Darden Restaurants, Inc. (NYSE:DRI) Stock Holdings Lessened by AXQ Capital LP

AXQ Capital LP reduced its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 21.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 5,449 shares of the restaurant operator’s stock after selling 1,518 shares during the quarter. AXQ Capital LP’s holdings in Darden Restaurants were worth $1,017,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in Darden Restaurants in the 4th quarter valued at about $642,967,000. Massachusetts Financial Services Co. MA lifted its position in Darden Restaurants by 111.0% in 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 purchasing an additional 772,907 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Darden Restaurants in the 3rd quarter worth approximately $40,048,000. Los Angeles Capital Management LLC lifted its stake in shares of Darden Restaurants by 6,456.8% in the 4th quarter. Los Angeles Capital Management LLC now owns 185,098 shares of the restaurant operator’s stock worth $34,556,000 after acquiring an additional 182,275 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Darden Restaurants by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,750,658 shares of the restaurant operator’s stock worth $700,210,000 after acquiring an additional 170,336 shares during the period. 93.64% of the stock is currently owned by institutional investors.

Insider Activity at Darden Restaurants

In related news, SVP Douglas J. Milanes sold 7,892 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $195.95, for a total transaction of $1,546,437.40. Following the completion of the transaction, the senior vice president now directly owns 3,914 shares in the company, valued at $766,948.30. This represents a 66.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Rajesh Vennam sold 7,228 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $181.71, for a total transaction of $1,313,399.88. Following the transaction, the chief financial officer now owns 10,262 shares of the company’s stock, valued at approximately $1,864,708.02. The trade was a 41.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,926 shares of company stock worth $9,850,129 in the last ninety days. 0.58% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DRI has been the subject of a number of research analyst reports. UBS Group upped their price target on shares of Darden Restaurants from $210.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday. Bank of America upped their price target on shares of Darden Restaurants from $230.00 to $238.00 and gave the stock a “buy” rating in a research note on Friday. The Goldman Sachs Group initiated coverage on shares of Darden Restaurants in a report on Thursday, December 5th. They issued a “neutral” rating and a $183.00 target price on the stock. Morgan Stanley boosted their target price on shares of Darden Restaurants from $209.00 to $217.00 and gave the stock an “overweight” rating in a report on Friday. Finally, BMO Capital Markets boosted their target price on shares of Darden Restaurants from $175.00 to $190.00 and gave the stock a “market perform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $201.36.

Darden Restaurants Stock Performance

DRI stock opened at $199.92 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.37 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $23.42 billion, a price-to-earnings ratio of 22.90, a P/E/G 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 $203.47. The firm has a 50 day moving average of $192.08 and a two-hundred day moving average of $176.60.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, March 20th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.80. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.22 billion. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. Darden Restaurants’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.60 EPS. As a group, equities analysts anticipate that Darden Restaurants, Inc. will post 9.52 EPS for the current fiscal year.

Darden Restaurants Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Thursday, April 10th. Darden Restaurants’s dividend payout ratio is currently 64.15%.

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.