PGGM Investments Sells 6,322 Shares of Darden Restaurants, Inc. (NYSE:DRI)

PGGM Investments reduced its position in Darden Restaurants, Inc. (NYSE:DRI) by 19.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,698 shares of the restaurant operator’s stock after selling 6,322 shares during the quarter. PGGM Investments’ holdings in Darden Restaurants were worth $4,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Kestra Investment Management LLC bought a new position in shares of Darden Restaurants during the 4th quarter worth $25,000. Compass Wealth Management LLC purchased a new stake in Darden Restaurants during the fourth quarter valued at about $28,000. MCF Advisors LLC boosted its position in Darden Restaurants by 50.9% during the fourth quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator’s stock worth $33,000 after purchasing an additional 59 shares during the period. HHM Wealth Advisors LLC raised its position in shares of Darden Restaurants by 103.2% in the fourth quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator’s stock valued at $47,000 after purchasing an additional 129 shares during the period. Finally, Webster Bank N. A. bought a new position in Darden Restaurants in the 4th quarter worth approximately $51,000. 93.64% of the stock is owned by hedge funds and other institutional investors.

Darden Restaurants Stock Down 4.8 %

Shares of NYSE DRI opened at $180.80 on Friday. The stock has a market capitalization of $21.18 billion, a P/E ratio of 20.71, a PEG ratio of 2.15 and a beta of 1.27. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.37 and a quick ratio of 0.23. Darden Restaurants, Inc. has a one year low of $135.87 and a one year high of $203.12. The firm’s 50 day simple moving average is $191.28 and its two-hundred day simple moving average is $175.13.

Darden Restaurants (NYSE:DRI) last released its earnings results on Thursday, December 19th. The restaurant operator reported $2.03 EPS for the quarter, meeting the consensus estimate of $2.03. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.87 billion. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 EPS. As a group, analysts expect that Darden Restaurants, Inc. will post 9.52 EPS for the current fiscal year.

Darden Restaurants Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 10th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, January 10th. This represents a $5.60 annualized dividend and a yield of 3.10%. Darden Restaurants’s payout ratio is 64.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Wedbush boosted their target price on shares of Darden Restaurants from $200.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, December 20th. Barclays boosted their price objective on Darden Restaurants from $206.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Raymond James increased their price objective on Darden Restaurants from $200.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Sanford C. Bernstein upgraded Darden Restaurants from a “market perform” rating to an “outperform” rating and upped their price target for the company from $180.00 to $215.00 in a research report on Wednesday, January 22nd. Finally, Citigroup lowered their price target on shares of Darden Restaurants from $209.00 to $206.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. One equities 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, Darden Restaurants presently has a consensus rating of “Moderate Buy” and an average price target of $192.52.

Insiders Place Their Bets

In other Darden Restaurants news, SVP Douglas J. Milanes sold 7,892 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $195.95, for a total transaction of $1,546,437.40. Following the completion of the sale, the senior vice president now owns 3,914 shares of the company’s stock, valued at $766,948.30. This represents a 66.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Rajesh Vennam sold 7,228 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $181.71, for a total transaction of $1,313,399.88. Following the completion of the transaction, the chief financial officer now owns 10,262 shares in the company, valued at $1,864,708.02. The trade was a 41.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,926 shares of company stock valued at $9,850,129 in the last ninety days. Company insiders own 0.58% of the company’s stock.

About Darden Restaurants

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.