Huntington National Bank lowered its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 14.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,079 shares of the restaurant operator’s stock after selling 183 shares during the quarter. Huntington National Bank’s holdings in Darden Restaurants were worth $128,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Private Trust Co. NA raised its holdings in Darden Restaurants by 120.6% during the second quarter. Private Trust Co. NA now owns 7,950 shares of the restaurant operator’s stock worth $967,000 after purchasing an additional 4,346 shares in the last quarter. Dorsey Wright & Associates increased its holdings in Darden Restaurants by 9.3% in the second quarter. Dorsey Wright & Associates now owns 2,858 shares of the restaurant operator’s stock valued at $348,000 after buying an additional 243 shares in the last quarter. Fulton Bank N.A. increased its holdings in Darden Restaurants by 10.1% in the second quarter. Fulton Bank N.A. now owns 9,494 shares of the restaurant operator’s stock valued at $1,155,000 after buying an additional 870 shares in the last quarter. DNB Asset Management AS increased its holdings in Darden Restaurants by 30.1% in the second quarter. DNB Asset Management AS now owns 56,816 shares of the restaurant operator’s stock valued at $6,916,000 after buying an additional 13,158 shares in the last quarter. Finally, WINTON GROUP Ltd increased its holdings in Darden Restaurants by 28.7% in the second quarter. WINTON GROUP Ltd now owns 16,083 shares of the restaurant operator’s stock valued at $1,958,000 after buying an additional 3,582 shares in the last quarter. Institutional investors and hedge funds own 90.97% of the company’s stock.
In related news, SVP Douglas J. Milanes sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $119.05, for a total transaction of $190,480.00. Following the sale, the senior vice president now owns 6,793 shares in the company, valued at $808,706.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Nana Mensah sold 1,103 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $112.00, for a total transaction of $123,536.00. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.
Shares of DRI traded up $1.43 during mid-day trading on Friday, reaching $114.91. 867,932 shares of the company’s stock were exchanged, compared to its average volume of 1,289,022. The company has a quick ratio of 0.30, a current ratio of 0.43 and a debt-to-equity ratio of 2.18. The company has a 50-day simple moving average of $113.76 and a two-hundred day simple moving average of $119.36. Darden Restaurants, Inc. has a 52-week low of $95.83 and a 52-week high of $128.41. The company has a market cap of $13.83 billion, a price-to-earnings ratio of 19.74, a PEG ratio of 1.99 and a beta of 0.35.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $1.38 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.02. Darden Restaurants had a net margin of 8.36% and a return on equity of 31.37%. The business 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 $1.34 EPS. The company’s revenue was up 3.5% on a year-over-year basis. As a group, equities research analysts predict that Darden Restaurants, Inc. will post 6.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.06%. Darden Restaurants’s dividend payout ratio (DPR) is 60.48%.
Darden Restaurants Company 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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