WINTON GROUP Ltd Trims Stake in Darden Restaurants, Inc. $DRI

Key Points

• WINTON GROUP Ltd cut its Darden Restaurants stake by 83.6% in the fourth quarter, selling 28,516 shares and leaving it with 5,584 shares worth about $1.03 million.
• Several other institutional investors increased or initiated positions, and 93.64% of Darden’s stock is owned by hedge funds and other institutions.
• Analysts remain broadly positive on Darden Restaurants: the stock has a Moderate Buy consensus with an average price target of $226.88, while the company recently beat earnings expectations and pays a quarterly dividend of $1.50 per share.

WINTON GROUP Ltd reduced its stake in shares of Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 83.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,584 shares of the restaurant operator's stock after selling 28,516 shares during the quarter. WINTON GROUP Ltd's holdings in Darden Restaurants were worth $1,028,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Meridian Wealth Management LLC acquired a new stake in Darden Restaurants in the fourth quarter valued at approximately $2,404,000. Sanctuary Advisors LLC grew its holdings in Darden Restaurants by 33.0% in the fourth quarter. Sanctuary Advisors LLC now owns 23,473 shares of the restaurant operator's stock valued at $4,319,000 after purchasing an additional 5,830 shares during the period. JPMorgan Chase & Co. grew its holdings in Darden Restaurants by 78.4% in the third quarter. JPMorgan Chase & Co. now owns 2,666,919 shares of the restaurant operator's stock valued at $507,675,000 after purchasing an additional 1,171,890 shares during the period. Banco Santander S.A. acquired a new stake in Darden Restaurants in the third quarter valued at approximately $6,743,000. Finally, Intech Investment Management LLC grew its holdings in Darden Restaurants by 177.3% in the third quarter. Intech Investment Management LLC now owns 12,547 shares of the restaurant operator's stock valued at $2,388,000 after purchasing an additional 8,022 shares during the period. 93.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Douglas J. Milanes sold 3,620 shares of Darden Restaurants stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of $202.16, for a total transaction of $731,819.20. Following the transaction, the senior vice president owned 274 shares in the company, valued at approximately $55,391.84. This trade represents a 92.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Lindsay L. Koren sold 300 shares of Darden Restaurants stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $194.32, for a total value of $58,296.00. Following the transaction, the senior vice president owned 1,617 shares in the company, valued at approximately $314,215.44. The trade was a 15.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.49% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on DRI shares. Stephens raised their price objective on Darden Restaurants from $205.00 to $210.00 and gave the company an "equal weight" rating in a report on Friday, March 20th. Robert W. Baird raised their price objective on Darden Restaurants from $208.00 to $215.00 and gave the company a "neutral" rating in a report on Friday, March 20th. BTIG Research reaffirmed a "buy" rating and issued a $225.00 price target on shares of Darden Restaurants in a research note on Friday, March 20th. Bank of America lifted their price target on Darden Restaurants from $272.00 to $276.00 and gave the stock a "buy" rating in a research note on Friday, June 5th. Finally, Wells Fargo & Company lifted their price target on Darden Restaurants from $200.00 to $210.00 and gave the stock an "equal weight" rating in a research note on Friday, March 20th. Eighteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $226.88.

Darden Restaurants Stock Performance

Shares of NYSE:DRI opened at $200.66 on Wednesday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.39 and a quick ratio of 0.25. The business's 50 day moving average price is $197.68 and its 200-day moving average price is $197.95. The firm has a market capitalization of $22.98 billion, a PE ratio of 21.23, a P/E/G ratio of 1.75 and a beta of 0.60. Darden Restaurants, Inc. has a 1 year low of $169.00 and a 1 year high of $228.27.

Darden Restaurants (NYSE:DRI - Get Free Report) last issued its quarterly earnings results on Thursday, March 19th. The restaurant operator reported $2.95 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.94 by $0.01. The firm had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. Darden Restaurants had a return on equity of 53.54% and a net margin of 8.66%.The business's revenue was up 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.80 earnings per share. As a group, equities research analysts expect that Darden Restaurants, Inc. will post 10.61 earnings per share for the current fiscal year.

Darden Restaurants Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 10th were given a dividend of $1.50 per share. The ex-dividend date was Friday, April 10th. This represents a $6.00 dividend on an annualized basis and a yield of 3.0%. Darden Restaurants's dividend payout ratio (DPR) is presently 63.49%.

Darden Restaurants Company Profile

Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.

Darden's restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand's positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.

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