Stevens Capital Management LP Makes New $2.39 Million Investment in Darden Restaurants, Inc. (NYSE:DRI)

Stevens Capital Management LP acquired a new stake in shares of Darden Restaurants, Inc. (NYSE:DRI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 14,538 shares of the restaurant operator's stock, valued at approximately $2,389,000.

A number of other large investors also recently bought and sold shares of DRI. Fortitude Family Office LLC bought a new stake in shares of Darden Restaurants in the 4th quarter valued at about $29,000. Hartford Financial Management Inc. boosted its stake in Darden Restaurants by 65.1% in the fourth quarter. Hartford Financial Management Inc. now owns 180 shares of the restaurant operator's stock valued at $30,000 after acquiring an additional 71 shares in the last quarter. Tennessee Valley Asset Management Partners purchased a new position in Darden Restaurants in the fourth quarter worth $33,000. McGlone Suttner Wealth Management Inc. purchased a new position in Darden Restaurants in the fourth quarter worth $35,000. Finally, BKM Wealth Management LLC acquired a new position in shares of Darden Restaurants during the fourth quarter worth $41,000. Institutional investors own 93.64% of the company's stock.

Insider Activity at Darden Restaurants

In other Darden Restaurants news, Director William S. Simon sold 1,219 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $158.21, for a total transaction of $192,857.99. Following the transaction, the director now directly owns 6,281 shares of the company's stock, valued at $993,717.01. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director William S. Simon sold 1,219 shares of the business's stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $158.21, for a total transaction of $192,857.99. Following the completion of the sale, the director now owns 6,281 shares of the company's stock, valued at $993,717.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew R. Broad sold 4,707 shares of the firm's stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $156.15, for a total transaction of $734,998.05. Following the completion of the transaction, the senior vice president now directly owns 19,179 shares in the company, valued at $2,994,800.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,430 shares of company stock valued at $3,313,120. 0.85% of the stock is owned by company insiders.

Darden Restaurants Stock Performance

DRI stock traded down $0.44 during midday trading on Friday, hitting $156.10. 886,050 shares of the stock traded hands, compared to its average volume of 1,146,570. Darden Restaurants, Inc. has a 1-year low of $133.36 and a 1-year high of $176.84. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.39 and a quick ratio of 0.25. The stock's fifty day simple moving average is $164.55 and its 200-day simple moving average is $159.23. The firm has a market cap of $18.63 billion, a P/E ratio of 18.30, a PEG ratio of 1.72 and a beta of 1.25.

Darden Restaurants (NYSE:DRI - Get Free Report) last posted its earnings results on Thursday, March 21st. The restaurant operator reported $2.62 EPS for the quarter, missing analysts' consensus estimates of $2.63 by ($0.01). The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.02 billion. Darden Restaurants had a net margin of 9.24% and a return on equity of 49.94%. Darden Restaurants's revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business earned $2.34 earnings per share. On average, analysts expect that Darden Restaurants, Inc. will post 8.85 earnings per share for the current year.

Darden Restaurants announced that its Board of Directors has approved a stock buyback program on Thursday, March 21st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the restaurant operator to purchase up to 5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Darden Restaurants Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $1.31 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.36%. Darden Restaurants's dividend payout ratio (DPR) is 61.43%.

Analyst Upgrades and Downgrades

DRI has been the subject of a number of recent analyst reports. Citigroup lowered their price objective on Darden Restaurants from $200.00 to $192.00 and set a "buy" rating for the company in a research report on Friday, March 22nd. Stephens initiated coverage on Darden Restaurants in a research note on Friday, April 12th. They set an "equal weight" rating and a $170.00 price target on the stock. Morgan Stanley decreased their price objective on shares of Darden Restaurants from $184.00 to $180.00 and set an "overweight" rating for the company in a research report on Friday, March 22nd. StockNews.com downgraded shares of Darden Restaurants from a "buy" rating to a "hold" rating in a research report on Thursday, January 4th. Finally, Barclays upped their price target on shares of Darden Restaurants from $180.00 to $187.00 and gave the company an "overweight" rating in a research note on Wednesday, January 3rd. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Darden Restaurants has an average rating of "Moderate Buy" and an average price target of $178.85.

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.