Systematic Financial Management LP Invests $17.20 Million in Darden Restaurants, Inc. (DRI) Stock

Systematic Financial Management LP purchased a new position in Darden Restaurants, Inc. (NYSE:DRI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 179,145 shares of the restaurant operator’s stock, valued at approximately $17,202,000. Systematic Financial Management LP owned about 0.15% of Darden Restaurants as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Cerebellum GP LLC acquired a new position in Darden Restaurants in the fourth quarter worth approximately $126,000. Moisand Fitzgerald Tamayo LLC acquired a new position in Darden Restaurants in the third quarter worth approximately $115,000. Grove Bank & Trust grew its position in Darden Restaurants by 155.6% in the third quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock worth $145,000 after buying an additional 1,120 shares during the last quarter. Cetera Advisor Networks LLC acquired a new position in Darden Restaurants in the fourth quarter worth approximately $200,000. Finally, Texas Yale Capital Corp. acquired a new position in Darden Restaurants in the fourth quarter worth approximately $205,000. Hedge funds and other institutional investors own 85.05% of the company’s stock.

Darden Restaurants, Inc. (NYSE DRI) opened at $94.90 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.20 and a current ratio of 0.34. Darden Restaurants, Inc. has a fifty-two week low of $73.81 and a fifty-two week high of $100.11. The company has a market cap of $11,923.48, a price-to-earnings ratio of 24.33, a PEG ratio of 1.87 and a beta of 0.16.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 EPS for the quarter, beating the 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 business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.85 billion. sell-side analysts predict that Darden Restaurants, Inc. will post 4.76 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.66%. The ex-dividend date was Tuesday, January 9th. Darden Restaurants’s dividend payout ratio is currently 64.62%.

In related news, CFO Ricardo Cardenas sold 10,783 shares of Darden Restaurants stock in a transaction on 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 document filed with the SEC, which can be accessed through the SEC website. Also, SVP Douglas J. Milanes sold 4,300 shares of Darden Restaurants stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $97.05, for a total transaction of $417,315.00. Following the completion of the sale, the senior vice president now directly owns 7,513 shares of the company’s stock, valued at approximately $729,136.65. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,866 shares of company stock worth $7,252,094. 0.63% of the stock is currently owned by corporate insiders.

Several research analysts have issued reports on the stock. SunTrust Banks set a $104.00 price target on shares of Darden Restaurants and gave the stock a “hold” rating in a research report on Thursday, January 11th. Maxim Group reiterated a “buy” rating and set a $103.00 price objective (up from $93.00) on shares of Darden Restaurants in a research report on Wednesday, December 20th. Robert W. Baird reiterated an “outperform” rating and set a $104.00 price objective (up from $94.00) on shares of Darden Restaurants in a research 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 price objective on the stock in a research report on Monday, January 8th. Finally, Jefferies Group lifted their price objective on shares of Darden Restaurants from $82.00 to $90.00 and gave the stock a “hold” rating in a research report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $96.95.

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

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