Bank Julius Baer & Co. Ltd Zurich Reduces Position in Darden Restaurants, Inc. (NYSE:DRI)

Bank Julius Baer & Co. Ltd Zurich decreased its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 61,725 shares of the restaurant operator’s stock after selling 643 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Darden Restaurants were worth $11,963,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Mizuho Securities USA LLC raised its holdings in shares of Darden Restaurants by 96,162.9% during the third quarter. Mizuho Securities USA LLC now owns 8,861,000 shares of the restaurant operator’s stock valued at $1,454,356,000 after purchasing an additional 8,851,795 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Darden Restaurants during the 4th quarter valued at $642,967,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Darden Restaurants by 111.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,469,083 shares of the restaurant operator’s stock valued at $241,121,000 after buying an additional 772,907 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Darden Restaurants in the 3rd quarter worth $40,048,000. Finally, Los Angeles Capital Management LLC grew its position in Darden Restaurants by 6,456.8% during the fourth quarter. Los Angeles Capital Management LLC now owns 185,098 shares of the restaurant operator’s stock valued at $34,556,000 after buying an additional 182,275 shares during the period. Institutional investors own 93.64% of the company’s stock.

Darden Restaurants Stock Performance

Shares of NYSE:DRI opened at $195.06 on Friday. The company has a current ratio of 0.37, a quick ratio of 0.23 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $22.85 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 2.15 and a beta of 1.27. Darden Restaurants, Inc. has a 12 month low of $135.87 and a 12 month high of $203.12. The firm’s 50-day moving average is $190.99 and its 200 day moving average is $174.35.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Thursday, December 19th. The restaurant operator reported $2.03 earnings per share for the quarter, hitting the consensus estimate of $2.03. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.87 billion. During the same period in the prior year, the business posted $1.84 earnings per share. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. Research analysts predict that Darden Restaurants, Inc. will post 9.52 EPS for the current year.

Darden Restaurants Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date of this dividend was Friday, January 10th. Darden Restaurants’s dividend payout ratio is currently 64.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DRI shares. The Goldman Sachs Group initiated coverage on shares of Darden Restaurants in a research note on Thursday, December 5th. They set a “neutral” rating and a $183.00 price target on the stock. Citigroup reduced their price target on Darden Restaurants from $209.00 to $206.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. Sanford C. Bernstein raised Darden Restaurants from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $180.00 to $215.00 in a research report on Wednesday, January 22nd. Oppenheimer boosted their target price on shares of Darden Restaurants from $200.00 to $218.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Finally, Wedbush boosted their price target on shares of Darden Restaurants from $200.00 to $220.00 and gave the stock an “outperform” rating in a research note on Friday, December 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $192.52.

Insider Transactions at Darden Restaurants

In other news, SVP Matthew R. Broad sold 12,759 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $187.37, for a total transaction of $2,390,653.83. Following the transaction, the senior vice president now directly owns 14,328 shares of the company’s stock, valued at approximately $2,684,637.36. This trade represents a 47.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Douglas J. Milanes sold 7,892 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $195.95, for a total value 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. The trade was a 66.85 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,926 shares of company stock worth $9,850,129. Insiders own 0.58% of the company’s stock.

Darden Restaurants Company 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.