Ascent Group LLC Has $1.26 Million Stake in Darden Restaurants, Inc. (NYSE:DRI)

Ascent Group LLC boosted its position in shares of Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 114.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,745 shares of the restaurant operator's stock after buying an additional 3,598 shares during the period. Ascent Group LLC's holdings in Darden Restaurants were worth $1,259,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of Darden Restaurants during the 4th quarter worth $642,967,000. Norges Bank bought a new position in shares of Darden Restaurants in the fourth quarter worth about $75,137,000. Junto Capital Management LP acquired a new stake in shares of Darden Restaurants in the 4th quarter valued at approximately $48,919,000. Royal Bank of Canada grew its holdings in shares of Darden Restaurants by 145.2% during the 4th quarter. Royal Bank of Canada now owns 385,029 shares of the restaurant operator's stock valued at $71,883,000 after purchasing an additional 227,977 shares during the last quarter. Finally, Bank of Montreal Can increased its position in Darden Restaurants by 184.3% during the 4th quarter. Bank of Montreal Can now owns 297,938 shares of the restaurant operator's stock worth $55,622,000 after purchasing an additional 193,134 shares in the last quarter. 93.64% of the stock is currently owned by institutional investors and hedge funds.

Darden Restaurants Trading Down 0.1%

Shares of DRI stock traded down $0.19 during mid-day trading on Thursday, hitting $213.57. The company's stock had a trading volume of 1,623,714 shares, compared to its average volume of 1,320,293. The company has a market cap of $24.99 billion, a PE ratio of 24.46, a P/E/G ratio of 2.15 and a beta of 0.74. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.23 and a current ratio of 0.37. The company's fifty day simple moving average is $201.88 and its 200-day simple moving average is $190.17. Darden Restaurants, Inc. has a 52 week low of $135.87 and a 52 week high of $215.91.

Darden Restaurants (NYSE:DRI - Get Free Report) last released its earnings results on Thursday, March 20th. The restaurant operator reported $2.80 EPS for the quarter, hitting the consensus estimate of $2.80. The business had revenue of $3.16 billion during the quarter, compared to analysts' expectations of $3.22 billion. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The firm's revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.60 earnings per share. As a group, equities research analysts expect that Darden Restaurants, Inc. will post 9.52 earnings per share for the current fiscal year.

Darden Restaurants Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th were paid a $1.40 dividend. The ex-dividend date was Thursday, April 10th. This represents a $5.60 annualized dividend and a dividend yield of 2.62%. Darden Restaurants's dividend payout ratio is currently 63.13%.

Insider Activity at Darden Restaurants

In related news, insider Laura B. Williamson sold 2,289 shares of the business's stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $207.26, for a total value of $474,418.14. Following the completion of the sale, the insider now directly owns 10,056 shares of the company's stock, valued at $2,084,206.56. The trade was a 18.54% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ricardo Cardenas sold 20,518 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $208.19, for a total value of $4,271,642.42. Following the completion of the transaction, the chief executive officer now owns 58,836 shares in the company, valued at approximately $12,249,066.84. The trade was a 25.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,613 shares of company stock worth $5,121,492 in the last quarter. Company insiders own 0.58% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Morgan Stanley boosted their target price on shares of Darden Restaurants from $209.00 to $217.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. UBS Group boosted their price objective on Darden Restaurants from $210.00 to $225.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Wedbush upped their target price on Darden Restaurants from $220.00 to $235.00 and gave the stock an "outperform" rating in a report on Friday, March 21st. Robert W. Baird cut their price target on Darden Restaurants from $210.00 to $192.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, Citigroup boosted their price target on Darden Restaurants from $223.00 to $229.00 and gave the stock a "buy" rating in a report on Friday, March 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $201.38.

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.