Jefferies Group LLC Has $1.74 Million Stake in Darden Restaurants, Inc. (DRI)
Jefferies Group LLC lowered its stake in Darden Restaurants, Inc. (NYSE:DRI) by 56.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 18,074 shares of the restaurant operator’s stock after selling 23,326 shares during the quarter. Jefferies Group LLC’s holdings in Darden Restaurants were worth $1,735,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new stake in Darden Restaurants in the 4th quarter valued at $126,000. Grove Bank & Trust grew its stake in Darden Restaurants by 155.6% in the 3rd quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock valued at $145,000 after acquiring an additional 1,120 shares during the period. Cetera Advisor Networks LLC acquired a new stake in Darden Restaurants in the 4th quarter valued at $200,000. Texas Yale Capital Corp. acquired a new stake in Darden Restaurants in the 4th quarter valued at $205,000. Finally, Ifrah Financial Services Inc. acquired a new stake in Darden Restaurants in the 4th quarter valued at $208,000. 92.69% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Douglas J. Milanes sold 4,300 shares of Darden Restaurants stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $97.05, for a total transaction of $417,315.00. Following the transaction, the senior vice president now owns 7,513 shares in the company, valued at approximately $729,136.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Ricardo Cardenas sold 10,783 shares of Darden Restaurants stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $97.17, for a total value of $1,047,784.11. Following the transaction, the chief financial officer now owns 20,046 shares in the company, valued at approximately $1,947,869.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 74,866 shares of company stock worth $7,252,094. Insiders own 0.63% of the company’s stock.
Darden Restaurants (NYSE:DRI) last announced its earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.03. Darden Restaurants had a net margin of 6.46% and a return on equity of 26.24%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.85 billion. sell-side analysts forecast that Darden Restaurants, Inc. will post 4.76 earnings per share for the current year.
DRI has been the topic of a number of research analyst reports. Wells Fargo & Co reissued a “market perform” rating and issued a $99.00 price target (up previously from $92.00) on shares of Darden Restaurants in a research note on Tuesday, January 9th. Barclays reissued an “overweight” rating and issued a $116.00 price target (up previously from $108.00) on shares of Darden Restaurants in a research note on Tuesday, January 16th. Argus raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and lifted their price target for the company from $95.67 to $108.00 in a research note on Thursday, December 21st. Maxim Group reissued a “buy” rating and issued a $112.00 price target (up previously from $103.00) on shares of Darden Restaurants in a research note on Tuesday, January 9th. Finally, Credit Suisse Group reissued a “hold” rating and issued a $95.00 price target on shares of Darden Restaurants in a research note on Friday, January 12th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the company. Darden Restaurants has a consensus rating of “Hold” and a consensus price target of $96.73.
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About Darden Restaurants
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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