Dynamic Capital Management Ltd bought a new position in shares of Darden Restaurants, Inc. (NYSE:DRI) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,180 shares of the restaurant operator’s stock, valued at approximately $2,451,000. Darden Restaurants comprises about 8.9% of Dynamic Capital Management Ltd’s holdings, making the stock its largest position.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sageworth Trust Co bought a new stake in Darden Restaurants in the first quarter valued at $25,000. NuWave Investment Management LLC increased its stake in Darden Restaurants by 3,628.6% in the first quarter. NuWave Investment Management LLC now owns 261 shares of the restaurant operator’s stock valued at $32,000 after purchasing an additional 254 shares in the last quarter. Penserra Capital Management LLC bought a new stake in Darden Restaurants in the first quarter valued at $40,000. Oregon Public Employees Retirement Fund increased its stake in Darden Restaurants by 14,173.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,131,508 shares of the restaurant operator’s stock valued at $41,000 after purchasing an additional 4,102,562 shares in the last quarter. Finally, Gables Capital Management Inc. bought a new stake in Darden Restaurants in the first quarter valued at $50,000. 88.86% of the stock is owned by institutional investors and hedge funds.
In related news, SVP John W. Madonna sold 330 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $118.76, for a total transaction of $39,190.80. Following the transaction, the senior vice president now directly owns 1,680 shares in the company, valued at $199,516.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Eugene I. Lee, Jr. sold 73,152 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $118.61, for a total transaction of $8,676,558.72. Following the transaction, the insider now owns 190,025 shares in the company, valued at $22,538,865.25. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.
Several equities research analysts have weighed in on DRI shares. Citigroup lifted their price target on shares of Darden Restaurants from $120.00 to $146.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Gordon Haskett raised shares of Darden Restaurants from an “underperform” rating to a “hold” rating in a research note on Thursday, March 21st. Wells Fargo & Co decreased their price target on shares of Darden Restaurants from $120.00 to $117.00 and set a “market perform” rating for the company in a research note on Tuesday. Maxim Group reissued a “buy” rating and set a $128.00 target price on shares of Darden Restaurants in a research report on Tuesday, March 19th. Finally, Loop Capital boosted their target price on shares of Darden Restaurants to $140.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the stock. Darden Restaurants currently has a consensus rating of “Buy” and a consensus price target of $129.96.
NYSE:DRI opened at $117.81 on Thursday. The company has a quick ratio of 0.33, a current ratio of 0.48 and a debt-to-equity ratio of 0.40. The stock has a market cap of $14.64 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 1.80 and a beta of 0.30. Darden Restaurants, Inc. has a one year low of $91.34 and a one year high of $125.33.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Thursday, March 21st. The restaurant operator reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.05. Darden Restaurants had a net margin of 8.08% and a return on equity of 30.28%. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the previous year, the company earned $1.71 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities analysts predict that Darden Restaurants, Inc. will post 5.78 earnings per share for the current fiscal year.
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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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