Darden Restaurants, Inc. (NYSE:DRI) Holdings Lifted by Moody National Bank Trust Division

Moody National Bank Trust Division increased its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,973 shares of the restaurant operator’s stock after buying an additional 91 shares during the quarter. Moody National Bank Trust Division’s holdings in Darden Restaurants were worth $1,206,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Westwood Holdings Group Inc. bought a new stake in shares of Darden Restaurants in the 1st quarter valued at approximately $72,901,000. Norges Bank bought a new position in Darden Restaurants during the 4th quarter worth about $58,601,000. California Public Employees Retirement System grew its holdings in shares of Darden Restaurants by 129.6% in the 4th quarter. California Public Employees Retirement System now owns 553,721 shares of the restaurant operator’s stock valued at $90,976,000 after acquiring an additional 312,531 shares in the last quarter. Raymond James & Associates grew its holdings in shares of Darden Restaurants by 11.9% in the 1st quarter. Raymond James & Associates now owns 2,202,711 shares of the restaurant operator’s stock valued at $368,183,000 after acquiring an additional 234,410 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Darden Restaurants by 10.3% during the fourth quarter. Wellington Management Group LLP now owns 1,809,155 shares of the restaurant operator’s stock worth $297,244,000 after purchasing an additional 169,642 shares during the period. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Insider Buying and Selling

In other news, SVP Sarah H. King sold 15,941 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $147.06, for a total value of $2,344,283.46. Following the completion of the sale, the senior vice president now directly owns 447 shares of the company’s stock, valued at $65,735.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Sarah H. King sold 15,941 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $147.06, for a total transaction of $2,344,283.46. Following the completion of the sale, the senior vice president now directly owns 447 shares of the company’s stock, valued at $65,735.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider R Broad Matthew 5,171 shares of the business’s stock in a transaction on Monday, July 29th. The disclosure for this trade can be found here. Insiders own 0.85% of the company’s stock.

Darden Restaurants Price Performance

Shares of Darden Restaurants stock traded down $2.71 during trading hours on Monday, reaching $141.32. 1,662,188 shares of the company’s stock were exchanged, compared to its average volume of 1,230,659. The business has a fifty day moving average of $146.92 and a two-hundred day moving average of $156.01. Darden Restaurants, Inc. has a 1 year low of $133.36 and a 1 year high of $176.84. The company has a quick ratio of 0.24, a current ratio of 0.38 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $16.87 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 1.62 and a beta of 1.29.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Thursday, June 20th. The restaurant operator reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.04. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Darden Restaurants had a net margin of 9.02% and a return on equity of 49.82%. The business’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.58 earnings per share. As a group, research analysts predict that Darden Restaurants, Inc. will post 9.48 earnings per share for the current fiscal year.

Darden Restaurants Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Investors of record on Thursday, July 11th will be paid a dividend of $1.29 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.65%. Darden Restaurants’s payout ratio is 65.73%.

Analyst Ratings Changes

Several brokerages have issued reports on DRI. TD Cowen downgraded shares of Darden Restaurants from a “buy” rating to a “hold” rating and cut their price objective for the stock from $170.00 to $150.00 in a research report on Tuesday, July 23rd. Stephens restated an “equal weight” rating and issued a $165.00 target price on shares of Darden Restaurants in a report on Friday, July 19th. Barclays lowered their target price on shares of Darden Restaurants from $187.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Argus reduced their target price on shares of Darden Restaurants from $186.00 to $175.00 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Finally, KeyCorp dropped their price target on shares of Darden Restaurants from $177.00 to $170.00 and set an “overweight” rating on the stock in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Darden Restaurants presently has an average rating of “Moderate Buy” and a consensus price target of $170.95.

Darden Restaurants Profile

Darden Restaurants, Inc, together with its subsidiaries, owns and operates full-service restaurants in the United States and Canada. It operates under Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V's Prime Seafood, and Capital Burger brand names.