Commerzbank Aktiengesellschaft FI Has $232,000 Stock Position in Darden Restaurants, Inc. (NYSE:DRI)

Commerzbank Aktiengesellschaft FI lowered its holdings in Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 90.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,112 shares of the restaurant operator's stock after selling 10,022 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Darden Restaurants were worth $232,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in DRI. HighTower Advisors LLC increased its position in shares of Darden Restaurants by 10.0% in the fourth quarter. HighTower Advisors LLC now owns 17,448 shares of the restaurant operator's stock worth $3,257,000 after acquiring an additional 1,579 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Darden Restaurants by 4.2% during the 4th quarter. Commonwealth Equity Services LLC now owns 34,788 shares of the restaurant operator's stock valued at $6,495,000 after purchasing an additional 1,415 shares in the last quarter. Cibc World Markets Corp grew its holdings in Darden Restaurants by 14.8% during the 4th quarter. Cibc World Markets Corp now owns 18,534 shares of the restaurant operator's stock valued at $3,460,000 after purchasing an additional 2,387 shares in the last quarter. Generali Asset Management SPA SGR acquired a new stake in Darden Restaurants during the 4th quarter valued at $423,000. Finally, Vinva Investment Management Ltd grew its holdings in Darden Restaurants by 10.3% during the 4th quarter. Vinva Investment Management Ltd now owns 5,407 shares of the restaurant operator's stock valued at $1,010,000 after purchasing an additional 504 shares in the last quarter. Institutional investors and hedge funds own 93.64% of the company's stock.

Darden Restaurants Stock Performance

DRI stock traded up $2.32 on Friday, reaching $209.45. 1,052,164 shares of the company were exchanged, compared to its average volume of 1,342,483. Darden Restaurants, Inc. has a 12 month low of $138.21 and a 12 month high of $228.27. The stock's fifty day moving average price is $214.38 and its 200 day moving average price is $201.45. The firm has a market capitalization of $24.51 billion, a PE ratio of 23.59, a PEG ratio of 2.03 and a beta of 0.74. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.42 and a quick ratio of 0.28.

Darden Restaurants (NYSE:DRI - Get Free Report) last announced its earnings results on Friday, June 20th. The restaurant operator reported $2.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.01. The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.25 billion. Darden Restaurants had a net margin of 8.69% and a return on equity of 51.81%. Darden Restaurants's revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.65 earnings per share. On average, research analysts anticipate that Darden Restaurants, Inc. will post 9.52 EPS for the current fiscal year.

Darden Restaurants Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be given a dividend of $1.50 per share. This is an increase from Darden Restaurants's previous quarterly dividend of $1.40. The ex-dividend date is Thursday, July 10th. This represents a $6.00 annualized dividend and a yield of 2.86%. Darden Restaurants's dividend payout ratio is 67.57%.

Darden Restaurants announced that its board has initiated a share buyback plan on Friday, June 20th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the restaurant operator to purchase up to 3.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

DRI has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Darden Restaurants from $215.00 to $235.00 and gave the company an "overweight" rating in a research note on Wednesday, June 18th. Melius started coverage on shares of Darden Restaurants in a research report on Monday, July 14th. They issued a "hold" rating and a $240.00 price target on the stock. Stephens raised their price target on shares of Darden Restaurants from $200.00 to $212.00 and gave the stock an "equal weight" rating in a research report on Monday, June 23rd. Barclays raised their price target on shares of Darden Restaurants from $235.00 to $255.00 and gave the stock an "overweight" rating in a research report on Monday, June 23rd. Finally, Oppenheimer raised their price target on shares of Darden Restaurants from $230.00 to $250.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 18th. Twelve research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Darden Restaurants has an average rating of "Moderate Buy" and an average target price of $225.19.

Insider Buying and Selling at Darden Restaurants

In other Darden Restaurants news, SVP Matthew R. Broad sold 6,949 shares of the business's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $218.00, for a total transaction of $1,514,882.00. Following the completion of the sale, the senior vice president directly owned 14,367 shares of the company's stock, valued at approximately $3,132,006. The trade was a 32.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Rajesh Vennam sold 5,780 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $222.22, for a total transaction of $1,284,431.60. Following the completion of the sale, the chief financial officer owned 4,555 shares in the company, valued at $1,012,212.10. This represents a 55.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,714 shares of company stock worth $9,609,494 over the last quarter. Corporate insiders own 0.58% of the company's stock.

About Darden Restaurants

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.