Raymond James Trust N.A. cut its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 16.3% during the fourth quarter, Holdings Channel reports. The fund owned 6,041 shares of the restaurant operator’s stock after selling 1,174 shares during the period. Raymond James Trust N.A.’s holdings in Darden Restaurants were worth $580,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DRI. D.A. Davidson & CO. lifted its holdings in Darden Restaurants by 1.7% during the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock worth $114,000 after buying an additional 21 shares in the last quarter. M&R Capital Management Inc. acquired a new position in Darden Restaurants during the 2nd quarter worth $108,000. Cerebellum GP LLC acquired a new position in Darden Restaurants during the 4th quarter worth $126,000. Moisand Fitzgerald Tamayo LLC acquired a new position in Darden Restaurants during the 3rd quarter worth $115,000. Finally, Grove Bank & Trust lifted its holdings in Darden Restaurants by 155.6% during the 3rd quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock worth $145,000 after buying an additional 1,120 shares in the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.

Several research analysts have issued reports on the company. Barclays reaffirmed an “overweight” rating and set a $116.00 price objective (up previously from $108.00) on shares of Darden Restaurants in a report on Tuesday, January 16th. BMO Capital Markets set a $99.00 price objective on Darden Restaurants and gave the stock a “hold” rating in a report on Friday, January 12th. Credit Suisse Group reaffirmed a “hold” rating and set a $95.00 price objective on shares of Darden Restaurants in a report on Friday, January 12th. SunTrust Banks set a $104.00 price objective on Darden Restaurants and gave the stock a “hold” rating in a report on Thursday, January 11th. Finally, Maxim Group reaffirmed a “buy” rating and set a $112.00 price objective (up previously from $103.00) on shares of Darden Restaurants in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $96.95.

In related news, insider Eugene I. Lee, Jr. sold 59,783 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $96.80, for a total transaction of $5,786,994.40. Following the sale, the insider now owns 164,396 shares of the company’s stock, valued at approximately $15,913,532.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Douglas J. Milanes sold 4,300 shares of the firm’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $97.05, for a total value of $417,315.00. Following the sale, the senior vice president now directly owns 7,513 shares in the company, valued at approximately $729,136.65. The disclosure for this sale can be found here. Insiders have sold a total of 74,866 shares of company stock worth $7,252,094 in the last ninety days. 0.63% of the stock is currently owned by company insiders.

Darden Restaurants, Inc. (NYSE DRI) opened at $95.08 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.34 and a quick ratio of 0.20. The firm has a market capitalization of $11,659.12, a price-to-earnings ratio of 22.36, a PEG ratio of 1.83 and a beta of 0.16. Darden Restaurants, Inc. has a 12 month low of $71.70 and a 12 month high of $100.11.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.85 billion. Darden Restaurants had a return on equity of 26.24% and a net margin of 6.46%. sell-side analysts forecast that Darden Restaurants, Inc. will post 4.76 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.65%. The ex-dividend date of this dividend was Tuesday, January 9th. Darden Restaurants’s payout ratio is presently 64.62%.

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

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