Tredje AP fonden Cuts Position in Darden Restaurants, Inc. (NYSE:DRI)

Tredje AP fonden reduced its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 1.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,756 shares of the restaurant operator’s stock after selling 293 shares during the period. Tredje AP fonden’s holdings in Darden Restaurants were worth $2,838,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in DRI. Rise Advisors LLC raised its holdings in Darden Restaurants by 131.3% during the first quarter. Rise Advisors LLC now owns 155 shares of the restaurant operator’s stock worth $26,000 after purchasing an additional 88 shares during the last quarter. ESL Trust Services LLC acquired a new position in shares of Darden Restaurants during the 1st quarter worth $27,000. Meeder Asset Management Inc. purchased a new stake in shares of Darden Restaurants in the 2nd quarter worth about $27,000. Innealta Capital LLC acquired a new stake in Darden Restaurants in the 2nd quarter valued at about $31,000. Finally, Union Savings Bank increased its holdings in Darden Restaurants by 44.0% during the 4th quarter. Union Savings Bank now owns 216 shares of the restaurant operator’s stock valued at $35,000 after acquiring an additional 66 shares in the last quarter. 93.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DRI has been the topic of several recent research reports. Jefferies Financial Group downgraded shares of Darden Restaurants from a “hold” rating to an “underperform” rating and reduced their price target for the company from $154.00 to $124.00 in a report on Thursday, July 11th. Piper Sandler lowered their target price on Darden Restaurants from $163.00 to $159.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. KeyCorp cut their price target on Darden Restaurants from $177.00 to $170.00 and set an “overweight” rating for the company in a report on Thursday, June 13th. JPMorgan Chase & Co. decreased their price objective on Darden Restaurants from $176.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 28th. Finally, Evercore ISI cut 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 research note on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $170.18.

Insider Transactions at Darden Restaurants

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

Darden Restaurants Stock Performance

Shares of NYSE:DRI opened at $172.27 on Friday. The business has a 50-day moving average of $149.69 and a two-hundred day moving average of $153.39. The firm has a market capitalization of $20.56 billion, a PE ratio of 20.22, a P/E/G ratio of 1.76 and a beta of 1.30. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.38 and a quick ratio of 0.24. Darden Restaurants, Inc. has a 12 month low of $133.36 and a 12 month high of $176.84.

Darden Restaurants (NYSE:DRI) last posted its earnings results on Thursday, June 20th. The restaurant operator reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.04. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.97 billion. Darden Restaurants had a net margin of 9.02% and a return on equity of 49.82%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 EPS. As a group, research analysts forecast that Darden Restaurants, Inc. will post 9.47 earnings per share for the current year.

Darden Restaurants Company 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.