Banque Cantonale Vaudoise Reduces Position in Darden Restaurants, Inc. (NYSE:DRI)

Banque Cantonale Vaudoise cut its holdings in shares of Darden Restaurants, Inc. (NYSE:DRIFree Report) by 5.8% during the third quarter, HoldingsChannel.com reports. The firm owned 2,173 shares of the restaurant operator’s stock after selling 133 shares during the period. Banque Cantonale Vaudoise’s holdings in Darden Restaurants were worth $311,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Cetera Advisor Networks LLC increased its position in shares of Darden Restaurants by 2.6% in the 1st quarter. Cetera Advisor Networks LLC now owns 3,237 shares of the restaurant operator’s stock valued at $430,000 after acquiring an additional 83 shares during the period. D.A. Davidson & CO. increased its position in shares of Darden Restaurants by 25.1% in the 1st quarter. D.A. Davidson & CO. now owns 2,001 shares of the restaurant operator’s stock valued at $266,000 after acquiring an additional 401 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Darden Restaurants in the 1st quarter valued at $150,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Darden Restaurants by 4.9% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,090 shares of the restaurant operator’s stock valued at $2,272,000 after acquiring an additional 800 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Darden Restaurants by 17.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 776,082 shares of the restaurant operator’s stock valued at $103,176,000 after acquiring an additional 113,548 shares during the period. 94.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DRI shares. Wedbush upped their target price on Darden Restaurants from $165.00 to $177.00 and gave the company an “outperform” rating in a research report on Monday, December 18th. Stephens reaffirmed an “overweight” rating and issued a $170.00 price target on shares of Darden Restaurants in a report on Monday, December 18th. Deutsche Bank Aktiengesellschaft started coverage on shares of Darden Restaurants in a report on Thursday, October 19th. They issued a “buy” rating and a $159.00 price target on the stock. KeyCorp upped their price target on shares of Darden Restaurants from $175.00 to $177.00 and gave the company an “overweight” rating in a report on Wednesday, December 13th. Finally, StockNews.com lowered shares of Darden Restaurants from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.83.

Get Our Latest Research Report on Darden Restaurants

Darden Restaurants Trading Up 1.3 %

Shares of Darden Restaurants stock opened at $168.18 on Friday. The firm has a market capitalization of $20.08 billion, a PE ratio of 20.34, a P/E/G ratio of 2.35 and a beta of 1.27. Darden Restaurants, Inc. has a twelve month low of $133.36 and a twelve month high of $173.06. The firm’s 50-day moving average price is $162.21 and its 200 day moving average price is $155.25. The company has a current ratio of 0.36, a quick ratio of 0.23 and a debt-to-equity ratio of 0.67.

Darden Restaurants (NYSE:DRIGet Free Report) last issued its quarterly earnings results on Friday, December 15th. The restaurant operator reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.10. The firm had revenue of $2.73 billion for the quarter, compared to analyst estimates of $2.74 billion. Darden Restaurants had a net margin of 9.16% and a return on equity of 49.39%. Darden Restaurants’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $1.52 EPS. On average, sell-side analysts predict that Darden Restaurants, Inc. will post 8.86 EPS for the current fiscal year.

Darden Restaurants Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were issued a $1.31 dividend. The ex-dividend date was Tuesday, January 9th. This represents a $5.24 dividend on an annualized basis and a yield of 3.12%. Darden Restaurants’s payout ratio is 63.36%.

Insider Buying and Selling at Darden Restaurants

In other Darden Restaurants news, insider Melvin John Martin sold 6,967 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $165.12, for a total value of $1,150,391.04. Following the completion of the sale, the insider now owns 17,159 shares in the company, valued at approximately $2,833,294.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Darden Restaurants news, SVP Douglas J. Milanes sold 3,496 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $166.34, for a total value of $581,524.64. Following the completion of the sale, the senior vice president now owns 5,458 shares in the company, valued at approximately $907,883.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Melvin John Martin sold 6,967 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $165.12, for a total transaction of $1,150,391.04. Following the sale, the insider now owns 17,159 shares of the company’s stock, valued at approximately $2,833,294.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,130 shares of company stock worth $3,475,482. Insiders own 0.85% of the company’s stock.

Darden Restaurants Profile

(Free Report)

Darden Restaurants, Inc, together with its subsidiaries, owns and operates full-service restaurants in the United States and Canada. It operates under Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V's Prime Seafood, and Capital Burger brand names.

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

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