Argent Trust Co Has $533,000 Stock Position in Darden Restaurants, Inc. (NYSE:DRI)

Argent Trust Co cut its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 73.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,522 shares of the restaurant operator’s stock after selling 9,746 shares during the period. Argent Trust Co’s holdings in Darden Restaurants were worth $533,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Raymond James & Associates raised its stake in shares of Darden Restaurants by 4.8% in the second quarter. Raymond James & Associates now owns 2,308,144 shares of the restaurant operator’s stock worth $349,268,000 after purchasing an additional 105,433 shares during the last quarter. Wellington Management Group LLP grew its holdings in Darden Restaurants by 10.3% during the fourth quarter. Wellington Management Group LLP now owns 1,809,155 shares of the restaurant operator’s stock worth $297,244,000 after buying an additional 169,642 shares in the last quarter. Earnest Partners LLC raised its position in Darden Restaurants by 5.5% in the 1st quarter. Earnest Partners LLC now owns 1,572,642 shares of the restaurant operator’s stock valued at $262,867,000 after buying an additional 82,356 shares during the last quarter. Congress Asset Management Co. MA lifted its stake in Darden Restaurants by 0.5% during the 4th quarter. Congress Asset Management Co. MA now owns 1,418,592 shares of the restaurant operator’s stock valued at $233,075,000 after acquiring an additional 6,968 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Darden Restaurants by 13.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,141,974 shares of the restaurant operator’s stock worth $172,811,000 after acquiring an additional 132,643 shares during the last quarter. Institutional investors own 93.64% of the company’s stock.

Insider Activity

In related news, SVP Sarah H. King sold 15,941 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $147.06, for a total value of $2,344,283.46. Following the sale, the senior vice president now owns 447 shares in the company, valued at $65,735.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Sarah H. King sold 15,941 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $147.06, for a total value of $2,344,283.46. Following the transaction, the senior vice president now directly owns 447 shares in the company, valued at $65,735.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Melvin John Martin sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $141.09, for a total transaction of $352,725.00. Following the completion of the sale, the insider now directly owns 11,691 shares in the company, valued at $1,649,483.19. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

Darden Restaurants Stock Up 8.3 %

DRI stock opened at $172.27 on Friday. The stock has a 50-day simple moving average of $149.69 and a two-hundred day simple moving average of $153.39. Darden Restaurants, Inc. has a twelve month low of $133.36 and a twelve month high of $176.84. The firm has a market capitalization of $20.56 billion, a PE ratio of 20.22, a PEG ratio of 1.76 and a beta of 1.30. The company has a quick ratio of 0.24, a current ratio of 0.38 and a debt-to-equity ratio of 0.61.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, June 20th. The restaurant operator reported $2.65 EPS for the quarter, beating the consensus estimate of $2.61 by $0.04. Darden Restaurants had a net margin of 9.02% and a return on equity of 49.82%. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the previous year, the company earned $2.58 earnings per share. Darden Restaurants’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts predict that Darden Restaurants, Inc. will post 9.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DRI shares. Raymond James reiterated an “outperform” rating and issued a $160.00 target price on shares of Darden Restaurants in a report on Tuesday, August 20th. TD Cowen reissued a “hold” rating and set a $150.00 target price on shares of Darden Restaurants in a research report on Thursday. Stifel Nicolaus reduced their target price on Darden Restaurants from $190.00 to $180.00 and set a “buy” rating for the company in a report on Friday, June 21st. JPMorgan Chase & Co. dropped their price target on Darden Restaurants from $176.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, May 28th. Finally, Citigroup reduced their price objective on Darden Restaurants from $192.00 to $191.00 and set a “buy” rating for the company in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $170.18.

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.