Allianz Asset Management GmbH lowered its position in Darden Restaurants, Inc. (NYSE:DRI) by 61.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 158,561 shares of the restaurant operator’s stock after selling 251,848 shares during the period. Allianz Asset Management GmbH owned about 0.13% of Darden Restaurants worth $17,630,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ffcm LLC lifted its position in Darden Restaurants by 722.1% during the third quarter. Ffcm LLC now owns 49,966 shares of the restaurant operator’s stock valued at $143,000 after purchasing an additional 43,888 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in Darden Restaurants during the third quarter valued at $149,000. Harvest Fund Management Co. Ltd lifted its position in Darden Restaurants by 171.8% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,571 shares of the restaurant operator’s stock valued at $175,000 after purchasing an additional 993 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in Darden Restaurants by 92.9% during the second quarter. Moneta Group Investment Advisors LLC now owns 1,640 shares of the restaurant operator’s stock valued at $176,000 after purchasing an additional 790 shares in the last quarter. Finally, Smithfield Trust Co. lifted its position in Darden Restaurants by 537.3% during the third quarter. Smithfield Trust Co. now owns 1,625 shares of the restaurant operator’s stock valued at $181,000 after purchasing an additional 1,370 shares in the last quarter. 90.52% of the stock is owned by institutional investors.
Shares of Darden Restaurants stock opened at $104.83 on Friday. Darden Restaurants, Inc. has a 52 week low of $82.38 and a 52 week high of $124.00. The stock has a market capitalization of $13.37 billion, a PE ratio of 21.79, a price-to-earnings-growth ratio of 2.05 and a beta of 0.17. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 0.41.
Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Thursday, September 20th. The restaurant operator reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.10. The business had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.03 billion. Darden Restaurants had a return on equity of 30.32% and a net margin of 7.84%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.99 earnings per share. On average, equities research analysts anticipate that Darden Restaurants, Inc. will post 5.62 EPS for the current fiscal year.
Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded Darden Restaurants from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Co lifted their target price on Darden Restaurants from $108.00 to $109.00 and gave the company a “market perform” rating in a research report on Thursday. Barclays lowered their target price on Darden Restaurants from $133.00 to $129.00 and set an “overweight” rating on the stock in a research report on Thursday, November 29th. Mizuho lifted their target price on Darden Restaurants from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, September 21st. Finally, Loop Capital started coverage on Darden Restaurants in a research report on Wednesday, October 24th. They set a “buy” rating and a $130.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $119.84.
In related news, COO David C. George sold 55,671 shares of the business’s stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $108.24, for a total value of $6,025,829.04. Following the sale, the chief operating officer now directly owns 95,236 shares in the company, valued at $10,308,344.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Eugene I. Lee, Jr. sold 60,688 shares of the business’s stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $112.63, for a total value of $6,835,289.44. Following the completion of the sale, the insider now owns 147,561 shares in the company, valued at $16,619,795.43. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.
Darden Restaurants Profile
Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 27, 2018, it owned and operated approximately 1,746 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Bahama Breeze, Seasons 52, and Eddie V's brands.
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