Darden Restaurants, Inc. (NYSE:DRI) Shares Sold by Wambolt & Associates LLC

Wambolt & Associates LLC lowered its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,773 shares of the restaurant operator’s stock after selling 449 shares during the period. Wambolt & Associates LLC’s holdings in Darden Restaurants were worth $331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of DRI. MCF Advisors LLC lifted its stake in shares of Darden Restaurants by 50.9% during the fourth quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator’s stock valued at $33,000 after buying an additional 59 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Darden Restaurants by 2.5% during the 4th quarter. First Horizon Advisors Inc. now owns 2,418 shares of the restaurant operator’s stock worth $451,000 after purchasing an additional 59 shares during the period. KBC Group NV boosted its holdings in shares of Darden Restaurants by 0.5% during the fourth quarter. KBC Group NV now owns 13,371 shares of the restaurant operator’s stock worth $2,497,000 after purchasing an additional 60 shares during the last quarter. TIAA Trust National Association grew its position in shares of Darden Restaurants by 4.8% in the fourth quarter. TIAA Trust National Association now owns 1,401 shares of the restaurant operator’s stock valued at $262,000 after purchasing an additional 64 shares during the period. Finally, Lion Street Advisors LLC increased its stake in Darden Restaurants by 0.3% in the fourth quarter. Lion Street Advisors LLC now owns 20,142 shares of the restaurant operator’s stock valued at $3,760,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Darden Restaurants Price Performance

DRI stock opened at $207.43 on Wednesday. Darden Restaurants, Inc. has a one year low of $135.87 and a one year high of $210.47. The firm has a 50-day moving average of $193.09 and a two-hundred day moving average of $177.56. The firm has a market capitalization of $24.30 billion, a PE ratio of 23.76, a P/E/G ratio of 2.15 and a beta of 1.27. The company has a current ratio of 0.37, a quick ratio of 0.23 and a debt-to-equity ratio of 1.02.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Thursday, March 20th. The restaurant operator reported $2.80 EPS for the quarter, meeting the consensus estimate of $2.80. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. The business had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.22 billion. During the same quarter in the prior year, the firm earned $2.60 EPS. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts forecast that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.

Darden Restaurants Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.70%. The ex-dividend date is Thursday, April 10th. Darden Restaurants’s payout ratio is 63.13%.

Insider Buying and Selling

In other Darden Restaurants news, SVP Susan M. Connelly sold 9,264 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $184.68, for a total value of $1,710,875.52. Following the transaction, the senior vice president now owns 4,567 shares in the company, valued at approximately $843,433.56. This represents a 66.98 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas J. Milanes sold 7,892 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $195.95, for a total transaction 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 approximately $766,948.30. The trade was a 66.85 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,698 shares of company stock valued at $8,536,729. Corporate insiders own 0.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. The Goldman Sachs Group initiated coverage on shares of Darden Restaurants in a research report on Thursday, December 5th. They set a “neutral” rating and a $183.00 price target for the company. BMO Capital Markets increased their target price on Darden Restaurants from $175.00 to $190.00 and gave the stock a “market perform” rating in a research report on Friday, March 21st. Citigroup boosted their price target on Darden Restaurants from $223.00 to $229.00 and gave the company a “buy” rating in a research report on Friday, March 21st. TD Securities raised their price objective on Darden Restaurants from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, March 21st. Finally, Guggenheim boosted their target price on Darden Restaurants from $205.00 to $220.00 and gave the stock a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $202.08.

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.