Rothschild & Co. Asset Management US Inc. trimmed its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 23.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 451,407 shares of the restaurant operator’s stock after selling 140,140 shares during the quarter. Darden Restaurants comprises about 0.8% of Rothschild & Co. Asset Management US Inc.’s portfolio, making the stock its 15th biggest holding. Rothschild & Co. Asset Management US Inc. owned approximately 0.35% of Darden Restaurants worth $45,475,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its position in shares of Darden Restaurants by 7.7% during the 2nd quarter. Louisiana State Employees Retirement System now owns 5,600 shares of the restaurant operator’s stock valued at $424,000 after purchasing an additional 400 shares in the last quarter. Parallel Advisors LLC increased its stake in Darden Restaurants by 228.5% in the 2nd quarter. Parallel Advisors LLC now owns 537 shares of the restaurant operator’s stock valued at $40,000 after purchasing an additional 955 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Darden Restaurants by 39.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 41,720 shares of the restaurant operator’s stock valued at $3,161,000 after purchasing an additional 11,799 shares in the last quarter. Belpointe Asset Management LLC purchased a new position in Darden Restaurants in the 2nd quarter valued at approximately $167,000. Finally, Country Club Trust Company n.a. purchased a new position in Darden Restaurants during the second quarter worth $3,487,000. Hedge funds and other institutional investors own 88.70% of the company’s stock.
In other news, Director Nana Mensah sold 1,000 shares of Darden Restaurants stock in a transaction dated Tuesday, October 27th. The stock was sold at an average price of $95.07, for a total value of $95,070.00. Following the transaction, the director now directly owns 180 shares in the company, valued at $17,112.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.
DRI stock traded down $1.86 on Tuesday, hitting $108.22. 24,568 shares of the company’s stock traded hands, compared to its average volume of 2,791,815. Darden Restaurants, Inc. has a 1-year low of $26.15 and a 1-year high of $125.96. The stock has a market cap of $14.33 billion, a price-to-earnings ratio of -73.88, a P/E/G ratio of 1.24 and a beta of 1.41. The stock has a fifty day moving average of $100.56 and a 200-day moving average of $84.63. The company has a current ratio of 0.63, a quick ratio of 0.51 and a debt-to-equity ratio of 0.39.
Darden Restaurants (NYSE:DRI) last released its earnings results on Thursday, September 24th. The restaurant operator reported $0.56 EPS for the quarter, beating the consensus estimate of $0.05 by $0.51. The business had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.55 billion. Darden Restaurants had a negative net margin of 2.60% and a positive return on equity of 12.45%. The business’s quarterly revenue was down 28.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.38 earnings per share. On average, equities research analysts anticipate that Darden Restaurants, Inc. will post 4 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 9th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Thursday, October 8th. Darden Restaurants’s dividend payout ratio (DPR) is 38.34%.
DRI has been the topic of a number of analyst reports. Morgan Stanley increased their price objective on Darden Restaurants from $71.00 to $112.00 and gave the company an “equal weight” rating in a research note on Friday, September 25th. Zacks Investment Research downgraded shares of Darden Restaurants from a “buy” rating to a “hold” rating and set a $95.00 target price for the company. in a research note on Thursday, September 24th. Royal Bank of Canada boosted their target price on shares of Darden Restaurants from $86.00 to $97.00 and gave the company an “outperform” rating in a research note on Monday, September 21st. Stephens reissued an “overweight” rating and issued a $98.00 target price on shares of Darden Restaurants in a research note on Thursday, August 27th. Finally, KeyCorp boosted their target price on shares of Darden Restaurants from $102.00 to $108.00 and gave the company an “overweight” rating in a research note on Friday, September 25th. Fifteen investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Darden Restaurants presently has an average rating of “Buy” and a consensus target price of $101.24.
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 31, 2020, it owned and operated approximately 1,804 restaurants, which included 868 under the Olive Garden, 522 under the LongHorn Steakhouse, 165 under the Cheddar's Scratch Kitchen, 81 under the Yard House, 60 under The Capital Grille, 44 under the Seasons 52, 41 under the Bahama Breeze, and 23 under the Eddie V's Prime Seafood brands.
Featured Story: Put Option Volume
Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.