Tredje AP fonden lowered its stake in Darden Restaurants (NYSE:DRI) by 23.6% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,270 shares of the restaurant operator’s stock after selling 8,730 shares during the period. Tredje AP fonden’s holdings in Darden Restaurants were worth $2,410,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of DRI. Cerebellum GP LLC purchased a new stake in shares of Darden Restaurants in the 4th quarter worth approximately $126,000. Jacobi Capital Management LLC lifted its position in Darden Restaurants by 79.3% in the 1st quarter. Jacobi Capital Management LLC now owns 1,585 shares of the restaurant operator’s stock valued at $133,000 after acquiring an additional 701 shares in the last quarter. Cetera Advisor Networks LLC bought a new position in Darden Restaurants in the 4th quarter valued at approximately $200,000. Texas Yale Capital Corp. bought a new position in Darden Restaurants in the 4th quarter valued at approximately $205,000. Finally, Ifrah Financial Services Inc. bought a new position in Darden Restaurants in the 4th quarter valued at approximately $208,000. Institutional investors own 90.94% of the company’s stock.
NYSE DRI opened at $85.06 on Friday. The firm has a market cap of $10.51 billion, a PE ratio of 18.45, a PEG ratio of 1.63 and a beta of 0.22. The company has a current ratio of 0.39, a quick ratio of 0.25 and a debt-to-equity ratio of 0.44. Darden Restaurants has a 1-year low of $76.27 and a 1-year high of $100.11.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Thursday, March 22nd. The restaurant operator reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.07. The firm had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Darden Restaurants had a return on equity of 28.12% and a net margin of 6.92%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.32 EPS. analysts forecast that Darden Restaurants will post 4.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th were paid a $0.63 dividend. The ex-dividend date of this dividend was Monday, April 9th. This represents a $2.52 annualized dividend and a dividend yield of 2.96%. Darden Restaurants’s dividend payout ratio (DPR) is 62.69%.
Several equities analysts recently issued reports on DRI shares. Raymond James raised Darden Restaurants to a “buy” rating in a research report on Monday, April 2nd. Mizuho started coverage on Darden Restaurants in a research report on Thursday, March 15th. They issued a “buy” rating and a $105.00 price objective on the stock. Maxim Group reaffirmed a “buy” rating and issued a $112.00 price objective on shares of Darden Restaurants in a research report on Wednesday, March 14th. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research report on Monday, March 12th. Finally, Stifel Nicolaus lowered their price objective on Darden Restaurants from $105.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, March 23rd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and fifteen have given a buy rating to the company. Darden Restaurants currently has a consensus rating of “Buy” and a consensus price target of $98.43.
Darden Restaurants Profile
Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of June 27, 2017, it owned and operated approximately 1,700 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, and Eddie V's brands.
Want to see what other hedge funds are holding DRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darden Restaurants (NYSE:DRI).
Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.