Raymond James Trust N.A. Trims Stake in Darden Restaurants, Inc. (NYSE:DRI)

Raymond James Trust N.A. reduced its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 16.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 6,041 shares of the restaurant operator’s stock after selling 1,174 shares during the quarter. Raymond James Trust N.A.’s holdings in Darden Restaurants were worth $580,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. M&R Capital Management Inc. bought a new stake in shares of Darden Restaurants in the 2nd quarter valued at $108,000. D.A. Davidson & CO. boosted its stake in shares of Darden Restaurants by 1.7% in the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock valued at $114,000 after purchasing an additional 21 shares during the last quarter. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Darden Restaurants in the 3rd quarter valued at $115,000. Cerebellum GP LLC bought a new stake in shares of Darden Restaurants in the 4th quarter valued at $126,000. Finally, Grove Bank & Trust boosted its stake in Darden Restaurants by 155.6% during the third quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock worth $145,000 after acquiring an additional 1,120 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.

In related news, insider Eugene I. Lee, Jr. sold 59,783 shares of Darden Restaurants stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $96.80, for a total value of $5,786,994.40. Following the sale, the insider now owns 164,396 shares in the company, valued at $15,913,532.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ricardo Cardenas sold 10,783 shares of the business’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $97.17, for a total transaction of $1,047,784.11. Following the sale, the chief financial officer now owns 20,046 shares in the company, valued at approximately $1,947,869.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,866 shares of company stock worth $7,252,094. 0.63% of the stock is currently owned by company insiders.

Several brokerages recently issued reports on DRI. Barclays reissued an “overweight” rating and set a $116.00 target price (up from $108.00) on shares of Darden Restaurants in a research note on Tuesday, January 16th. BMO Capital Markets set a $99.00 price objective on shares of Darden Restaurants and gave the stock a “hold” rating in a report on Friday, January 12th. Credit Suisse Group restated a “hold” rating and set a $95.00 price objective on shares of Darden Restaurants in a report on Friday, January 12th. SunTrust Banks set a $104.00 price objective on shares of Darden Restaurants and gave the stock a “hold” rating in a report on Thursday, January 11th. Finally, Maxim Group reiterated a “buy” rating and issued a $112.00 target price (up previously from $103.00) on shares of Darden Restaurants in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and ten have given a buy rating to the company’s stock. Darden Restaurants presently has a consensus rating of “Hold” and a consensus target price of $96.95.

Darden Restaurants, Inc. (NYSE DRI) opened at $95.61 on Thursday. The company has a market cap of $11,701.12, a P/E ratio of 24.52, a price-to-earnings-growth ratio of 1.83 and a beta of 0.16. Darden Restaurants, Inc. has a one year low of $73.81 and a one year high of $100.11. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.20 and a current ratio of 0.34.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 EPS for the quarter, topping the consensus estimate of $0.70 by $0.03. Darden Restaurants had a net margin of 6.46% and a return on equity of 26.24%. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.85 billion. sell-side analysts predict that Darden Restaurants, Inc. will post 4.76 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Tuesday, January 9th. Darden Restaurants’s dividend payout ratio (DPR) is currently 64.62%.

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Darden Restaurants Profile

Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).

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

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