Randolph Co Inc Acquires 850 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Randolph Co Inc increased its stake in Darden Restaurants, Inc. (NYSE:DRI) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 102,150 shares of the restaurant operator’s stock after buying an additional 850 shares during the quarter. Darden Restaurants comprises 1.7% of Randolph Co Inc’s portfolio, making the stock its 25th largest position. Randolph Co Inc owned about 0.08% of Darden Restaurants worth $9,808,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. D.A. Davidson & CO. lifted its holdings in shares of Darden Restaurants by 1.7% in the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock worth $114,000 after purchasing an additional 21 shares during the last quarter. Argent Capital Management LLC lifted its stake in shares of Darden Restaurants by 2.0% in the 2nd quarter. Argent Capital Management LLC now owns 5,125 shares of the restaurant operator’s stock valued at $464,000 after purchasing an additional 100 shares during the period. Thrivent Financial For Lutherans lifted its stake in shares of Darden Restaurants by 7.7% in the 2nd quarter. Thrivent Financial For Lutherans now owns 5,456 shares of the restaurant operator’s stock valued at $494,000 after purchasing an additional 389 shares during the period. First Allied Advisory Services Inc. lifted its stake in shares of Darden Restaurants by 8.0% in the 2nd quarter. First Allied Advisory Services Inc. now owns 6,543 shares of the restaurant operator’s stock valued at $593,000 after purchasing an additional 483 shares during the period. Finally, Advisor Partners LLC lifted its stake in shares of Darden Restaurants by 13.6% in the 3rd quarter. Advisor Partners LLC now owns 5,610 shares of the restaurant operator’s stock valued at $442,000 after purchasing an additional 673 shares during the period. Institutional investors and hedge funds own 92.06% of the company’s stock.

Shares of Darden Restaurants, Inc. (NYSE DRI) traded up $1.01 during trading hours on Wednesday, hitting $95.73. 288,506 shares of the stock were exchanged, compared to its average volume of 1,401,615. The firm has a market capitalization of $11,639.35, a price-to-earnings ratio of 24.52, a PEG ratio of 1.82 and a beta of 0.16. The company has a current ratio of 0.34, a quick ratio of 0.20 and a debt-to-equity ratio of 0.47. Darden Restaurants, Inc. has a 52 week low of $73.81 and a 52 week high of $100.11.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.85 billion. Darden Restaurants had a net margin of 6.46% and a return on equity of 26.24%. research analysts anticipate 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 was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Tuesday, January 9th. Darden Restaurants’s payout ratio is 64.62%.

A number of research firms have recently commented on DRI. SunTrust Banks restated a “hold” rating on shares of Darden Restaurants in a research note on Thursday, December 21st. BMO Capital Markets set a $101.00 price objective on shares of Darden Restaurants and gave the company a “hold” rating in a research note on Tuesday, December 19th. Wells Fargo & Co reissued a “market perform” rating and issued a $99.00 price objective (up from $92.00) on shares of Darden Restaurants in a research note on Tuesday, January 9th. Barclays reissued an “overweight” rating and issued a $116.00 price objective (up from $108.00) on shares of Darden Restaurants in a research note on Tuesday, January 16th. Finally, Zacks Investment Research raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research note on Monday, January 8th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $96.95.

In other Darden Restaurants news, SVP Douglas J. Milanes sold 4,300 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $97.05, for a total value of $417,315.00. Following the transaction, the senior vice president now directly owns 7,513 shares in the company, valued at $729,136.65. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Eugene I. Lee, Jr. sold 59,783 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $96.80, for a total transaction of $5,786,994.40. Following the completion of the transaction, the insider now owns 164,396 shares in the company, valued at $15,913,532.80. The disclosure for this sale can be found here. Insiders sold a total of 74,866 shares of company stock valued at $7,252,094 over the last ninety days. 0.63% of the stock is currently owned by insiders.

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About Darden Restaurants

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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