Moneta Group Investment Advisors LLC boosted its position in Darden Restaurants, Inc. (NYSE:DRI) by 92.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,640 shares of the restaurant operator’s stock after acquiring an additional 790 shares during the period. Moneta Group Investment Advisors LLC’s holdings in Darden Restaurants were worth $176,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in DRI. Neuberger Berman Group LLC grew its holdings in Darden Restaurants by 3.7% in the 1st quarter. Neuberger Berman Group LLC now owns 33,457 shares of the restaurant operator’s stock worth $2,852,000 after acquiring an additional 1,207 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Darden Restaurants by 50.0% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 60,000 shares of the restaurant operator’s stock valued at $5,115,000 after purchasing an additional 20,000 shares in the last quarter. US Bancorp DE boosted its stake in shares of Darden Restaurants by 1.4% during the 1st quarter. US Bancorp DE now owns 66,055 shares of the restaurant operator’s stock valued at $5,632,000 after purchasing an additional 903 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Darden Restaurants by 96.1% during the 1st quarter. Teacher Retirement System of Texas now owns 67,665 shares of the restaurant operator’s stock valued at $5,768,000 after purchasing an additional 33,154 shares in the last quarter. Finally, Systematic Financial Management LP boosted its stake in shares of Darden Restaurants by 57.8% during the 1st quarter. Systematic Financial Management LP now owns 282,769 shares of the restaurant operator’s stock valued at $24,106,000 after purchasing an additional 103,624 shares in the last quarter. 89.45% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP John W. Madonna sold 700 shares of Darden Restaurants stock in a transaction dated Monday, June 25th. The shares were sold at an average price of $109.21, for a total transaction of $76,447.00. Following the completion of the transaction, the senior vice president now directly owns 706 shares of the company’s stock, valued at approximately $77,102.26. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Douglas J. Milanes sold 2,186 shares of Darden Restaurants stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $111.06, for a total transaction of $242,777.16. Following the transaction, the senior vice president now directly owns 792 shares of the company’s stock, valued at $87,959.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 182,236 shares of company stock valued at $19,609,826. 0.65% of the stock is currently owned by corporate insiders.

A number of brokerages have recently weighed in on DRI. Robert W. Baird lowered shares of Darden Restaurants from an “outperform” rating to a “neutral” rating in a research note on Monday, September 10th. Argus lifted their target price on shares of Darden Restaurants to $240.00 and gave the company a “buy” rating in a research note on Thursday, September 13th. Morgan Stanley lifted their target price on shares of Darden Restaurants from $103.00 to $110.00 and gave the company an “equal weight” rating in a research note on Thursday, September 13th. Goldman Sachs Group raised shares of Darden Restaurants from a “neutral” rating to a “buy” rating and lifted their target price for the company from $106.00 to $130.00 in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Finally, Oppenheimer lifted their target price on shares of Darden Restaurants from $115.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, September 5th. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $118.09.

Shares of NYSE DRI opened at $117.98 on Tuesday. Darden Restaurants, Inc. has a 1 year low of $77.55 and a 1 year high of $120.93. The stock has a market cap of $14.71 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 2.31 and a beta of 0.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.25.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Thursday, June 21st. The restaurant operator reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. Darden Restaurants had a net margin of 7.38% and a return on equity of 29.02%. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the company posted $0.99 EPS. Darden Restaurants’s revenue was up 10.3% on a year-over-year basis. research analysts forecast that Darden Restaurants, Inc. will post 5.51 earnings per share for the current fiscal year.

About Darden Restaurants

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.

Read More: Price to Earnings Ratio (PE) Basics

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

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