Amundi Increases Position in Darden Restaurants, Inc. (NYSE:DRI)

Amundi raised its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 15.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 922,849 shares of the restaurant operator’s stock after acquiring an additional 121,015 shares during the period. Amundi owned approximately 0.79% of Darden Restaurants worth $171,288,000 at the end of the most recent quarter.

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

Darden Restaurants Stock Up 1.4 %

Darden Restaurants stock opened at $195.06 on Monday. Darden Restaurants, Inc. has a fifty-two week low of $135.87 and a fifty-two week high of $203.12. The firm has a market capitalization of $22.85 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 2.15 and a beta of 1.27. The stock’s fifty day moving average is $190.99 and its two-hundred day moving average is $174.48. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.23 and a current ratio of 0.37.

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

Darden Restaurants Dividend Announcement

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

Insider Buying and Selling at Darden Restaurants

In related news, CFO Rajesh Vennam sold 7,228 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $181.71, for a total value of $1,313,399.88. Following the completion of the transaction, the chief financial officer now directly owns 10,262 shares in the company, valued at approximately $1,864,708.02. This represents a 41.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Todd Burrowes sold 15,783 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $183.03, for a total value of $2,888,762.49. Following the completion of the sale, the insider now directly owns 46,288 shares in the company, valued at approximately $8,472,092.64. The trade was a 25.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,926 shares of company stock worth $9,850,129. Insiders own 0.58% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Bank of America lifted their target price on Darden Restaurants from $195.00 to $211.00 and gave the company a “buy” rating in a research report on Friday, December 20th. The Goldman Sachs Group started coverage on shares of Darden Restaurants in a report on Thursday, December 5th. They issued a “neutral” rating and a $183.00 price objective on the stock. Raymond James increased their target price on shares of Darden Restaurants from $200.00 to $210.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 28th. Barclays boosted their price target on shares of Darden Restaurants from $206.00 to $230.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Citigroup lowered their price objective on shares of Darden Restaurants from $209.00 to $206.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $192.52.

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.