Darden Restaurants (DRI) Shares Bought by OLD Mutual Customised Solutions Proprietary Ltd.

OLD Mutual Customised Solutions Proprietary Ltd. lifted its position in Darden Restaurants (NYSE:DRI) by 48.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,400 shares of the restaurant operator’s stock after purchasing an additional 2,400 shares during the quarter. OLD Mutual Customised Solutions Proprietary Ltd.’s holdings in Darden Restaurants were worth $711,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Cerebellum GP LLC purchased a new position in shares of Darden Restaurants in the fourth quarter worth about $126,000. Grove Bank & Trust raised its stake in shares of Darden Restaurants by 155.6% in the third quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock worth $145,000 after purchasing an additional 1,120 shares during the last quarter. Cetera Advisor Networks LLC purchased a new position in shares of Darden Restaurants in the fourth quarter worth about $200,000. Texas Yale Capital Corp. purchased a new position in shares of Darden Restaurants in the fourth quarter worth about $205,000. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Darden Restaurants in the third quarter worth about $208,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

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Several brokerages have recently issued reports on DRI. BMO Capital Markets reduced their price objective on Darden Restaurants from $99.00 to $97.00 and set a “market perform” rating for the company in a research note on Thursday. SunTrust Banks restated a “hold” rating on shares of Darden Restaurants in a research note on Thursday, December 21st. Zacks Investment Research cut Darden Restaurants from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. Wells Fargo reiterated a “market perform” rating and set a $99.00 price target (up from $92.00) on shares of Darden Restaurants in a research report on Tuesday, January 9th. Finally, Barclays reiterated an “overweight” rating and set a $116.00 price target (up from $108.00) on shares of Darden Restaurants in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $97.04.

Shares of Darden Restaurants (DRI) opened at $84.25 on Monday. The company has a market capitalization of $10,407.72, a P/E ratio of 18.27, a PEG ratio of 1.60 and a beta of 0.22. Darden Restaurants has a 12-month low of $75.20 and a 12-month high of $100.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.39 and a quick ratio of 0.25.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, March 22nd. The restaurant operator reported $1.71 EPS for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.07. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Darden Restaurants had a return on equity of 28.12% and a net margin of 6.92%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.32 earnings per share. sell-side analysts anticipate that Darden Restaurants will post 4.77 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Monday, April 9th. Darden Restaurants’s dividend payout ratio is presently 58.47%.

In other news, SVP Douglas J. Milanes sold 4,300 shares of Darden Restaurants stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $97.05, for a total value of $417,315.00. Following the sale, the senior vice president now directly owns 7,513 shares of the company’s stock, valued at $729,136.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ricardo Cardenas sold 10,783 shares of Darden Restaurants stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $97.17, for a total value of $1,047,784.11. Following the completion of the sale, the chief financial officer now directly owns 20,046 shares in the company, valued at $1,947,869.82. The disclosure for this sale can be found here. Insiders sold 74,866 shares of company stock worth $7,252,094 over the last ninety days. Corporate insiders own 0.63% of the company’s stock.

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About Darden Restaurants

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of June 27, 2017, it owned and operated approximately 1,700 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, and Eddie V's brands.

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

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