Intech Investment Management LLC Has $1.09 Million Stock Position in Darden Restaurants, Inc. (NYSE:DRI)

Intech Investment Management LLC trimmed its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 50.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,848 shares of the restaurant operator’s stock after selling 6,042 shares during the period. Intech Investment Management LLC’s holdings in Darden Restaurants were worth $1,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of DRI. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Darden Restaurants during the third quarter valued at $682,000. Ontario Teachers Pension Plan Board acquired a new position in Darden Restaurants during the third quarter valued at $409,000. Massachusetts Financial Services Co. MA raised its position in Darden Restaurants by 111.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,469,083 shares of the restaurant operator’s stock valued at $241,121,000 after buying an additional 772,907 shares during the period. Eagle Asset Management Inc. raised its position in Darden Restaurants by 21.9% during the third quarter. Eagle Asset Management Inc. now owns 47,162 shares of the restaurant operator’s stock valued at $7,944,000 after buying an additional 8,480 shares during the period. Finally, Raymond James Trust N.A. raised its position in Darden Restaurants by 5.4% during the third quarter. Raymond James Trust N.A. now owns 26,268 shares of the restaurant operator’s stock valued at $4,311,000 after buying an additional 1,355 shares during the period. 93.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Douglas J. Milanes sold 7,892 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $195.95, for a total value of $1,546,437.40. Following the completion of the transaction, the senior vice president now directly owns 3,914 shares of the company’s stock, valued at approximately $766,948.30. This represents a 66.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Rajesh Vennam sold 7,228 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $181.71, for a total value of $1,313,399.88. Following the completion of the transaction, the chief financial officer now directly owns 10,262 shares of the company’s stock, valued at approximately $1,864,708.02. The trade was a 41.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,926 shares of company stock worth $9,850,129. 0.58% of the stock is currently owned by company insiders.

Darden Restaurants Price Performance

Shares of NYSE:DRI opened at $199.92 on Friday. The business has a 50 day moving average price of $192.08 and a 200 day moving average price of $176.73. The company has a quick ratio of 0.23, a current ratio of 0.37 and a debt-to-equity ratio of 1.02. Darden Restaurants, Inc. has a twelve month low of $135.87 and a twelve month high of $203.47. The company has a market cap of $23.42 billion, a price-to-earnings ratio of 22.90, a PEG ratio of 2.15 and a beta of 1.27.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Thursday, March 20th. The restaurant operator reported $2.80 EPS for the quarter, hitting analysts’ consensus estimates of $2.80. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.22 billion. During the same quarter last year, the company earned $2.60 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Research analysts predict that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.

Darden Restaurants Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be given a $1.40 dividend. The ex-dividend date is Thursday, April 10th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.80%. Darden Restaurants’s dividend payout ratio is currently 64.15%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on DRI shares. Morgan Stanley upped their target price on Darden Restaurants from $209.00 to $217.00 and gave the stock an “overweight” rating in a research report on Friday. TD Securities upped their target price on Darden Restaurants from $180.00 to $190.00 and gave the stock a “hold” rating in a research report on Friday. Sanford C. Bernstein raised Darden Restaurants from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $180.00 to $215.00 in a research report on Wednesday, January 22nd. Citigroup upped their target price on Darden Restaurants from $223.00 to $229.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Robert W. Baird upped their target price on Darden Restaurants from $192.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $201.36.

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.