Schroder Investment Management Group Has $3.63 Million Stake in Darden Restaurants, Inc. (DRI)

Schroder Investment Management Group lowered its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 81.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 32,685 shares of the restaurant operator’s stock after selling 143,117 shares during the quarter. Schroder Investment Management Group’s holdings in Darden Restaurants were worth $3,634,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Millennium Management LLC grew its holdings in Darden Restaurants by 290.8% during the second quarter. Millennium Management LLC now owns 1,287,465 shares of the restaurant operator’s stock valued at $137,836,000 after purchasing an additional 958,040 shares during the period. Carillon Tower Advisers Inc. grew its holdings in Darden Restaurants by 339.4% during the second quarter. Carillon Tower Advisers Inc. now owns 246,050 shares of the restaurant operator’s stock valued at $26,342,000 after purchasing an additional 190,050 shares during the period. Bank of Montreal Can grew its holdings in Darden Restaurants by 33.5% during the third quarter. Bank of Montreal Can now owns 445,093 shares of the restaurant operator’s stock valued at $49,489,000 after purchasing an additional 111,587 shares during the period. Gradient Investments LLC grew its holdings in Darden Restaurants by 4.7% during the second quarter. Gradient Investments LLC now owns 98,594 shares of the restaurant operator’s stock valued at $10,556,000 after purchasing an additional 4,393 shares during the period. Finally, Raymond James & Associates grew its holdings in Darden Restaurants by 200.7% during the second quarter. Raymond James & Associates now owns 76,117 shares of the restaurant operator’s stock valued at $8,149,000 after purchasing an additional 50,806 shares during the period. Hedge funds and other institutional investors own 90.52% of the company’s stock.

Darden Restaurants stock opened at $104.83 on Friday. The company has a market capitalization of $13.58 billion, a PE ratio of 21.79, a P/E/G ratio of 2.08 and a beta of 0.17. Darden Restaurants, Inc. has a twelve month low of $82.38 and a twelve month high of $124.00. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 0.41.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Thursday, September 20th. The restaurant operator reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.10. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Darden Restaurants had a net margin of 7.84% and a return on equity of 30.32%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.99 earnings per share. As a group, equities research analysts predict that Darden Restaurants, Inc. will post 5.63 EPS for the current fiscal year.

DRI has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Darden Restaurants from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Stifel Nicolaus boosted their price objective on shares of Darden Restaurants from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 5th. Oppenheimer boosted their price objective on shares of Darden Restaurants from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Wednesday, September 5th. Robert W. Baird cut shares of Darden Restaurants from an “outperform” rating to a “neutral” rating in a report on Monday, September 10th. Finally, Goldman Sachs Group upgraded shares of Darden Restaurants from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $106.00 to $130.00 in a report on Tuesday, September 11th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $119.84.

In other news, COO David C. George sold 55,671 shares of the business’s stock in a transaction on Thursday, October 4th. The shares were 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 owns 95,236 shares of the company’s stock, valued at $10,308,344.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Eugene I. Lee, Jr. sold 60,688 shares of the business’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $112.63, for a total transaction of $6,835,289.44. Following the completion of the sale, the insider now directly owns 147,561 shares in the company, valued at approximately $16,619,795.43. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

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About Darden Restaurants

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

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