Integrated Advisors Network LLC Sells 97 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Integrated Advisors Network LLC lowered its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 5.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,742 shares of the restaurant operator’s stock after selling 97 shares during the quarter. Integrated Advisors Network LLC’s holdings in Darden Restaurants were worth $286,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Neo Ivy Capital Management bought a new position in Darden Restaurants during the fourth quarter valued at $153,000. GLOBALT Investments LLC GA bought a new position in Darden Restaurants during the fourth quarter valued at $8,282,000. Covenant Partners LLC lifted its position in Darden Restaurants by 4.6% during the fourth quarter. Covenant Partners LLC now owns 4,207 shares of the restaurant operator’s stock valued at $691,000 after purchasing an additional 185 shares during the last quarter. Chilton Investment Co. Inc. lifted its holdings in shares of Darden Restaurants by 3.9% in the 4th quarter. Chilton Investment Co. Inc. now owns 22,371 shares of the restaurant operator’s stock worth $3,676,000 after acquiring an additional 844 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Darden Restaurants in the 4th quarter worth about $6,813,000. Institutional investors own 93.64% of the company’s stock.

Wall Street Analyst Weigh In

DRI has been the subject of several analyst reports. TD Cowen lowered their target price on shares of Darden Restaurants from $190.00 to $170.00 and set a “buy” rating for the company in a report on Thursday, June 13th. Evercore ISI lowered their target price on shares of Darden Restaurants from $170.00 to $165.00 and set an “in-line” rating for the company in a report on Thursday, June 13th. BMO Capital Markets raised their target price on shares of Darden Restaurants from $160.00 to $165.00 and gave the stock a “market perform” rating in a report on Thursday, March 7th. BTIG Research upgraded shares of Darden Restaurants from a “neutral” rating to a “buy” rating and set a $175.00 target price for the company in a report on Friday, May 17th. Finally, Bank of America lowered their target price on shares of Darden Restaurants from $194.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, June 13th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.81.

Darden Restaurants Trading Down 1.0 %

NYSE DRI opened at $152.07 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 0.39 and a debt-to-equity ratio of 0.63. The firm has a market cap of $18.15 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 1.57 and a beta of 1.29. The company has a 50 day moving average price of $150.91 and a 200 day moving average price of $159.84. Darden Restaurants, Inc. has a 52 week low of $133.36 and a 52 week high of $176.84.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, March 21st. The restaurant operator reported $2.62 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.01). The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. Darden Restaurants had a return on equity of 49.94% and a net margin of 9.24%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.34 EPS. As a group, sell-side analysts forecast that Darden Restaurants, Inc. will post 8.85 EPS for the current fiscal year.

Darden Restaurants Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a dividend of $1.31 per share. This represents a $5.24 annualized dividend and a yield of 3.45%. The ex-dividend date was Tuesday, April 9th. Darden Restaurants’s dividend payout ratio is presently 61.43%.

Darden Restaurants announced that its board has approved a stock repurchase plan on Thursday, March 21st that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the restaurant operator to purchase up to 5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Darden Restaurants news, SVP Matthew R. Broad sold 4,707 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The shares were sold at an average price of $156.15, for a total transaction of $734,998.05. Following the sale, the senior vice president now owns 19,179 shares of the company’s stock, valued at approximately $2,994,800.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Darden Restaurants news, Director William S. Simon sold 1,219 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $158.21, for a total transaction of $192,857.99. Following the sale, the director now owns 6,281 shares of the company’s stock, valued at approximately $993,717.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Matthew R. Broad sold 4,707 shares of the business’s stock in a transaction that occurred on Thursday, April 25th. The stock was sold at an average price of $156.15, for a total transaction of $734,998.05. Following the sale, the senior vice president now directly owns 19,179 shares in the company, valued at approximately $2,994,800.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,599 shares of company stock valued at $2,197,891. Insiders own 0.85% of the company’s stock.

Darden Restaurants 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.