PNC Financial Services Group Inc. reduced its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,093 shares of the restaurant operator’s stock after selling 2,865 shares during the period. PNC Financial Services Group Inc.’s holdings in Darden Restaurants were worth $4,903,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. acquired a new stake in Darden Restaurants during the 3rd quarter worth approximately $149,000. Harvest Fund Management Co. Ltd lifted its holdings in Darden Restaurants by 171.8% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 1,571 shares of the restaurant operator’s stock worth $175,000 after purchasing an additional 993 shares during the last quarter. Smithfield Trust Co. lifted its holdings in Darden Restaurants by 537.3% during the 3rd quarter. Smithfield Trust Co. now owns 1,625 shares of the restaurant operator’s stock worth $181,000 after purchasing an additional 1,370 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its holdings in Darden Restaurants by 92.9% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,640 shares of the restaurant operator’s stock worth $176,000 after purchasing an additional 790 shares during the last quarter. Finally, Dumont & Blake Investment Advisors LLC acquired a new stake in Darden Restaurants during the 3rd quarter worth approximately $203,000. 90.52% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE DRI opened at $107.75 on Wednesday. The firm has a market capitalization of $13.72 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 2.09 and a beta of 0.17. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 0.41. Darden Restaurants, Inc. has a fifty-two week low of $82.38 and a fifty-two week high of $124.00.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Thursday, September 20th. The restaurant operator reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. Darden Restaurants had a return on equity of 30.32% and a net margin of 7.84%. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.03 billion. During the same quarter in the previous year, the firm earned $0.99 EPS. Darden Restaurants’s revenue was up 6.5% on a year-over-year basis. As a group, equities research analysts forecast that Darden Restaurants, Inc. will post 5.62 EPS for the current fiscal year.

In other news, insider Eugene I. Lee, Jr. sold 60,688 shares of the business’s stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $112.63, for a total transaction of $6,835,289.44. Following the completion of the transaction, the insider now owns 147,561 shares of the company’s stock, valued at approximately $16,619,795.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO David C. George sold 55,671 shares of the business’s stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $108.24, for a total value of $6,025,829.04. Following the transaction, the chief operating officer now directly owns 95,236 shares of the company’s stock, valued at approximately $10,308,344.64. The disclosure for this sale can be found here. 0.65% of the stock is currently owned by insiders.

DRI has been the subject of several research reports. Maxim Group reissued a “hold” rating and set a $112.00 price target on shares of Darden Restaurants in a report on Thursday, September 20th. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a report on Monday, November 19th. BMO Capital Markets cut Darden Restaurants from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $105.00 to $96.00 in a report on Monday, September 24th. Stifel Nicolaus lifted their price objective on Darden Restaurants from $115.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, September 5th. Finally, Goldman Sachs Group raised Darden Restaurants from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $106.00 to $130.00 in a report on Tuesday, September 11th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $119.52.

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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 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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