Victory Capital Management Inc. Increases Stake in Darden Restaurants, Inc. (DRI)

Victory Capital Management Inc. grew its position in Darden Restaurants, Inc. (NYSE:DRI) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,624,504 shares of the restaurant operator’s stock after purchasing an additional 19,615 shares during the period. Victory Capital Management Inc. owned approximately 1.32% of Darden Restaurants worth $162,223,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Hartford Investment Management Co. grew its holdings in Darden Restaurants by 0.6% during the fourth quarter. Hartford Investment Management Co. now owns 20,754 shares of the restaurant operator’s stock worth $2,072,000 after acquiring an additional 117 shares during the period. Daiwa Securities Group Inc. grew its holdings in Darden Restaurants by 2.3% during the fourth quarter. Daiwa Securities Group Inc. now owns 6,592 shares of the restaurant operator’s stock worth $658,000 after acquiring an additional 150 shares during the period. Simmons Bank grew its holdings in Darden Restaurants by 1.2% during the fourth quarter. Simmons Bank now owns 13,240 shares of the restaurant operator’s stock worth $1,322,000 after acquiring an additional 157 shares during the period. Fulton Bank N.A. grew its holdings in Darden Restaurants by 2.2% during the fourth quarter. Fulton Bank N.A. now owns 8,236 shares of the restaurant operator’s stock worth $823,000 after acquiring an additional 179 shares during the period. Finally, Contravisory Investment Management Inc. grew its holdings in Darden Restaurants by 7.0% during the fourth quarter. Contravisory Investment Management Inc. now owns 2,932 shares of the restaurant operator’s stock worth $293,000 after acquiring an additional 192 shares during the period. 93.49% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently commented on DRI shares. Wells Fargo & Co raised their target price on Darden Restaurants from $108.00 to $109.00 and gave the stock a “market perform” rating in a report on Thursday, December 6th. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $125.00 target price on the stock in a report on Monday, November 19th. Robert W. Baird dropped their target price on Darden Restaurants from $120.00 to $115.00 and set a “neutral” rating on the stock in a report on Wednesday, December 19th. ValuEngine lowered Darden Restaurants from a “buy” rating to a “hold” rating in a report on Tuesday, December 11th. Finally, Barclays dropped their target price on Darden Restaurants from $133.00 to $129.00 and set an “overweight” rating on the stock in a report on Thursday, November 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $121.35.

In other news, Director William S. Simon sold 1,565 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $104.90, for a total value of $164,168.50. Following the transaction, the director now owns 10,248 shares in the company, valued at $1,075,015.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.65% of the company’s stock.

Shares of NYSE DRI traded up $0.94 during midday trading on Tuesday, hitting $111.24. The stock had a trading volume of 236,382 shares, compared to its average volume of 1,262,710. The company has a market cap of $13.51 billion, a PE ratio of 23.13, a price-to-earnings-growth ratio of 1.92 and a beta of 0.29. Darden Restaurants, Inc. has a 1 year low of $82.38 and a 1 year high of $124.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.41 and a quick ratio of 0.25.

Darden Restaurants (NYSE:DRI) last released its earnings results on Tuesday, December 18th. The restaurant operator reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.01. The business had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.98 billion. Darden Restaurants had a return on equity of 30.48% and a net margin of 8.12%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share. On average, equities research analysts anticipate that Darden Restaurants, Inc. will post 5.69 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Thursday, January 10th were given a $0.75 dividend. The ex-dividend date of this dividend was Wednesday, January 9th. This represents a $3.00 annualized dividend and a dividend yield of 2.70%. Darden Restaurants’s dividend payout ratio (DPR) is presently 13.10%.

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

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