Juncture Wealth Strategies LLC raised its position in Darden Restaurants, Inc. (NYSE:DRI) by 25.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,900 shares of the restaurant operator’s stock after purchasing an additional 1,400 shares during the quarter. Juncture Wealth Strategies LLC’s holdings in Darden Restaurants were worth $816,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its holdings in shares of Darden Restaurants by 9.9% in the third quarter. Pacer Advisors Inc. now owns 12,942 shares of the restaurant operator’s stock valued at $1,530,000 after acquiring an additional 1,171 shares in the last quarter. Cerebellum GP LLC bought a new position in shares of Darden Restaurants in the third quarter valued at approximately $439,000. Summit Financial Group Inc. boosted its holdings in shares of Darden Restaurants by 55.7% in the third quarter. Summit Financial Group Inc. now owns 3,040 shares of the restaurant operator’s stock valued at $359,000 after acquiring an additional 1,087 shares in the last quarter. Scout Investments Inc. boosted its holdings in shares of Darden Restaurants by 10.5% in the third quarter. Scout Investments Inc. now owns 298,198 shares of the restaurant operator’s stock valued at $35,253,000 after acquiring an additional 28,346 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Darden Restaurants by 26.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 42,784 shares of the restaurant operator’s stock valued at $5,208,000 after acquiring an additional 8,903 shares in the last quarter. Institutional investors own 91.30% of the company’s stock.
A number of analysts recently weighed in on DRI shares. Citigroup reduced their target price on shares of Darden Restaurants from $144.00 to $138.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. KeyCorp started coverage on shares of Darden Restaurants in a report on Tuesday, July 23rd. They set an “overweight” rating and a $140.00 target price for the company. SunTrust Banks reduced their target price on shares of Darden Restaurants from $141.00 to $139.00 and set a “buy” rating for the company in a report on Friday, September 20th. Wells Fargo & Co raised their target price on shares of Darden Restaurants from $116.00 to $117.00 and gave the stock a “market perform” rating in a report on Thursday, September 12th. Finally, Maxim Group set a $126.00 target price on shares of Darden Restaurants and gave the stock a “hold” rating in a report on Friday, September 13th. Eleven analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $126.85.
Shares of NYSE:DRI traded down $0.44 during mid-day trading on Thursday, hitting $112.03. The stock had a trading volume of 1,931,698 shares, compared to its average volume of 1,645,780. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.30 and a current ratio of 0.43. The company has a market cap of $14.20 billion, a PE ratio of 19.25, a P/E/G ratio of 2.04 and a beta of 0.36. Darden Restaurants, Inc. has a 12-month low of $95.83 and a 12-month high of $128.41. The company’s 50 day moving average is $120.68 and its 200-day moving average is $120.33.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $1.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.36 by $0.02. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Darden Restaurants had a net margin of 8.36% and a return on equity of 31.37%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 EPS. On average, equities research analysts predict that Darden Restaurants, Inc. will post 6.38 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.88 dividend. The ex-dividend date is Wednesday, October 9th. This represents a $3.52 dividend on an annualized basis and a yield of 3.14%. Darden Restaurants’s payout ratio is 60.48%.
In other Darden Restaurants news, SVP Douglas J. Milanes sold 1,600 shares of the stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $119.05, for a total value of $190,480.00. Following the completion of the sale, the senior vice president now owns 6,793 shares in the company, valued at approximately $808,706.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John W. Madonna sold 1,000 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $124.12, for a total transaction of $124,120.00. Following the completion of the sale, the senior vice president now owns 8,726 shares of the company’s stock, valued at approximately $1,083,071.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,728 shares of company stock valued at $3,565,803. Insiders own 0.47% of the company’s stock.
Darden Restaurants Company 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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