Jefferies Group LLC reduced its position in Darden Restaurants, Inc. (NYSE:DRI) by 56.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,074 shares of the restaurant operator’s stock after selling 23,326 shares during the period. Jefferies Group LLC’s holdings in Darden Restaurants were worth $1,735,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in DRI. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Darden Restaurants by 6.5% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 21,347 shares of the restaurant operator’s stock valued at $1,682,000 after buying an additional 1,299 shares in the last quarter. Crossmark Global Holdings Inc. bought a new stake in shares of Darden Restaurants in the 3rd quarter valued at about $706,000. Alps Advisors Inc. boosted its holdings in shares of Darden Restaurants by 16.6% in the 3rd quarter. Alps Advisors Inc. now owns 10,553 shares of the restaurant operator’s stock valued at $831,000 after buying an additional 1,505 shares in the last quarter. Global X MANAGEMENT CO LLC boosted its holdings in shares of Darden Restaurants by 17.6% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 6,566 shares of the restaurant operator’s stock valued at $517,000 after buying an additional 984 shares in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Darden Restaurants by 24.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 167,349 shares of the restaurant operator’s stock valued at $13,184,000 after buying an additional 33,116 shares in the last quarter. Institutional investors and hedge funds own 92.69% of the company’s stock.
In other Darden Restaurants news, SVP Douglas J. Milanes sold 4,300 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 7,513 shares of the company’s stock, valued at approximately $729,136.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eugene I. Lee, Jr. sold 59,783 shares of the firm’s stock in a transaction that occurred on 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 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 have sold a total of 74,866 shares of company stock valued at $7,252,094 over the last three months. 0.63% of the stock is currently owned by insiders.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Darden Restaurants had a net margin of 6.46% and a return on equity of 26.24%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.85 billion. equities analysts predict that Darden Restaurants, Inc. will post 4.76 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a report on Monday. Barclays reaffirmed an “overweight” rating and issued a $116.00 price objective (up from $108.00) on shares of Darden Restaurants in a research report on Tuesday, January 16th. BMO Capital Markets set a $99.00 price objective on shares of Darden Restaurants and gave the company a “hold” rating in a research report on Friday, January 12th. Credit Suisse Group reaffirmed a “hold” rating and issued a $95.00 price objective on shares of Darden Restaurants in a research report on Friday, January 12th. Finally, SunTrust Banks set a $104.00 price objective on shares of Darden Restaurants and gave the company a “hold” rating in a research report on Thursday, January 11th. 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 stock presently has an average rating of “Hold” and an average target price of $96.73.
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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