Headlands Technologies LLC Makes New Investment in Darden Restaurants, Inc. (NYSE:DRI)

Headlands Technologies LLC acquired a new stake in shares of Darden Restaurants, Inc. (NYSE:DRIFree Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 771 shares of the restaurant operator’s stock, valued at approximately $110,000.

A number of other large investors have also added to or reduced their stakes in the stock. Wambolt & Associates LLC raised its stake in Darden Restaurants by 3.7% during the third quarter. Wambolt & Associates LLC now owns 1,871 shares of the restaurant operator’s stock valued at $266,000 after buying an additional 67 shares during the last quarter. Whittier Trust Co. raised its stake in shares of Darden Restaurants by 0.5% in the third quarter. Whittier Trust Co. now owns 13,705 shares of the restaurant operator’s stock worth $1,963,000 after purchasing an additional 71 shares during the last quarter. Cetera Advisor Networks LLC raised its stake in shares of Darden Restaurants by 2.6% in the first quarter. Cetera Advisor Networks LLC now owns 3,237 shares of the restaurant operator’s stock worth $430,000 after purchasing an additional 83 shares during the last quarter. Cetera Investment Advisers raised its stake in shares of Darden Restaurants by 1.3% in the second quarter. Cetera Investment Advisers now owns 6,667 shares of the restaurant operator’s stock worth $1,114,000 after purchasing an additional 87 shares during the last quarter. Finally, Apollon Wealth Management LLC raised its stake in shares of Darden Restaurants by 5.9% in the first quarter. Apollon Wealth Management LLC now owns 1,572 shares of the restaurant operator’s stock worth $244,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 94.53% of the company’s stock.

Darden Restaurants Price Performance

NYSE:DRI opened at $167.66 on Monday. The company has a current ratio of 0.36, a quick ratio of 0.23 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $20.02 billion, a P/E ratio of 20.27, a P/E/G ratio of 2.38 and a beta of 1.27. Darden Restaurants, Inc. has a 12 month low of $133.36 and a 12 month high of $173.06. The business’s 50-day moving average is $162.37 and its 200 day moving average is $155.04.

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

Darden Restaurants Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were given a dividend of $1.31 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $5.24 dividend on an annualized basis and a yield of 3.13%. Darden Restaurants’s dividend payout ratio (DPR) is presently 63.36%.

Insider Buying and Selling at Darden Restaurants

In other Darden Restaurants news, SVP Douglas J. Milanes sold 3,496 shares of the company’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $166.34, for a total transaction of $581,524.64. Following the sale, the senior vice president now directly owns 5,458 shares in the company, valued at $907,883.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Douglas J. Milanes sold 3,496 shares of the stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $166.34, for a total value of $581,524.64. Following the sale, the senior vice president now directly owns 5,458 shares in the company, valued at $907,883.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Matthew R. Broad sold 6,831 shares of the stock in a transaction that occurred on Wednesday, January 31st. The stock was sold at an average price of $163.26, for a total value of $1,115,229.06. Following the completion of the sale, the senior vice president now owns 19,141 shares in the company, valued at $3,124,959.66. The disclosure for this sale can be found here. Insiders have sold a total of 21,130 shares of company stock worth $3,475,482 over the last ninety days. Company insiders own 0.85% of the company’s stock.

Wall Street Analyst Weigh In

DRI has been the subject of several recent analyst reports. Raymond James boosted their price target on Darden Restaurants from $155.00 to $175.00 and gave the stock an “outperform” rating in a research note on Monday, December 18th. StockNews.com cut Darden Restaurants from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Deutsche Bank Aktiengesellschaft assumed coverage on Darden Restaurants in a research report on Thursday, October 19th. They set a “buy” rating and a $159.00 price objective for the company. Barclays upped their price objective on Darden Restaurants from $180.00 to $187.00 and gave the company an “overweight” rating in a research report on Wednesday, January 3rd. Finally, KeyCorp upped their price objective on Darden Restaurants from $175.00 to $177.00 and gave the company an “overweight” rating in a research report on Wednesday, December 13th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Darden Restaurants presently has an average rating of “Moderate Buy” and an average price target of $174.83.

View Our Latest Stock Analysis on DRI

Darden Restaurants Company 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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