SG Americas Securities LLC Trims Position in Darden Restaurants, Inc. (NYSE:DRI)

SG Americas Securities LLC trimmed its position in Darden Restaurants, Inc. (NYSE:DRIGet Rating) by 36.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,496 shares of the restaurant operator’s stock after selling 3,152 shares during the period. SG Americas Securities LLC’s holdings in Darden Restaurants were worth $694,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Darden Restaurants by 2.6% in the first quarter. Vanguard Group Inc. now owns 14,373,923 shares of the restaurant operator’s stock worth $1,911,012,000 after purchasing an additional 362,658 shares during the period. Wellington Management Group LLP grew its stake in Darden Restaurants by 33.5% in the first quarter. Wellington Management Group LLP now owns 1,572,849 shares of the restaurant operator’s stock worth $209,110,000 after purchasing an additional 394,786 shares during the period. Invesco Ltd. grew its stake in Darden Restaurants by 18.9% in the first quarter. Invesco Ltd. now owns 1,512,345 shares of the restaurant operator’s stock worth $201,066,000 after purchasing an additional 240,195 shares during the period. Amundi grew its stake in Darden Restaurants by 10.5% in the second quarter. Amundi now owns 1,101,748 shares of the restaurant operator’s stock worth $126,988,000 after purchasing an additional 104,547 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in Darden Restaurants by 11.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 829,094 shares of the restaurant operator’s stock worth $104,738,000 after purchasing an additional 83,335 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Darden Restaurants Stock Performance

Shares of DRI opened at $147.38 on Friday. The company has a quick ratio of 0.31, a current ratio of 0.47 and a debt-to-equity ratio of 0.44. The business has a 50-day simple moving average of $144.18 and a two-hundred day simple moving average of $134.01. The stock has a market cap of $17.94 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 1.95 and a beta of 1.21. Darden Restaurants, Inc. has a 52 week low of $110.96 and a 52 week high of $152.08.

Darden Restaurants Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be given a $1.21 dividend. This represents a $4.84 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Monday, January 9th. Darden Restaurants’s payout ratio is 66.76%.

Insiders Place Their Bets

In other Darden Restaurants news, insider Daniel J. Kiernan sold 10,290 shares of the company’s stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $140.53, for a total value of $1,446,053.70. Following the completion of the sale, the insider now owns 16,043 shares in the company, valued at $2,254,522.79. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Douglas J. Milanes sold 2,229 shares of the stock in a transaction dated Tuesday, January 10th. The stock was sold at an average price of $150.00, for a total transaction of $334,350.00. Following the completion of the sale, the senior vice president now owns 5,328 shares in the company, valued at $799,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel J. Kiernan sold 10,290 shares of the stock in a transaction dated Friday, October 28th. The stock was sold at an average price of $140.53, for a total value of $1,446,053.70. Following the sale, the insider now owns 16,043 shares of the company’s stock, valued at approximately $2,254,522.79. The disclosure for this sale can be found here. Insiders sold a total of 23,975 shares of company stock worth $3,439,234 over the last quarter. 0.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DRI. Wedbush raised Darden Restaurants from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $134.00 to $160.00 in a research note on Wednesday, December 14th. Stephens increased their target price on Darden Restaurants from $140.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, December 19th. StockNews.com raised Darden Restaurants from a “hold” rating to a “buy” rating in a research note on Thursday, October 20th. Raymond James increased their target price on Darden Restaurants from $136.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, December 2nd. Finally, Cowen increased their target price on Darden Restaurants from $140.00 to $155.00 in a research note on Wednesday, December 7th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $151.91.

Darden Restaurants Company Profile

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Darden Restaurants, Inc is a full-service restaurant company, which engages in the provision of restaurant services. It operates through the following segments: Olive Garden, LongHorn Steakhouse, Fine Dining, and Other Business. The Olive Garden segment is the largest full-service dining Italian restaurant operator.

Further Reading

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

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