Commonwealth of Pennsylvania Public School Empls Retrmt SYS Buys 3,214 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Darden Restaurants, Inc. (NYSE:DRIFree Report) by 15.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,304 shares of the restaurant operator’s stock after buying an additional 3,214 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Darden Restaurants were worth $3,481,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wambolt & Associates LLC grew its stake in Darden Restaurants by 3.7% in the third quarter. Wambolt & Associates LLC now owns 1,871 shares of the restaurant operator’s stock valued at $266,000 after acquiring an additional 67 shares during the period. Whittier Trust Co. grew its position in Darden Restaurants by 0.5% in the 3rd quarter. Whittier Trust Co. now owns 13,705 shares of the restaurant operator’s stock valued at $1,963,000 after purchasing an additional 71 shares during the period. Cetera Advisor Networks LLC increased its stake in Darden Restaurants by 2.6% during the 1st quarter. Cetera Advisor Networks LLC now owns 3,237 shares of the restaurant operator’s stock valued at $430,000 after purchasing an additional 83 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Darden Restaurants by 1.3% during the second quarter. Cetera Investment Advisers now owns 6,667 shares of the restaurant operator’s stock worth $1,114,000 after acquiring an additional 87 shares in 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. 94.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Evercore ISI lifted their target price on shares of Darden Restaurants from $160.00 to $170.00 and gave the stock an “in-line” rating in a research report on Tuesday, December 12th. Stephens restated an “overweight” rating and set a $170.00 target price on shares of Darden Restaurants in a research report on Monday, December 18th. KeyCorp increased their target price on Darden Restaurants from $175.00 to $177.00 and gave the company an “overweight” rating in a research note on Wednesday, December 13th. Oppenheimer lifted their price target on Darden Restaurants from $185.00 to $186.00 and gave the stock an “outperform” rating in a research note on Friday, January 5th. Finally, Wedbush increased their price objective on Darden Restaurants from $165.00 to $177.00 and gave the company an “outperform” rating in a research report on Monday, December 18th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.83.

Get Our Latest Stock Analysis on DRI

Insider Buying and Selling at Darden Restaurants

In other news, SVP Matthew R. Broad sold 6,831 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 19,141 shares in the company, valued at $3,124,959.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Matthew R. Broad sold 6,831 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $163.26, for a total transaction of $1,115,229.06. Following the completion of the sale, the senior vice president now owns 19,141 shares of the company’s stock, valued at approximately $3,124,959.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Melvin John Martin sold 6,967 shares of the business’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $165.12, for a total transaction of $1,150,391.04. Following the sale, the insider now directly 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. Over the last quarter, insiders sold 21,130 shares of company stock valued at $3,475,482. Corporate insiders own 0.85% of the company’s stock.

Darden Restaurants Stock Down 1.4 %

Shares of NYSE DRI opened at $165.37 on Tuesday. The company has a market cap of $19.75 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 2.38 and a beta of 1.27. Darden Restaurants, Inc. has a 52 week low of $133.36 and a 52 week high of $173.06. The company has a quick ratio of 0.23, a current ratio of 0.36 and a debt-to-equity ratio of 0.67. The firm’s fifty day moving average is $162.46 and its 200 day moving average is $155.01.

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

Darden Restaurants Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were paid a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date was Tuesday, January 9th. Darden Restaurants’s payout ratio is presently 63.36%.

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.

Further Reading

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

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