Captrust Financial Advisors Acquires 18,386 Shares of Darden Restaurants, Inc. (NYSE:DRI)
Captrust Financial Advisors lifted its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 1,178.6% during the fourth quarter, HoldingsChannel reports. The firm owned 19,946 shares of the restaurant operator’s stock after purchasing an additional 18,386 shares during the period. Captrust Financial Advisors’ holdings in Darden Restaurants were worth $2,239,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Allred Capital Management LLC bought a new position in shares of Darden Restaurants in the fourth quarter worth about $36,000. Duncker Streett & Co. Inc. bought a new position in shares of Darden Restaurants in the fourth quarter worth about $37,000. Samalin Investment Counsel LLC bought a new position in shares of Darden Restaurants in the fourth quarter worth about $46,000. Penserra Capital Management LLC increased its stake in shares of Darden Restaurants by 54.3% in the third quarter. Penserra Capital Management LLC now owns 605 shares of the restaurant operator’s stock worth $71,000 after purchasing an additional 213 shares during the period. Finally, NEXT Financial Group Inc increased its stake in shares of Darden Restaurants by 21.1% in the fourth quarter. NEXT Financial Group Inc now owns 1,096 shares of the restaurant operator’s stock worth $119,000 after purchasing an additional 191 shares during the period. Institutional investors and hedge funds own 89.12% of the company’s stock.
A number of research firms have recently commented on DRI. Evercore ISI reiterated a “buy” rating and issued a $135.00 price objective on shares of Darden Restaurants in a research note on Sunday, December 22nd. Stephens lowered their price target on Darden Restaurants from $125.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Friday, December 20th. Goldman Sachs Group upgraded Darden Restaurants from a “sell” rating to a “neutral” rating and lowered their price target for the company from $114.00 to $50.00 in a research note on Friday, March 20th. Argus restated a “hold” rating on shares of Darden Restaurants in a research note on Friday, December 27th. Finally, Wedbush lowered their price target on Darden Restaurants from $120.00 to $76.00 and set a “neutral” rating on the stock in a research note on Thursday, March 12th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. Darden Restaurants presently has an average rating of “Hold” and a consensus target price of $93.39.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Thursday, March 19th. The restaurant operator reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.02. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. Darden Restaurants had a return on equity of 32.51% and a net margin of 7.25%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.80 earnings per share. On average, analysts predict that Darden Restaurants, Inc. will post 3.54 earnings per share for the current year.
In other news, SVP Douglas J. Milanes sold 791 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $113.32, for a total value of $89,636.12. Following the transaction, the senior vice president now directly owns 6,002 shares of the company’s stock, valued at approximately $680,146.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles M. Sonsteby bought 1,500 shares of Darden Restaurants stock in a transaction dated Tuesday, December 31st. The stock was acquired at an average cost of $112.26 per share, for a total transaction of $168,390.00. 0.47% of the stock is currently owned by insiders.
Darden Restaurants Profile
Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 27, 2018, it owned and operated approximately 1,746 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Bahama Breeze, Seasons 52, and Eddie V's brands.
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