Private Advisor Group LLC Purchases Shares of 2,283 Darden Restaurants, Inc. (DRI)

Private Advisor Group LLC purchased a new position in shares of Darden Restaurants, Inc. (NYSE:DRI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,283 shares of the restaurant operator’s stock, valued at approximately $254,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. lifted its holdings in Darden Restaurants by 3.8% during the 2nd quarter. BlackRock Inc. now owns 11,054,427 shares of the restaurant operator’s stock worth $1,183,487,000 after buying an additional 401,736 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Darden Restaurants by 12.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,621,385 shares of the restaurant operator’s stock worth $280,646,000 after buying an additional 288,019 shares during the last quarter. Morgan Stanley lifted its holdings in Darden Restaurants by 100.8% during the 2nd quarter. Morgan Stanley now owns 1,520,183 shares of the restaurant operator’s stock worth $162,751,000 after buying an additional 763,239 shares during the last quarter. Millennium Management LLC lifted its holdings in Darden Restaurants by 290.8% during the 2nd quarter. Millennium Management LLC now owns 1,287,465 shares of the restaurant operator’s stock worth $137,836,000 after buying an additional 958,040 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Darden Restaurants by 0.8% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,238,763 shares of the restaurant operator’s stock worth $137,741,000 after buying an additional 9,607 shares during the last quarter. 88.91% of the stock is owned by institutional investors.

DRI opened at $110.54 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 0.41. The company has a market cap of $13.81 billion, a price-to-earnings ratio of 21.52, a P/E/G ratio of 2.12 and a beta of 0.17. Darden Restaurants, Inc. has a 52 week low of $82.38 and a 52 week high of $124.00.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, September 20th. The restaurant operator reported $1.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.10. The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. Darden Restaurants had a return on equity of 30.32% and a net margin of 7.84%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 EPS. On average, equities research analysts expect 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 annualized dividend and a yield of 2.71%. The ex-dividend date was Tuesday, October 9th. Darden Restaurants’s dividend payout ratio is presently 26.20%.

Several analysts have recently weighed in on DRI shares. Argus boosted their target price on Darden Restaurants to $240.00 and gave the company a “buy” rating in a report on Thursday, September 13th. Goldman Sachs Group raised Darden Restaurants from a “neutral” rating to a “buy” rating and boosted their target price 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. SunTrust Banks boosted their target price on Darden Restaurants to $137.00 and gave the company a “buy” rating in a report on Friday, September 21st. Canaccord Genuity boosted their target price on Darden Restaurants from $120.00 to $125.00 and gave the company a “buy” rating in a report on Friday, September 21st. Finally, Mizuho boosted their target price on Darden Restaurants from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, September 21st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the stock. Darden Restaurants currently has a consensus rating of “Buy” and an average target price of $119.52.

In other Darden Restaurants news, insider Eugene I. Lee, Jr. sold 60,688 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 147,561 shares of the company’s stock, valued at approximately $16,619,795.43. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO David C. George sold 55,671 shares of the company’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $108.24, for a total value of $6,025,829.04. Following the sale, the chief operating officer now directly owns 95,236 shares of the company’s stock, valued at $10,308,344.64. The disclosure for this sale can be found here. 0.65% of the stock is owned by corporate insiders.

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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.

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

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