Darden Restaurants, Inc. (NYSE:DRI) Shares Sold by Oregon Public Employees Retirement Fund


Oregon Public Employees Retirement Fund decreased its holdings in Darden Restaurants, Inc. (NYSE:DRIGet Rating) by 6.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,405 shares of the restaurant operator’s stock after selling 610 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Darden Restaurants were worth $1,188,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DRI. PSI Advisors LLC boosted its position in shares of Darden Restaurants by 571.4% in the 2nd quarter. PSI Advisors LLC now owns 235 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 200 shares in the last quarter. Heritage Wealth Management LLC acquired a new stake in shares of Darden Restaurants in the 2nd quarter worth $31,000. Selective Wealth Management Inc. boosted its position in shares of Darden Restaurants by 618.2% in the 2nd quarter. Selective Wealth Management Inc. now owns 316 shares of the restaurant operator’s stock worth $36,000 after purchasing an additional 272 shares in the last quarter. Charter Oak Capital Management LLC acquired a new stake in shares of Darden Restaurants in the 2nd quarter worth $40,000. Finally, Heritage Financial Services LLC purchased a new position in Darden Restaurants in the 2nd quarter worth $44,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wedbush upgraded Darden Restaurants from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $134.00 to $160.00 in a research note on Wednesday, December 14th. Royal Bank of Canada raised their target price on Darden Restaurants from $144.00 to $155.00 and gave the stock an “outperform” rating in a research note on Monday, December 12th. Raymond James raised their target price on Darden Restaurants from $136.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, December 2nd. KeyCorp raised their target price on Darden Restaurants from $150.00 to $160.00 in a research note on Friday, December 9th. Finally, Cowen raised their target price on Darden Restaurants from $140.00 to $155.00 in a research note on Wednesday, December 7th. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat, Darden Restaurants has an average rating of “Moderate Buy” and a consensus price target of $151.91.

Insider Transactions at Darden Restaurants

In other news, SVP Douglas J. Milanes sold 2,228 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $140.00, for a total transaction of $311,920.00. Following the transaction, the senior vice president now directly owns 5,281 shares in the company, valued at approximately $739,340. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Douglas J. Milanes sold 2,228 shares of the business’s stock in a transaction that occurred on Wednesday, October 26th. The stock was sold at an average price of $140.00, for a total transaction of $311,920.00. Following the transaction, the senior vice president now directly owns 5,281 shares in the company, valued at approximately $739,340. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Melvin John Martin sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $141.95, for a total value of $283,900.00. Following the transaction, the insider now owns 12,364 shares in the company, valued at $1,755,069.80. The disclosure for this sale can be found here. Insiders have sold a total of 23,975 shares of company stock worth $3,439,234 in the last ninety days. Insiders own 0.93% of the company’s stock.

Darden Restaurants Trading Up 1.4 %

DRI stock opened at $147.38 on Monday. The company has a current ratio of 0.47, a quick ratio of 0.31 and a debt-to-equity ratio of 0.44. Darden Restaurants, Inc. has a 12-month low of $110.96 and a 12-month high of $152.08. The stock has a market cap of $17.94 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 1.92 and a beta of 1.21. The business’s 50-day moving average is $144.18 and its 200 day moving average is $134.14.

Darden Restaurants (NYSE:DRIGet Rating) last posted its quarterly earnings data on Friday, December 16th. The restaurant operator reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.11. Darden Restaurants had a return on equity of 42.51% and a net margin of 9.10%. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.43 billion. On average, sell-side analysts anticipate that Darden Restaurants, Inc. will post 7.8 EPS for the current fiscal year.

Darden Restaurants Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be issued a dividend of $1.21 per share. This represents a $4.84 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Monday, January 9th. Darden Restaurants’s dividend payout ratio is currently 66.76%.

Darden Restaurants Profile

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Darden Restaurants, Inc is a full-service restaurant company, which engages in the provision of restaurant services. It operates through the following segments: Olive Garden, LongHorn Steakhouse, Fine Dining, and Other Business. The Olive Garden segment is the largest full-service dining Italian restaurant operator.

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



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