Trexquant Investment LP Invests $1.88 Million in Darden Restaurants, Inc. (DRI) Stock
Trexquant Investment LP bought a new position in shares of Darden Restaurants, Inc. (NYSE:DRI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 23,815 shares of the restaurant operator’s stock, valued at approximately $1,876,000. Darden Restaurants comprises approximately 0.5% of Trexquant Investment LP’s investment portfolio, making the stock its 20th largest position.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. M&R Capital Management Inc. bought a new stake in Darden Restaurants during the second quarter worth $108,000. D.A. Davidson & CO. lifted its stake in shares of Darden Restaurants by 1.7% in the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock valued at $114,000 after acquiring an additional 21 shares during the last quarter. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Darden Restaurants in the 3rd quarter valued at $115,000. Huntington National Bank lifted its stake in shares of Darden Restaurants by 4.6% in the 2nd quarter. Huntington National Bank now owns 1,578 shares of the restaurant operator’s stock valued at $143,000 after acquiring an additional 70 shares during the last quarter. Finally, First National Trust Co. bought a new position in shares of Darden Restaurants in the 2nd quarter valued at $217,000. Hedge funds and other institutional investors own 90.36% of the company’s stock.
Shares of Darden Restaurants, Inc. (DRI) opened at $80.24 on Monday. The firm has a market capitalization of $9,920.00, a price-to-earnings ratio of 19.43, a P/E/G ratio of 1.76 and a beta of 0.22. Darden Restaurants, Inc. has a 1-year low of $71.01 and a 1-year high of $95.22. The company has a quick ratio of 0.24, a current ratio of 0.38 and a debt-to-equity ratio of 0.45.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.99. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. Darden Restaurants’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. equities analysts anticipate that Darden Restaurants, Inc. will post 4.43 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a dividend of $0.63 per share. The ex-dividend date was Friday, October 6th. This represents a $2.52 dividend on an annualized basis and a yield of 3.14%. Darden Restaurants’s payout ratio is currently 64.62%.
A number of research analysts have recently commented on the company. Royal Bank Of Canada dropped their price target on Darden Restaurants from $96.00 to $90.00 and set a “sector perform” rating for the company in a research note on Wednesday, September 27th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $100.00 price target on shares of Darden Restaurants in a research note on Wednesday, September 20th. BMO Capital Markets set a $80.00 price target on Darden Restaurants and gave the company a “hold” rating in a research note on Thursday, October 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $82.00 price target (down from $90.00) on shares of Darden Restaurants in a research note on Wednesday, September 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $88.00 price target (down from $93.00) on shares of Darden Restaurants in a research note on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $87.59.
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Darden Restaurants Company Profile
Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
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