Darden Restaurants, Inc. (NYSE:DRI) Shares Sold by Harrell Investment Partners LLC

Harrell Investment Partners LLC decreased its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,518 shares of the restaurant operator’s stock after selling 732 shares during the quarter. Harrell Investment Partners LLC’s holdings in Darden Restaurants were worth $3,860,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Westwood Holdings Group Inc. bought a new position in Darden Restaurants in the 1st quarter worth about $72,901,000. Massachusetts Financial Services Co. MA boosted its position in Darden Restaurants by 71.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 696,176 shares of the restaurant operator’s stock worth $105,345,000 after acquiring an additional 289,876 shares during the period. Toronto Dominion Bank boosted its position in Darden Restaurants by 139.9% during the 2nd quarter. Toronto Dominion Bank now owns 352,344 shares of the restaurant operator’s stock worth $53,317,000 after acquiring an additional 205,450 shares during the period. Hsbc Holdings PLC grew its stake in shares of Darden Restaurants by 81.2% in the second quarter. Hsbc Holdings PLC now owns 457,114 shares of the restaurant operator’s stock worth $69,125,000 after purchasing an additional 204,832 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Darden Restaurants by 10.3% during the fourth quarter. Wellington Management Group LLP now owns 1,809,155 shares of the restaurant operator’s stock valued at $297,244,000 after purchasing an additional 169,642 shares during the period. Institutional investors own 93.64% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Douglas J. Milanes sold 5,705 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $172.04, for a total value of $981,488.20. Following the completion of the sale, the senior vice president now directly owns 3,834 shares in the company, valued at approximately $659,601.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Douglas J. Milanes sold 5,705 shares of Darden Restaurants stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $172.04, for a total value of $981,488.20. Following the transaction, the senior vice president now owns 3,834 shares in the company, valued at $659,601.36. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ricardo Cardenas sold 42,403 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $171.68, for a total transaction of $7,279,747.04. Following the sale, the chief executive officer now owns 58,685 shares of the company’s stock, valued at $10,075,040.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,706 shares of company stock valued at $12,813,038 over the last quarter. Insiders own 0.85% of the company’s stock.

Darden Restaurants Stock Down 0.2 %

DRI stock traded down $0.38 during midday trading on Monday, reaching $156.34. The company had a trading volume of 107,543 shares, compared to its average volume of 1,235,672. The company has a 50 day moving average of $156.78 and a two-hundred day moving average of $152.51. The company has a current ratio of 0.35, a quick ratio of 0.22 and a debt-to-equity ratio of 0.65. Darden Restaurants, Inc. has a 1 year low of $134.93 and a 1 year high of $176.84. The company has a market capitalization of $18.66 billion, a P/E ratio of 18.39, a PEG ratio of 1.83 and a beta of 1.30.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $1.75 earnings per share (EPS) 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 firm had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period in the previous year, the business posted $1.78 EPS. Darden Restaurants’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, equities research analysts expect that Darden Restaurants, Inc. will post 9.47 earnings per share for the current fiscal year.

Darden Restaurants Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 3.58%. The ex-dividend date is Thursday, October 10th. This is a positive change from Darden Restaurants’s previous quarterly dividend of $1.29. Darden Restaurants’s payout ratio is presently 65.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Evercore ISI raised shares of Darden Restaurants from an “in-line” rating to an “outperform” rating and raised their target price for the company from $165.00 to $205.00 in a research note on Friday, September 20th. Wells Fargo & Company boosted their target price on Darden Restaurants from $160.00 to $165.00 and gave the stock an “equal weight” rating in a report on Friday, September 20th. Bank of America increased their price target on Darden Restaurants from $184.00 to $195.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Citigroup dropped their price objective on Darden Restaurants from $192.00 to $191.00 and set a “buy” rating on the stock in a research note on Tuesday, September 10th. Finally, BMO Capital Markets raised their target price on Darden Restaurants from $165.00 to $175.00 and gave the company a “market perform” rating in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $179.25.

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.