Darden Restaurants, Inc. (NYSE:DRI) Shares Sold by Atria Investments Inc

Atria Investments Inc cut its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 7.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,577 shares of the restaurant operator’s stock after selling 1,003 shares during the quarter. Atria Investments Inc’s holdings in Darden Restaurants were worth $2,064,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Russell Investments Group Ltd. grew its position in shares of Darden Restaurants by 206.5% in the first quarter. Russell Investments Group Ltd. now owns 49,082 shares of the restaurant operator’s stock valued at $8,204,000 after purchasing an additional 33,066 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in Darden Restaurants by 5.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 136,364 shares of the restaurant operator’s stock worth $21,158,000 after acquiring an additional 7,184 shares during the last quarter. Public Employees Retirement Association of Colorado boosted its position in Darden Restaurants by 4.8% during the first quarter. Public Employees Retirement Association of Colorado now owns 134,319 shares of the restaurant operator’s stock worth $22,451,000 after acquiring an additional 6,151 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Darden Restaurants by 16.4% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 42,281 shares of the restaurant operator’s stock worth $6,398,000 after acquiring an additional 5,945 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its position in Darden Restaurants by 4.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 103,144 shares of the restaurant operator’s stock worth $17,248,000 after acquiring an additional 4,526 shares during the last quarter. 93.64% of the stock is currently owned by institutional investors and hedge funds.

Darden Restaurants Stock Down 0.6 %

Shares of NYSE DRI opened at $168.69 on Friday. Darden Restaurants, Inc. has a 1 year low of $135.87 and a 1 year high of $176.84. The stock’s 50-day simple moving average is $162.98 and its 200-day simple moving average is $153.56. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.22 and a current ratio of 0.35. The firm has a market cap of $19.82 billion, a price-to-earnings ratio of 19.46, a PEG ratio of 1.93 and a beta of 1.31.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $1.75 earnings per share for the quarter, missing analysts’ consensus estimates of $1.83 by ($0.08). Darden Restaurants had a net margin of 9.11% and a return on equity of 49.46%. The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same quarter last year, the business earned $1.78 EPS. Darden Restaurants’s revenue for the quarter was up 1.0% compared to the same quarter last year. As a group, equities analysts anticipate that Darden Restaurants, Inc. will post 9.47 earnings per share for the current fiscal year.

Darden Restaurants Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $1.40 dividend. This is a positive change from Darden Restaurants’s previous quarterly dividend of $1.29. The ex-dividend date was Thursday, October 10th. This represents a $5.60 annualized dividend and a dividend yield of 3.32%. Darden Restaurants’s dividend payout ratio (DPR) is presently 64.59%.

Wall Street Analysts Forecast Growth

DRI has been the topic of a number of analyst reports. Stephens restated an “equal weight” rating and set a $164.00 target price on shares of Darden Restaurants in a research report on Monday, October 14th. BMO Capital Markets raised their target price on shares of Darden Restaurants from $165.00 to $175.00 and gave the stock a “market perform” rating in a research report on Friday, September 20th. Bank of America raised their target price on shares of Darden Restaurants from $184.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Sanford C. Bernstein lowered shares of Darden Restaurants from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $190.00 to $180.00 in a research report on Friday, September 20th. Finally, Citigroup decreased their target price on shares of Darden Restaurants from $192.00 to $191.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Darden Restaurants currently has a consensus rating of “Moderate Buy” and an average target price of $180.13.

Insider Transactions at Darden Restaurants

In other news, insider Melvin John Martin sold 3,000 shares of Darden Restaurants stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $163.30, for a total value of $489,900.00. Following the completion of the transaction, the insider now owns 12,601 shares in the company, valued at approximately $2,057,743.30. This trade represents a 19.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ricardo Cardenas sold 42,403 shares of Darden Restaurants stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $171.68, for a total value of $7,279,747.04. Following the completion of the transaction, the chief executive officer now owns 58,685 shares of the company’s stock, valued at approximately $10,075,040.80. The trade was a 41.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,265 shares of company stock worth $10,116,030. 0.58% of the stock is currently owned by corporate insiders.

Darden Restaurants Profile

Darden Restaurants, Inc, together with its subsidiaries, owns and operates full-service restaurants in the United States and Canada. It operates under Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V’s Prime Seafood, and Capital Burger brand names.