Penserra Capital Management LLC Buys 213 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Penserra Capital Management LLC increased its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 54.3% during the third quarter, HoldingsChannel.com reports. The fund owned 605 shares of the restaurant operator’s stock after purchasing an additional 213 shares during the period. Penserra Capital Management LLC’s holdings in Darden Restaurants were worth $71,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. lifted its holdings in Darden Restaurants by 23.3% in the 2nd quarter. BlackRock Inc. now owns 13,792,587 shares of the restaurant operator’s stock worth $1,678,972,000 after purchasing an additional 2,605,688 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Darden Restaurants by 3.9% in the second quarter. Vanguard Group Inc. now owns 14,961,350 shares of the restaurant operator’s stock valued at $1,821,245,000 after purchasing an additional 559,649 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Darden Restaurants by 2,824.3% in the second quarter. Nuveen Asset Management LLC now owns 546,791 shares of the restaurant operator’s stock valued at $66,561,000 after purchasing an additional 528,093 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Darden Restaurants by 1,273.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 319,230 shares of the restaurant operator’s stock worth $38,850,000 after purchasing an additional 295,985 shares during the period. Finally, APG Asset Management N.V. increased its stake in shares of Darden Restaurants by 98.5% in the second quarter. APG Asset Management N.V. now owns 504,312 shares of the restaurant operator’s stock worth $53,908,000 after purchasing an additional 250,200 shares during the period. 90.12% of the stock is currently owned by institutional investors and hedge funds.

In other Darden Restaurants news, SVP Douglas J. Milanes sold 1,600 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $119.05, for a total value of $190,480.00. Following the sale, the senior vice president now directly owns 6,793 shares in the company, valued at $808,706.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Nana Mensah sold 1,103 shares of the company’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.

Shares of DRI opened at $118.47 on Wednesday. The stock has a market cap of $14.52 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 2.09 and a beta of 0.34. The company has a quick ratio of 0.30, a current ratio of 0.43 and a debt-to-equity ratio of 2.18. Darden Restaurants, Inc. has a 12 month low of $95.83 and a 12 month high of $128.41. The company has a 50-day moving average price of $113.24 and a two-hundred day moving average price of $118.86.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.02. Darden Restaurants had a return on equity of 31.37% and a net margin of 8.36%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company posted $1.34 EPS. The company’s revenue was up 3.5% compared to the same quarter last year. Equities research analysts expect that Darden Restaurants, Inc. will post 6.38 EPS for the current fiscal year.

Several analysts recently weighed in on DRI shares. Citigroup decreased their target price on Darden Restaurants from $144.00 to $138.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Wells Fargo & Co upped their price target on Darden Restaurants from $116.00 to $117.00 and gave the stock a “market perform” rating in a report on Thursday, September 12th. Piper Jaffray Companies reissued an “overweight” rating and issued a $128.00 price objective (up from $125.00) on shares of Darden Restaurants in a research report on Friday, September 20th. SunTrust Banks lowered their price objective on shares of Darden Restaurants from $141.00 to $139.00 and set a “buy” rating on the stock in a research note on Friday, September 20th. Finally, Barclays dropped their target price on shares of Darden Restaurants from $130.00 to $126.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Eleven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $128.34.

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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