Darden Restaurants, Inc. (DRI) Shares Sold by Cerebellum GP LLC

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Cerebellum GP LLC lessened its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 26.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,654 shares of the restaurant operator’s stock after selling 592 shares during the period. Cerebellum GP LLC’s holdings in Darden Restaurants were worth $177,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC lifted its holdings in Darden Restaurants by 79.3% during the 1st quarter. Jacobi Capital Management LLC now owns 1,585 shares of the restaurant operator’s stock worth $133,000 after buying an additional 701 shares during the last quarter. Trilogy Capital Inc. acquired a new stake in shares of Darden Restaurants during the 1st quarter worth approximately $140,000. TLP Group LLC raised its position in shares of Darden Restaurants by 761.3% during the 1st quarter. TLP Group LLC now owns 2,093 shares of the restaurant operator’s stock worth $178,000 after purchasing an additional 1,850 shares during the period. Ostrum Asset Management acquired a new stake in shares of Darden Restaurants during the 1st quarter worth approximately $180,000. Finally, Summit Financial Group Inc. acquired a new stake in shares of Darden Restaurants during the 2nd quarter worth approximately $209,000. 89.28% of the stock is currently owned by institutional investors.

In other news, insider Daniel J. Kiernan sold 6,000 shares of Darden Restaurants stock in a transaction on Monday, June 25th. The stock was sold at an average price of $107.38, for a total transaction of $644,280.00. Following the transaction, the insider now directly owns 6,715 shares in the company, valued at approximately $721,056.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP John W. Madonna sold 700 shares of Darden Restaurants stock in a transaction on Monday, June 25th. The shares were sold at an average price of $109.21, for a total value of $76,447.00. Following the transaction, the senior vice president now owns 706 shares in the company, valued at $77,102.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 177,632 shares of company stock worth $19,096,015. 0.63% of the stock is owned by insiders.

A number of analysts have recently weighed in on the company. BMO Capital Markets dropped their price target on Darden Restaurants from $99.00 to $97.00 and set a “market perform” rating on the stock in a research report on Thursday, March 22nd. Mizuho increased their price target on Darden Restaurants to $115.00 and gave the stock a “buy” rating in a research report on Friday, June 22nd. Jefferies Financial Group increased their price target on Darden Restaurants from $90.00 to $100.00 and gave the stock a “hold” rating in a research report on Friday, June 22nd. Maxim Group reiterated a “buy” rating and set a $112.00 price target on shares of Darden Restaurants in a research report on Wednesday, March 14th. Finally, SunTrust Banks increased their price target on Darden Restaurants to $117.00 and gave the stock a “buy” rating in a research report on Friday, June 22nd. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Darden Restaurants presently has an average rating of “Buy” and an average target price of $106.38.

DRI opened at $110.19 on Friday. Darden Restaurants, Inc. has a 12 month low of $76.27 and a 12 month high of $110.55. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.25 and a current ratio of 0.40. The company has a market capitalization of $13.42 billion, a P/E ratio of 22.75, a price-to-earnings-growth ratio of 2.12 and a beta of 0.16.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Thursday, June 21st. The restaurant operator reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.04. Darden Restaurants had a return on equity of 29.02% and a net margin of 7.38%. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the firm earned $0.99 EPS. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. research analysts expect that Darden Restaurants, Inc. will post 5.49 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Tuesday, July 10th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Monday, July 9th. This is a boost from Darden Restaurants’s previous quarterly dividend of $0.63. This represents a $3.00 annualized dividend and a dividend yield of 2.72%. Darden Restaurants’s dividend payout ratio (DPR) is 52.39%.

About Darden Restaurants

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of June 27, 2017, it owned and operated approximately 1,700 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, and Eddie V's brands.

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

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