Darden Restaurants, Inc. (NYSE:DRI) Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 27.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 80,800 shares of the restaurant operator’s stock after selling 30,861 shares during the period. First Trust Advisors LP’s holdings in Darden Restaurants were worth $8,140,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in DRI. Parallel Advisors LLC increased its stake in Darden Restaurants by 228.5% during the 2nd quarter. Parallel Advisors LLC now owns 537 shares of the restaurant operator’s stock valued at $40,000 after buying an additional 955 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in Darden Restaurants by 39.4% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 41,720 shares of the restaurant operator’s stock valued at $3,161,000 after buying an additional 11,799 shares during the period. Belpointe Asset Management LLC acquired a new position in Darden Restaurants during the 2nd quarter valued at about $167,000. Assenagon Asset Management S.A. acquired a new position in Darden Restaurants during the 2nd quarter valued at about $6,174,000. Finally, Oregon Public Employees Retirement Fund increased its stake in Darden Restaurants by 0.9% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 27,912 shares of the restaurant operator’s stock valued at $2,115,000 after buying an additional 241 shares during the period. 82.87% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Nana Mensah sold 1,000 shares of Darden Restaurants stock in a transaction that occurred on Tuesday, October 27th. The shares were sold at an average price of $95.07, for a total value of $95,070.00. Following the transaction, the director now owns 180 shares of the company’s stock, valued at $17,112.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by insiders.

DRI has been the topic of several recent research reports. Credit Suisse Group lifted their price objective on shares of Darden Restaurants from $95.00 to $112.00 and gave the stock an “outperform” rating in a research note on Friday, September 25th. Morgan Stanley lifted their price objective on shares of Darden Restaurants from $71.00 to $112.00 and gave the stock an “equal weight” rating in a research note on Friday, September 25th. Oppenheimer lifted their price objective on shares of Darden Restaurants from $90.00 to $100.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 22nd. They noted that the move was a valuation call. Piper Sandler reaffirmed an “overweight” rating and issued a $103.00 price objective (up previously from $95.00) on shares of Darden Restaurants in a research note on Friday, September 25th. Finally, Loop Capital lifted their price objective on shares of Darden Restaurants from $90.00 to $115.00 in a research note on Monday, September 28th. Fifteen research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $101.55.

NYSE DRI opened at $108.45 on Friday. The company has a quick ratio of 0.51, a current ratio of 0.63 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $14.12 billion, a PE ratio of -72.79, a price-to-earnings-growth ratio of 1.41 and a beta of 1.41. The company has a 50 day moving average price of $101.34 and a two-hundred day moving average price of $85.35. Darden Restaurants, Inc. has a 12-month low of $26.15 and a 12-month high of $125.96.

Darden Restaurants (NYSE:DRI) last posted its earnings results on Thursday, September 24th. The restaurant operator reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.51. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations of $1.55 billion. Darden Restaurants had a negative net margin of 2.60% and a positive return on equity of 12.45%. The company’s revenue was down 28.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.38 earnings per share. As a group, equities analysts anticipate that Darden Restaurants, Inc. will post 4 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 9th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Thursday, October 8th. Darden Restaurants’s dividend payout ratio (DPR) is presently 38.34%.

Darden Restaurants Profile

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 31, 2020, it owned and operated approximately 1,804 restaurants, which included 868 under the Olive Garden, 522 under the LongHorn Steakhouse, 165 under the Cheddar's Scratch Kitchen, 81 under the Yard House, 60 under The Capital Grille, 44 under the Seasons 52, 41 under the Bahama Breeze, and 23 under the Eddie V's Prime Seafood brands.

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Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

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