Darden Restaurants, Inc. (NYSE:DRI) Stock Holdings Increased by Harwood Advisory Group LLC

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Harwood Advisory Group LLC increased its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 5.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,578 shares of the restaurant operator’s stock after purchasing an additional 1,155 shares during the quarter. Harwood Advisory Group LLC’s holdings in Darden Restaurants were worth $2,787,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of Darden Restaurants by 11.2% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 28,341 shares of the restaurant operator’s stock worth $3,449,000 after purchasing an additional 2,859 shares in the last quarter. MML Investors Services LLC raised its holdings in shares of Darden Restaurants by 6.2% in the 2nd quarter. MML Investors Services LLC now owns 12,522 shares of the restaurant operator’s stock worth $1,524,000 after purchasing an additional 728 shares in the last quarter. Baker Avenue Asset Management LP raised its holdings in shares of Darden Restaurants by 1.3% in the 2nd quarter. Baker Avenue Asset Management LP now owns 14,241 shares of the restaurant operator’s stock worth $1,733,000 after purchasing an additional 183 shares in the last quarter. Ackerman Capital Advisors LLC raised its holdings in shares of Darden Restaurants by 33.3% in the 2nd quarter. Ackerman Capital Advisors LLC now owns 4,000 shares of the restaurant operator’s stock worth $486,920,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Highstreet Asset Management Inc. bought a new stake in shares of Darden Restaurants in the 2nd quarter worth approximately $379,000. Institutional investors and hedge funds own 91.72% of the company’s stock.

DRI traded down $0.10 on Wednesday, reaching $110.19. 18,171 shares of the company traded hands, compared to its average volume of 1,797,615. The stock’s 50 day moving average price is $119.72 and its 200-day moving average price is $120.15. Darden Restaurants, Inc. has a 52-week low of $95.83 and a 52-week high of $128.41. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 2.00 and a beta of 0.36. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.43 and a quick ratio of 0.30.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $1.38 EPS for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.02. Darden Restaurants had a net margin of 8.36% and a return on equity of 31.37%. The firm had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $1.34 earnings per share. The firm’s revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts forecast that Darden Restaurants, Inc. will post 6.38 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend is Wednesday, October 9th. Darden Restaurants’s payout ratio is presently 60.48%.

A number of analysts recently commented on DRI shares. KeyCorp started coverage on shares of Darden Restaurants in a report on Tuesday, July 23rd. They issued an “overweight” rating and a $140.00 target price on the stock. Wedbush restated a “hold” rating and set a $125.00 price target on shares of Darden Restaurants in a report on Thursday, August 29th. Citigroup cut their price target on shares of Darden Restaurants from $144.00 to $138.00 and set a “buy” rating on the stock in a report on Tuesday, September 24th. Wells Fargo & Co boosted their price target on shares of Darden Restaurants from $116.00 to $117.00 and gave the company a “market perform” rating in a report on Thursday, September 12th. Finally, Deutsche Bank started coverage on shares of Darden Restaurants in a report on Friday, June 28th. They set a “hold” rating and a $123.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $126.85.

In related news, SVP John W. Madonna sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $124.12, for a total transaction of $124,120.00. Following the transaction, the senior vice president now directly owns 8,726 shares of the company’s stock, valued at $1,083,071.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Daniel J. Kiernan sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $123.92, for a total transaction of $1,487,040.00. Following the transaction, the insider now directly owns 14,577 shares in the company, valued at $1,806,381.84. The disclosure for this sale can be found here. Insiders have sold 14,600 shares of company stock worth $1,801,640 over the last ninety days. 0.47% of the stock is currently owned by insiders.

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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