Ackerman Capital Advisors LLC lowered its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 25.0% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,000 shares of the restaurant operator’s stock after selling 1,000 shares during the period. Ackerman Capital Advisors LLC’s holdings in Darden Restaurants were worth $355,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of DRI. BlackRock Inc. raised its holdings in shares of Darden Restaurants by 23.3% during the 2nd quarter. BlackRock Inc. now owns 13,792,587 shares of the restaurant operator’s stock worth $1,678,972,000 after buying an additional 2,605,688 shares in the last quarter. Vanguard Group Inc. grew its position in Darden Restaurants by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 14,961,350 shares of the restaurant operator’s stock worth $1,821,245,000 after acquiring an additional 559,649 shares during the last quarter. Nuveen Asset Management LLC grew its position in Darden Restaurants by 2,824.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 546,791 shares of the restaurant operator’s stock worth $66,561,000 after acquiring an additional 528,093 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in Darden Restaurants by 1,273.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 319,230 shares of the restaurant operator’s stock worth $38,850,000 after acquiring an additional 295,985 shares during the last quarter. Finally, APG Asset Management N.V. grew its position in Darden Restaurants by 98.5% during the 2nd quarter. APG Asset Management N.V. now owns 504,312 shares of the restaurant operator’s stock worth $53,908,000 after acquiring an additional 250,200 shares during the last quarter. 91.30% of the stock is owned by institutional investors.

In other Darden Restaurants news, SVP Douglas J. Milanes sold 1,600 shares of the company’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $119.05, for a total value of $190,480.00. Following the sale, the senior vice president now owns 6,793 shares in the company, valued at approximately $808,706.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ricardo Cardenas sold 14,128 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $124.87, for a total value of $1,764,163.36. Following the completion of the sale, the chief financial officer now owns 23,848 shares in the company, valued at approximately $2,977,899.76. The disclosure for this sale can be found here. Insiders sold a total of 28,728 shares of company stock worth $3,565,803 in the last quarter. Corporate insiders own 0.47% of the company’s stock.

Shares of NYSE DRI traded down $1.28 during trading on Wednesday, reaching $112.66. The company had a trading volume of 113,508 shares, compared to its average volume of 1,299,847. The company’s fifty day moving average price is $120.82 and its 200-day moving average price is $120.35. Darden Restaurants, Inc. has a 12 month low of $95.83 and a 12 month high of $128.41. The stock has a market cap of $14.27 billion, a P/E ratio of 19.32, a PEG ratio of 2.06 and a beta of 0.36. The company has a quick ratio of 0.30, a current ratio of 0.43 and a debt-to-equity ratio of 2.18.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.36 by $0.02. Darden Restaurants had a return on equity of 31.37% and a net margin of 8.36%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the company posted $1.34 EPS. The business’s revenue was up 3.5% on a year-over-year basis. As a group, equities analysts predict that Darden Restaurants, Inc. will post 6.38 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.12%. Darden Restaurants’s dividend payout ratio (DPR) is presently 60.48%.

A number of equities research analysts recently weighed in on DRI shares. Evercore ISI started coverage on Darden Restaurants in a research report on Tuesday, June 11th. They set an “outperform” rating and a $135.00 price objective on the stock. Stephens lowered Darden Restaurants from an “overweight” rating to an “equal weight” rating and set a $121.75 price objective on the stock. in a research report on Friday, June 28th. Deutsche Bank started coverage on Darden Restaurants in a research report on Friday, June 28th. They set a “hold” rating and a $123.00 price objective on the stock. Maxim Group set a $126.00 price objective on Darden Restaurants and gave the stock a “hold” rating in a research report on Friday, September 13th. Finally, Wedbush restated a “hold” rating and set a $125.00 price objective on shares of Darden Restaurants in a research report on Thursday, August 29th. Eleven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Darden Restaurants presently has an average rating of “Buy” and a consensus target price of $126.85.

Darden Restaurants Profile

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 27, 2018, it owned and operated approximately 1,746 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Bahama Breeze, Seasons 52, and Eddie V's brands.

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Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

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