Mandatum Life Insurance Co Ltd Trims Position in Darden Restaurants, Inc. (DRI)
Mandatum Life Insurance Co Ltd cut its stake in Darden Restaurants, Inc. (NYSE:DRI) by 57.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,546 shares of the restaurant operator’s stock after selling 6,098 shares during the period. Mandatum Life Insurance Co Ltd’s holdings in Darden Restaurants were worth $358,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. State of Tennessee Treasury Department lifted its position in Darden Restaurants by 162.3% in the second quarter. State of Tennessee Treasury Department now owns 121,896 shares of the restaurant operator’s stock valued at $11,025,000 after acquiring an additional 75,421 shares during the last quarter. Chicago Equity Partners LLC lifted its position in Darden Restaurants by 589.5% in the second quarter. Chicago Equity Partners LLC now owns 41,230 shares of the restaurant operator’s stock valued at $3,729,000 after acquiring an additional 35,250 shares during the last quarter. Wedbush Securities Inc. lifted its position in Darden Restaurants by 0.5% in the second quarter. Wedbush Securities Inc. now owns 3,195 shares of the restaurant operator’s stock valued at $289,000 after acquiring an additional 15 shares during the last quarter. Toronto Dominion Bank lifted its position in Darden Restaurants by 26.0% in the second quarter. Toronto Dominion Bank now owns 42,119 shares of the restaurant operator’s stock valued at $3,808,000 after acquiring an additional 8,694 shares during the last quarter. Finally, Eastern Bank purchased a new stake in Darden Restaurants in the third quarter valued at $2,327,000. 90.36% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Darden Restaurants from a “sell” rating to a “hold” rating in a research report on Monday, November 6th. BMO Capital Markets set a $80.00 price target on shares of Darden Restaurants and gave the company a “hold” rating in a research report on Thursday, October 19th. Argus cut shares of Darden Restaurants from a “buy” rating to a “hold” rating and set a $88.00 target price for the company. in a report on Tuesday, October 17th. Longbow Research assumed coverage on shares of Darden Restaurants in a report on Friday, October 13th. They issued a “neutral” rating for the company. Finally, ValuEngine cut shares of Darden Restaurants from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $87.59.
Shares of Darden Restaurants, Inc. (DRI) traded down $0.57 during trading on Thursday, hitting $79.76. 1,554,000 shares of the stock were exchanged, compared to its average volume of 1,605,276. Darden Restaurants, Inc. has a twelve month low of $71.01 and a twelve month high of $95.22. The company has a current ratio of 0.38, a quick ratio of 0.24 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $9,790.00, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 1.76 and a beta of 0.22.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.99. Darden Restaurants had a net margin of 6.60% and a return on equity of 26.06%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the business posted $0.88 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. equities analysts forecast that Darden Restaurants, Inc. will post 4.43 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were paid a dividend of $0.63 per share. The ex-dividend date was Friday, October 6th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.16%. Darden Restaurants’s dividend payout ratio (DPR) is 64.62%.
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Darden Restaurants Profile
Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
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