SG Americas Securities LLC Has $7.11 Million Stake in Darden Restaurants, Inc. (NYSE:DRI)

SG Americas Securities LLC trimmed its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 40.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,100 shares of the restaurant operator’s stock after selling 41,001 shares during the period. SG Americas Securities LLC’s holdings in Darden Restaurants were worth $7,105,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in DRI. Private Trust Co. NA boosted its stake in shares of Darden Restaurants by 120.6% in the 2nd quarter. Private Trust Co. NA now owns 7,950 shares of the restaurant operator’s stock valued at $967,000 after purchasing an additional 4,346 shares in the last quarter. Dorsey Wright & Associates raised its holdings in Darden Restaurants by 9.3% in the 2nd 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 during the last quarter. Fulton Bank N.A. raised its holdings in Darden Restaurants by 10.1% in the 2nd 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 during the last quarter. DNB Asset Management AS raised its holdings in Darden Restaurants by 30.1% in the 2nd 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 during the last quarter. Finally, WINTON GROUP Ltd raised its holdings in Darden Restaurants by 28.7% in the 2nd 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 during the last quarter. Hedge funds and other institutional investors own 90.97% of the company’s stock.

DRI traded up $1.43 during mid-day trading on Friday, reaching $114.91. 867,932 shares of the stock were exchanged, compared to its average volume of 1,289,022. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.30 and a current ratio of 0.43. The stock has a market capitalization of $13.83 billion, a PE ratio of 19.74, a price-to-earnings-growth ratio of 1.99 and a beta of 0.35. The company has a 50 day moving average price of $113.76 and a two-hundred day moving average price of $119.36. Darden Restaurants, Inc. has a 1 year low of $95.83 and a 1 year high of $128.41.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results 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. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.13 billion. Darden Restaurants had a net margin of 8.36% and a return on equity of 31.37%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.34 EPS. Sell-side analysts expect that Darden Restaurants, Inc. will post 6.38 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, October 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.06%. Darden Restaurants’s payout ratio is presently 60.48%.

In other news, SVP Douglas J. Milanes sold 1,600 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $119.05, for a total transaction of $190,480.00. Following the completion of the transaction, the senior vice president now directly owns 6,793 shares in the company, valued at $808,706.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Nana Mensah sold 1,103 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $112.00, for a total value of $123,536.00. The disclosure for this sale can be found here. 0.47% of the stock is owned by company insiders.

A number of research analysts recently issued reports on the stock. Wells Fargo & Co raised their price objective on shares of Darden Restaurants from $116.00 to $117.00 and gave the company a “market perform” rating in a report on Thursday, September 12th. Piper Jaffray Companies restated an “overweight” rating and set a $128.00 price target (up previously from $125.00) on shares of Darden Restaurants in a report on Friday, September 20th. ValuEngine lowered shares of Darden Restaurants from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Wedbush restated a “hold” rating and set a $125.00 price target on shares of Darden Restaurants in a report on Thursday, August 29th. Finally, Kepler Capital Markets restated a “neutral” rating on shares of Darden Restaurants in a report on Saturday, November 2nd. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. Darden Restaurants has a consensus rating of “Hold” and an average target price of $124.49.

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.

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

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