Caisse DE Depot ET Placement DU Quebec lowered its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 51.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,424 shares of the restaurant operator’s stock after selling 6,900 shares during the quarter. Caisse DE Depot ET Placement DU Quebec’s holdings in Darden Restaurants were worth $617,000 as of its most recent filing with the SEC.
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 $126,000. Grove Bank & Trust boosted its stake 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 purchasing an additional 1,120 shares in the last quarter. Cetera Advisor Networks LLC acquired a new position in Darden Restaurants in the fourth quarter worth $200,000. Texas Yale Capital Corp. acquired a new position in Darden Restaurants in the fourth quarter worth $205,000. Finally, Ifrah Financial Services Inc. acquired a new position in Darden Restaurants in the fourth quarter worth $208,000. 92.69% of the stock is currently owned by institutional investors.
In other Darden Restaurants news, CFO Ricardo Cardenas sold 10,783 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $97.17, for a total value of $1,047,784.11. Following the completion of the transaction, the chief financial officer now directly owns 20,046 shares of the company’s stock, valued at $1,947,869.82. The transaction was disclosed in a legal 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 value of $5,786,994.40. Following the completion of the transaction, the insider now directly owns 164,396 shares of the company’s stock, valued at $15,913,532.80. The disclosure for this sale can be found here. Insiders sold 74,866 shares of company stock valued at $7,252,094 in the last quarter. 0.63% of the stock is currently owned by corporate insiders.
Shares of Darden Restaurants, Inc. (NYSE DRI) opened at $94.55 on Friday. The company has a market capitalization of $11,565.23, a PE ratio of 24.24, a P/E/G ratio of 1.81 and a beta of 0.22. The company has a quick ratio of 0.20, a current ratio of 0.34 and a debt-to-equity ratio of 0.47. Darden Restaurants, Inc. has a fifty-two week low of $75.20 and a fifty-two week high of $100.11.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Tuesday, December 19th. The restaurant operator reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.85 billion. Darden Restaurants had a return on equity of 26.24% and a net margin of 6.46%. equities analysts expect that Darden Restaurants, Inc. will post 4.76 EPS for the current fiscal year.
A number of equities analysts have commented on the company. Mizuho assumed coverage on Darden Restaurants in a research note on Thursday. They issued a “buy” rating and a $105.00 price objective on the stock. Maxim Group reissued a “buy” rating and issued a $112.00 price objective on shares of Darden Restaurants in a research note on Wednesday. Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $106.00 target price for the company in a research report on Monday, March 12th. Barclays restated an “overweight” rating and set a $116.00 target price (up previously from $108.00) on shares of Darden Restaurants in a research report on Tuesday, January 16th. Finally, BMO Capital Markets set a $99.00 target price on Darden Restaurants and gave the stock a “hold” rating in a research report on Friday, January 12th. 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 stock. The stock presently has a consensus rating of “Hold” and an average target price of $97.09.
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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).
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