CIBC Asset Management Inc increased its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 1.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,527 shares of the restaurant operator’s stock after purchasing an additional 244 shares during the quarter. CIBC Asset Management Inc’s holdings in Darden Restaurants were worth $2,008,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Teacher Retirement System of Texas lifted its stake in Darden Restaurants by 41.2% in the first quarter. Teacher Retirement System of Texas now owns 206,177 shares of the restaurant operator’s stock valued at $25,044,000 after buying an additional 60,135 shares during the last quarter. Dean Capital Investments Management LLC acquired a new position in shares of Darden Restaurants during the first quarter valued at $1,514,000. Mn Services Vermogensbeheer B.V. increased its holdings in shares of Darden Restaurants by 1.0% during the first quarter. Mn Services Vermogensbeheer B.V. now owns 68,043 shares of the restaurant operator’s stock valued at $8,265,000 after purchasing an additional 700 shares during the period. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Darden Restaurants by 3.8% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 12,273 shares of the restaurant operator’s stock valued at $1,491,000 after purchasing an additional 444 shares during the period. Finally, Chase Investment Counsel Corp acquired a new position in shares of Darden Restaurants during the first quarter valued at $822,000. Institutional investors own 91.35% of the company’s stock.

NYSE:DRI opened at $119.86 on Monday. The stock has a market cap of $14.74 billion, a P/E ratio of 24.92, a PEG ratio of 2.02 and a beta of 0.29. Darden Restaurants, Inc. has a 52-week low of $84.37 and a 52-week high of $124.00. The company has a current ratio of 0.48, a quick ratio of 0.33 and a debt-to-equity ratio of 0.40.

Darden Restaurants (NYSE:DRI) last released its earnings results on Thursday, March 21st. The restaurant operator reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.05. The firm had revenue of $2.25 billion for the quarter, compared to analyst estimates of $2.24 billion. Darden Restaurants had a return on equity of 30.28% and a net margin of 8.08%. Darden Restaurants’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.71 earnings per share. Sell-side analysts anticipate that Darden Restaurants, Inc. will post 5.78 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Tuesday, April 9th. Darden Restaurants’s payout ratio is currently 62.37%.

In related news, insider Eugene I. Lee, Jr. sold 73,152 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $118.61, for a total value of $8,676,558.72. Following the completion of the transaction, the insider now owns 190,025 shares in the company, valued at approximately $22,538,865.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John W. Madonna sold 330 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $118.76, for a total value of $39,190.80. Following the completion of the transaction, the senior vice president now owns 1,680 shares of the company’s stock, valued at approximately $199,516.80. The disclosure for this sale can be found here. 0.65% of the stock is owned by insiders.

A number of research analysts have recently commented on the company. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a report on Thursday, May 9th. Wells Fargo & Co raised their price target on Darden Restaurants from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Friday, March 22nd. BTIG Research raised their price target on Darden Restaurants to $134.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Mizuho raised their price target on Darden Restaurants from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Morgan Stanley raised their price target on Darden Restaurants from $112.00 to $121.00 and gave the company an “equal weight” rating in a report on Friday, March 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the stock. Darden Restaurants has an average rating of “Buy” and a consensus price target of $129.38.

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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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