Vident Investment Advisory LLC lessened its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 7.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,184 shares of the restaurant operator’s stock after selling 504 shares during the quarter. Vident Investment Advisory LLC’s holdings in Darden Restaurants were worth $662,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Trilogy Capital Inc. purchased a new position in Darden Restaurants in the first quarter worth $140,000. TLP Group LLC boosted its stake in shares of Darden Restaurants by 761.3% during the first quarter. TLP Group LLC now owns 2,093 shares of the restaurant operator’s stock valued at $178,000 after acquiring an additional 1,850 shares during the last quarter. Ostrum Asset Management acquired a new stake in shares of Darden Restaurants during the first quarter valued at $180,000. Doyle Wealth Management acquired a new stake in shares of Darden Restaurants during the second quarter valued at $202,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Darden Restaurants during the second quarter valued at $203,000. Institutional investors and hedge funds own 89.50% of the company’s stock.

NYSE DRI traded up $2.71 during mid-day trading on Friday, reaching $106.76. 1,669,483 shares of the company’s stock traded hands, compared to its average volume of 1,525,153. The firm has a market cap of $13.74 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 2.11 and a beta of 0.17. 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, Inc. has a 1-year low of $78.83 and a 1-year high of $124.00.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, September 20th. The restaurant operator reported $1.34 EPS for the quarter, topping the consensus estimate of $1.24 by $0.10. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates 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 quarter last year, the firm earned $0.99 EPS. On average, analysts anticipate that Darden Restaurants, Inc. will post 5.63 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be given a $0.75 dividend. The ex-dividend date is Tuesday, October 9th. This represents a $3.00 annualized dividend and a dividend yield of 2.81%. Darden Restaurants’s payout ratio is 26.20%.

DRI has been the topic of a number of analyst reports. Argus increased their price objective on Darden Restaurants from $108.00 to $125.00 in a research note on Monday, June 25th. Barclays raised their price target on Darden Restaurants from $117.00 to $121.00 and gave the stock a “$112.15” rating in a research note on Wednesday, July 18th. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research note on Monday, July 16th. Citigroup raised their price target on Darden Restaurants from $100.00 to $128.00 and gave the stock a “buy” rating in a research note on Thursday, July 12th. Finally, ValuEngine raised Darden Restaurants from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $119.65.

In related news, COO David C. George sold 55,671 shares of the business’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $108.24, for a total transaction of $6,025,829.04. Following the completion of the transaction, the chief operating officer now owns 95,236 shares in the company, valued at approximately $10,308,344.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas J. Milanes sold 2,186 shares of the business’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $111.06, for a total value of $242,777.16. Following the transaction, the senior vice president now owns 792 shares of the company’s stock, valued at approximately $87,959.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,545 shares of company stock valued at $13,103,896. Insiders own 0.65% of the company’s stock.

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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