Employees Retirement System of Texas raised its stake in Darden Restaurants, Inc. (NYSE:DRI) by 49.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 142,000 shares of the restaurant operator’s stock after purchasing an additional 47,000 shares during the quarter. Employees Retirement System of Texas owned about 0.11% of Darden Restaurants worth $13,635,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Systematic Financial Management LP acquired a new position in shares of Darden Restaurants in the 4th quarter valued at $17,202,000. Virtu Financial LLC boosted its holdings in shares of Darden Restaurants by 139.9% in the 4th quarter. Virtu Financial LLC now owns 14,632 shares of the restaurant operator’s stock valued at $1,405,000 after purchasing an additional 8,532 shares during the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Darden Restaurants during the 4th quarter valued at $588,000. Schroder Investment Management Group lifted its holdings in shares of Darden Restaurants by 3.2% during the 4th quarter. Schroder Investment Management Group now owns 187,111 shares of the restaurant operator’s stock valued at $17,966,000 after acquiring an additional 5,875 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Darden Restaurants by 32.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 28,346 shares of the restaurant operator’s stock valued at $2,722,000 after acquiring an additional 6,999 shares in the last quarter. Institutional investors own 85.05% of the company’s stock.
Several equities analysts recently weighed in on the stock. SunTrust Banks set a $104.00 target price on shares of Darden Restaurants and gave the company a “hold” rating in a report on Thursday, January 11th. Maxim Group restated a “buy” rating and set a $103.00 target price (up previously from $93.00) on shares of Darden Restaurants in a report on Wednesday, December 20th. Robert W. Baird restated an “outperform” rating and set a $104.00 target price (up previously from $94.00) on shares of Darden Restaurants in a report on Wednesday, December 20th. Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a report on Monday, January 8th. Finally, Jefferies Group lifted their target price on shares of Darden Restaurants from $82.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $96.95.
In other news, CFO Ricardo Cardenas sold 10,783 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $97.17, for a total value of $1,047,784.11. Following the completion of the sale, the chief financial officer now owns 20,046 shares of the company’s stock, valued at approximately $1,947,869.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eugene I. Lee, Jr. sold 59,783 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $96.80, for a total transaction of $5,786,994.40. Following the completion of the sale, the insider now directly owns 164,396 shares of the company’s stock, valued at approximately $15,913,532.80. The disclosure for this sale can be found here. Insiders have sold a total of 74,866 shares of company stock worth $7,252,094 in the last ninety days. 0.63% of the stock is currently owned by insiders.
Shares of Darden Restaurants, Inc. (NYSE:DRI) opened at $96.52 on Tuesday. Darden Restaurants, Inc. has a one year low of $73.81 and a one year high of $100.11. The stock has a market cap of $11,923.48, a price-to-earnings ratio of 22.87, a P/E/G ratio of 1.87 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 (NYSE:DRI) last released its quarterly earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Darden Restaurants had a net margin of 6.46% and a return on equity of 26.24%. The firm had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.85 billion. analysts expect that Darden Restaurants, Inc. will post 4.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.61%. The ex-dividend date was Tuesday, January 9th. Darden Restaurants’s dividend payout ratio (DPR) is 64.62%.
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Darden Restaurants 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).
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