Ontario Teachers Pension Plan Board lessened its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 30.1% in the fourth quarter, HoldingsChannel reports. The firm owned 60,861 shares of the restaurant operator’s stock after selling 26,196 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Darden Restaurants were worth $5,844,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Advisor Partners LLC increased its holdings in Darden Restaurants by 47.8% during the 4th quarter. Advisor Partners LLC now owns 8,291 shares of the restaurant operator’s stock worth $821,000 after purchasing an additional 2,681 shares in the last quarter. Tredje AP fonden increased its holdings in Darden Restaurants by 11.0% during the 3rd quarter. Tredje AP fonden now owns 61,850 shares of the restaurant operator’s stock worth $4,873,000 after purchasing an additional 6,110 shares in the last quarter. Trust Department MB Financial Bank N A bought a new position in Darden Restaurants during the 4th quarter worth about $720,000. Eastern Bank bought a new position in Darden Restaurants during the 3rd quarter worth about $2,327,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in Darden Restaurants by 4.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,061,980 shares of the restaurant operator’s stock worth $83,663,000 after purchasing an additional 43,734 shares in the last quarter. Hedge funds and other institutional investors own 85.05% of the company’s stock.
In related news, insider Eugene I. Lee, Jr. sold 59,783 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $96.80, for a total value of $5,786,994.40. Following the completion of the sale, the insider now directly owns 164,396 shares in the company, valued at approximately $15,913,532.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ricardo Cardenas sold 10,783 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $97.17, for a total transaction of $1,047,784.11. Following the completion of the sale, the chief financial officer now owns 20,046 shares of the company’s stock, valued at $1,947,869.82. The disclosure for this sale can be found here. Insiders sold a total of 74,866 shares of company stock valued at $7,252,094 over the last quarter. 0.63% of the stock is currently owned by company insiders.
Shares of Darden Restaurants, Inc. (DRI) opened at $95.19 on Friday. Darden Restaurants, Inc. has a one year low of $73.81 and a one year high of $100.11. The stock has a market cap of $11,772.77, a PE ratio of 24.41, a P/E/G ratio of 1.85 and a beta of 0.16. The company has a quick ratio of 0.20, a current ratio of 0.34 and a debt-to-equity ratio of 0.47.
Darden Restaurants (NYSE:DRI) last issued its earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Darden Restaurants had a net margin of 6.46% and a return on equity of 26.24%. The business had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.85 billion. equities analysts predict that Darden Restaurants, Inc. will post 4.76 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were paid a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $2.52 annualized dividend and a yield of 2.65%. Darden Restaurants’s dividend payout ratio (DPR) is currently 64.62%.
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Darden Restaurants 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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