow Research initiated coverage on shares of Darden Restaurants in a research report on Friday, October 13th. They set a “neutral” rating for the company. BMO Capital Markets set a $101.00 price objective on shares of Darden Restaurants and gave the stock a “hold” rating in a research report on Tuesday, December 19th. Finally, Argus upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $95.67 to $108.00 in a research report on Thursday, December 21st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $96.22.

In other Darden Restaurants news, insider Eugene I. Lee, Jr. sold 59,783 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $96.80, for a total value of $5,786,994.40. Following the transaction, the insider now directly owns 164,396 shares of the company’s stock, valued at approximately $15,913,532.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ricardo Cardenas sold 10,783 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $97.17, for a total transaction of $1,047,784.11. Following the completion of the transaction, the chief financial officer now directly owns 20,046 shares in the company, valued at $1,947,869.82. The disclosure for this sale can be found here. Insiders sold a total of 74,866 shares of company stock worth $7,252,094 over the last three months. 0.63% of the stock is currently owned by corporate insiders.

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Darden Restaurants Company Profile

Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).

Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

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