Darden Restaurants, Inc. (NYSE:DRI) Shares Acquired by Natixis Advisors L.P.

Natixis Advisors L.P. raised its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 486,156 shares of the restaurant operator's stock after purchasing an additional 15,532 shares during the period. Natixis Advisors L.P. owned about 0.41% of Darden Restaurants worth $79,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Commonwealth Equity Services LLC lifted its holdings in shares of Darden Restaurants by 3.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 34,638 shares of the restaurant operator's stock worth $4,961,000 after purchasing an additional 1,288 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Darden Restaurants by 16.2% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 27,291 shares of the restaurant operator's stock worth $3,909,000 after buying an additional 3,800 shares in the last quarter. Independent Advisor Alliance boosted its holdings in shares of Darden Restaurants by 11.5% in the third quarter. Independent Advisor Alliance now owns 6,589 shares of the restaurant operator's stock valued at $944,000 after acquiring an additional 678 shares in the last quarter. J.W. Cole Advisors Inc. bought a new position in shares of Darden Restaurants in the third quarter valued at approximately $258,000. Finally, GW Henssler & Associates Ltd. acquired a new position in shares of Darden Restaurants during the third quarter valued at approximately $367,000. 93.64% of the stock is owned by institutional investors and hedge funds.

Darden Restaurants Stock Performance

Darden Restaurants stock traded up $1.39 on Friday, reaching $149.25. 1,856,344 shares of the stock were exchanged, compared to its average volume of 1,176,370. The stock has a market cap of $17.81 billion, a PE ratio of 17.33, a PEG ratio of 1.66 and a beta of 1.27. The firm has a fifty day moving average price of $163.45 and a two-hundred day moving average price of $159.67. Darden Restaurants, Inc. has a twelve month low of $133.36 and a twelve month high of $176.84. The company has a current ratio of 0.39, a quick ratio of 0.25 and a debt-to-equity ratio of 0.63.

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

Darden Restaurants announced that its board has authorized a share repurchase program on Thursday, March 21st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the restaurant operator to reacquire up to 5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Darden Restaurants Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a $1.31 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $5.24 dividend on an annualized basis and a dividend yield of 3.51%. Darden Restaurants's dividend payout ratio is currently 61.43%.

Insider Transactions at Darden Restaurants

In other Darden Restaurants news, Director William S. Simon sold 1,219 shares of the business's stock in a transaction on Monday, April 8th. The shares were sold at an average price of $158.21, for a total value of $192,857.99. Following the sale, the director now owns 6,281 shares of the company's stock, valued at approximately $993,717.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Darden Restaurants news, SVP Matthew R. Broad sold 4,707 shares of the business's stock in a transaction dated Thursday, April 25th. The shares were sold at an average price of $156.15, for a total value of $734,998.05. Following the transaction, the senior vice president now directly owns 19,179 shares in the company, valued at $2,994,800.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director William S. Simon sold 1,219 shares of Darden Restaurants stock in a transaction that occurred 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 completion of the transaction, the director now owns 6,281 shares of the company's stock, valued at approximately $993,717.01. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,599 shares of company stock valued at $2,197,891. 0.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DRI shares. Morgan Stanley lowered their price objective on shares of Darden Restaurants from $184.00 to $180.00 and set an "overweight" rating on the stock in a research note on Friday, March 22nd. JPMorgan Chase & Co. raised their price objective on Darden Restaurants from $170.00 to $180.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 19th. Stephens initiated coverage on Darden Restaurants in a report on Friday, April 12th. They set an "equal weight" rating and a $170.00 price objective on the stock. Citigroup reduced their price objective on shares of Darden Restaurants from $200.00 to $192.00 and set a "buy" rating for the company in a research note on Friday, March 22nd. Finally, Oppenheimer dropped their target price on shares of Darden Restaurants from $186.00 to $182.00 and set an "outperform" rating on the stock in a research report on Friday, March 22nd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $178.85.

Darden Restaurants Company 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.

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