Robeco Institutional Asset Management B.V. grew its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 0.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,238,763 shares of the restaurant operator’s stock after buying an additional 9,607 shares during the period. Robeco Institutional Asset Management B.V. owned 1.00% of Darden Restaurants worth $137,741,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in DRI. Pinnacle Financial Partners Inc. purchased a new stake in shares of Darden Restaurants in the third quarter valued at $222,000. Harvest Fund Management Co. Ltd grew its position in shares of Darden Restaurants by 171.8% in the third quarter. Harvest Fund Management Co. Ltd now owns 1,571 shares of the restaurant operator’s stock valued at $175,000 after purchasing an additional 993 shares during the period. Acadian Asset Management LLC grew its position in shares of Darden Restaurants by 144.1% in the third quarter. Acadian Asset Management LLC now owns 429,977 shares of the restaurant operator’s stock valued at $47,805,000 after purchasing an additional 253,850 shares during the period. Inverness Counsel LLC NY grew its position in shares of Darden Restaurants by 10,013.9% in the third quarter. Inverness Counsel LLC NY now owns 240,712 shares of the restaurant operator’s stock valued at $26,765,000 after purchasing an additional 238,332 shares during the period. Finally, Greenleaf Trust purchased a new stake in shares of Darden Restaurants in the third quarter valued at $206,000. 89.43% of the stock is owned by institutional investors.
In other Darden Restaurants news, COO David C. George sold 55,671 shares of the business’s stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $108.24, for a total transaction of $6,025,829.04. Following the transaction, the chief operating officer now owns 95,236 shares in the company, valued at $10,308,344.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Eugene I. Lee, Jr. sold 60,688 shares of the business’s stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $112.63, for a total value of $6,835,289.44. Following the transaction, the insider now owns 147,561 shares in the company, valued at approximately $16,619,795.43. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.
Shares of DRI opened at $112.44 on Friday. The stock has a market cap of $13.80 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 2.12 and a beta of 0.17. Darden Restaurants, Inc. has a 12 month low of $79.18 and a 12 month high of $124.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.26 and a current ratio of 0.41.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, September 20th. The restaurant operator reported $1.34 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.10. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Darden Restaurants had a return on equity of 30.32% and a net margin of 7.84%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.99 earnings per share. As a group, equities research analysts predict that Darden Restaurants, Inc. will post 5.62 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th were paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date was Tuesday, October 9th. Darden Restaurants’s dividend payout ratio is presently 26.20%.
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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