Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Darden Restaurants, Inc. (NYSE:DRI) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,959 shares of the restaurant operator’s stock, valued at approximately $1,387,000.

Several other hedge funds also recently modified their holdings of DRI. HL Financial Services LLC acquired a new position in shares of Darden Restaurants during the 1st quarter worth approximately $244,000. Hennessy Advisors Inc. increased its holdings in shares of Darden Restaurants by 17.1% during the 1st quarter. Hennessy Advisors Inc. now owns 32,200 shares of the restaurant operator’s stock worth $2,745,000 after acquiring an additional 4,700 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Darden Restaurants by 0.3% during the 1st quarter. Wells Fargo & Company MN now owns 3,466,121 shares of the restaurant operator’s stock worth $295,487,000 after acquiring an additional 9,044 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Darden Restaurants by 69.4% during the 1st quarter. Daiwa Securities Group Inc. now owns 6,132 shares of the restaurant operator’s stock worth $523,000 after acquiring an additional 2,512 shares during the last quarter. Finally, Fulton Bank N.A. increased its holdings in shares of Darden Restaurants by 49.8% during the 1st quarter. Fulton Bank N.A. now owns 6,944 shares of the restaurant operator’s stock worth $592,000 after acquiring an additional 2,308 shares during the last quarter. Hedge funds and other institutional investors own 88.96% of the company’s stock.

NYSE:DRI opened at $113.85 on Monday. The firm has a market cap of $13.52 billion, a PE ratio of 23.67, a P/E/G ratio of 2.13 and a beta of 0.18. The company has a quick ratio of 0.25, a current ratio of 0.40 and a debt-to-equity ratio of 0.42. Darden Restaurants, Inc. has a fifty-two week low of $76.27 and a fifty-two week high of $114.06.

Darden Restaurants (NYSE:DRI) last released its earnings results on Thursday, June 21st. The restaurant operator reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. The firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Darden Restaurants had a return on equity of 29.02% and a net margin of 7.38%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. research analysts expect that Darden Restaurants, Inc. will post 5.5 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 1st. Stockholders of record on Tuesday, July 10th were given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.64%. This is an increase from Darden Restaurants’s previous quarterly dividend of $0.63. The ex-dividend date was Monday, July 9th. Darden Restaurants’s dividend payout ratio is presently 52.39%.

In other news, SVP Douglas J. Milanes sold 2,186 shares of the company’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $111.06, for a total transaction of $242,777.16. Following the completion of the sale, the senior vice president now directly owns 792 shares in the company, valued at approximately $87,959.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Eugene I. Lee, Jr. sold 60,973 shares of the company’s stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $107.34, for a total value of $6,544,841.82. Following the sale, the insider now owns 162,586 shares of the company’s stock, valued at $17,451,981.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 182,236 shares of company stock valued at $19,609,826. Corporate insiders own 0.65% of the company’s stock.

Several analysts recently issued reports on the company. Piper Jaffray Companies restated an “overweight” rating and issued a $120.00 price target on shares of Darden Restaurants in a research note on Monday, July 23rd. Barclays boosted their price target on Darden Restaurants from $117.00 to $121.00 and gave the company a “$112.15” rating in a research note on Wednesday, July 18th. Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a research note on Monday, July 16th. Maxim Group downgraded Darden Restaurants from a “buy” rating to a “hold” rating and set a $112.00 price target for the company. in a research note on Monday, July 16th. They noted that the move was a valuation call. Finally, Citigroup boosted their price target on Darden Restaurants from $100.00 to $128.00 and gave the company a “buy” rating in a research note on Thursday, July 12th. Nine equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $110.77.

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

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