Darden Restaurants, Inc. (NYSE:DRI) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC lessened its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,670 shares of the restaurant operator’s stock after selling 2,580 shares during the quarter. Sanctuary Advisors LLC’s holdings in Darden Restaurants were worth $3,859,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its position in Darden Restaurants by 2.1% during the fourth quarter. Principal Financial Group Inc. now owns 154,438 shares of the restaurant operator’s stock valued at $28,832,000 after buying an additional 3,145 shares during the period. Americana Partners LLC grew its position in Darden Restaurants by 10.9% during the fourth quarter. Americana Partners LLC now owns 12,484 shares of the restaurant operator’s stock valued at $2,331,000 after buying an additional 1,229 shares during the period. J.W. Cole Advisors Inc. acquired a new stake in Darden Restaurants during the fourth quarter valued at $327,000. Allworth Financial LP grew its position in Darden Restaurants by 6.6% during the fourth quarter. Allworth Financial LP now owns 3,866 shares of the restaurant operator’s stock valued at $718,000 after buying an additional 239 shares during the period. Finally, Principal Securities Inc. lifted its holdings in Darden Restaurants by 17.5% during the fourth quarter. Principal Securities Inc. now owns 2,774 shares of the restaurant operator’s stock valued at $518,000 after purchasing an additional 414 shares in the last quarter. Institutional investors and hedge funds own 93.64% of the company’s stock.

Darden Restaurants Price Performance

Darden Restaurants stock opened at $191.12 on Friday. Darden Restaurants, Inc. has a 12-month low of $135.87 and a 12-month high of $201.94. The stock has a market cap of $22.39 billion, a P/E ratio of 21.89, a PEG ratio of 2.17 and a beta of 1.31. The company has a 50-day moving average price of $187.90 and a 200 day moving average price of $170.64. The company has a current ratio of 0.37, a quick ratio of 0.23 and a debt-to-equity ratio of 1.02.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Thursday, December 19th. The restaurant operator reported $2.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.03. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period last year, the business earned $1.84 earnings per share. Darden Restaurants’s revenue was up 6.0% compared to the same quarter last year. Sell-side analysts anticipate that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.

Darden Restaurants Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 10th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Friday, January 10th. Darden Restaurants’s dividend payout ratio is presently 64.15%.

Wall Street Analyst Weigh In

Several research firms have issued reports on DRI. BMO Capital Markets increased their price objective on shares of Darden Restaurants from $165.00 to $175.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Raymond James increased their price objective on shares of Darden Restaurants from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Morgan Stanley increased their price objective on shares of Darden Restaurants from $193.00 to $209.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. Robert W. Baird increased their price objective on shares of Darden Restaurants from $180.00 to $194.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Finally, Citigroup decreased their price objective on shares of Darden Restaurants from $209.00 to $206.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $192.52.

Insider Buying and Selling at Darden Restaurants

In related news, insider Todd Burrowes sold 15,783 shares of Darden Restaurants stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $183.03, for a total value of $2,888,762.49. Following the completion of the transaction, the insider now owns 46,288 shares in the company, valued at approximately $8,472,092.64. The trade was a 25.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Douglas J. Milanes sold 7,892 shares of Darden Restaurants stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $195.95, for a total transaction of $1,546,437.40. Following the completion of the transaction, the senior vice president now owns 3,914 shares of the company’s stock, valued at $766,948.30. This trade represents a 66.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,926 shares of company stock worth $9,850,129 over the last three months. Insiders own 0.58% of the company’s stock.

About Darden Restaurants

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.