Darden Restaurants, Inc. (NYSE:DRI) Shares Bought by Raymond James & Associates

Raymond James & Associates grew its position in Darden Restaurants, Inc. (NYSE:DRI) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 134,897 shares of the restaurant operator’s stock after purchasing an additional 5,368 shares during the quarter. Raymond James & Associates owned approximately 0.11% of Darden Restaurants worth $16,386,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc lifted its holdings in shares of Darden Restaurants by 5.2% in the third quarter. Vanguard Group Inc now owns 13,687,194 shares of the restaurant operator’s stock worth $1,521,879,000 after buying an additional 673,563 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Darden Restaurants by 14,173.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,131,508 shares of the restaurant operator’s stock worth $41,000 after buying an additional 4,102,562 shares in the last quarter. Newport Trust Co lifted its holdings in shares of Darden Restaurants by 0.4% in the fourth quarter. Newport Trust Co now owns 2,619,601 shares of the restaurant operator’s stock worth $261,593,000 after buying an additional 10,698 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Darden Restaurants by 1.9% in the fourth quarter. Northern Trust Corp now owns 1,925,968 shares of the restaurant operator’s stock worth $192,328,000 after buying an additional 35,556 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Darden Restaurants by 11.6% in the fourth quarter. Geode Capital Management LLC now owns 1,825,671 shares of the restaurant operator’s stock worth $182,031,000 after buying an additional 189,466 shares in the last quarter. 88.86% of the stock is currently owned by institutional investors.

In related news, SVP John W. Madonna sold 330 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $118.76, for a total transaction of $39,190.80. Following the sale, the senior vice president now owns 1,680 shares in the company, valued at approximately $199,516.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eugene I. Lee, Jr. sold 73,152 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $118.61, for a total value of $8,676,558.72. Following the completion of the transaction, the insider now directly owns 190,025 shares in the company, valued at approximately $22,538,865.25. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.

DRI stock traded up $0.78 during midday trading on Friday, hitting $119.68. The company’s stock had a trading volume of 853,511 shares, compared to its average volume of 1,272,310. Darden Restaurants, Inc. has a 12 month low of $91.34 and a 12 month high of $125.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.48 and a quick ratio of 0.33. The company has a market capitalization of $14.49 billion, a price-to-earnings ratio of 24.88, a PEG ratio of 1.78 and a beta of 0.30.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, March 21st. The restaurant operator reported $1.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.75 by $0.05. Darden Restaurants had a return on equity of 30.28% and a net margin of 8.08%. The business had revenue of $2.25 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the firm earned $1.71 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts anticipate that Darden Restaurants, Inc. will post 5.78 EPS for the current fiscal year.

A number of equities research analysts recently weighed in on the stock. Wedbush raised their target price on shares of Darden Restaurants from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 23rd. Zacks Investment Research downgraded shares of Darden Restaurants from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Wells Fargo & Co lowered their target price on shares of Darden Restaurants from $120.00 to $117.00 and set a “market perform” rating on the stock in a research note on Tuesday. UBS Group started coverage on Darden Restaurants in a research report on Friday, April 26th. They issued a “buy” rating and a $133.00 price target for the company. Finally, Evercore ISI assumed coverage on Darden Restaurants in a research report on Tuesday. They issued an “outperform” rating and a $135.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have assigned a buy rating to the company. Darden Restaurants currently has an average rating of “Buy” and an average target price of $130.12.

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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.

Further Reading: Equal Weight Rating

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

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