State of Tennessee Department of Treasury Decreases Holdings in Darden Restaurants, Inc. (NYSE:DRI)

State of Tennessee Department of Treasury decreased its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 9.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,955 shares of the restaurant operator's stock after selling 2,684 shares during the quarter. State of Tennessee Department of Treasury's holdings in Darden Restaurants were worth $4,846,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Impact Investors Inc acquired a new stake in shares of Darden Restaurants during the fourth quarter valued at about $405,000. Comprehensive Financial Consultants Institutional Inc. increased its position in Darden Restaurants by 10.8% in the 4th quarter. Comprehensive Financial Consultants Institutional Inc. now owns 14,912 shares of the restaurant operator's stock valued at $2,784,000 after buying an additional 1,451 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in Darden Restaurants by 3.8% during the 4th quarter. Envestnet Asset Management Inc. now owns 358,891 shares of the restaurant operator's stock valued at $67,001,000 after purchasing an additional 13,074 shares in the last quarter. US Bancorp DE lifted its position in Darden Restaurants by 3.2% in the 4th quarter. US Bancorp DE now owns 146,460 shares of the restaurant operator's stock valued at $27,343,000 after acquiring an additional 4,543 shares in the last quarter. Finally, QV Investors Inc. raised its position in Darden Restaurants by 4.3% in the 4th quarter. QV Investors Inc. now owns 87,702 shares of the restaurant operator's stock valued at $16,373,000 after buying an additional 3,580 shares during the last quarter. Institutional investors and hedge funds own 93.64% of the company's stock.

Darden Restaurants Price Performance

NYSE DRI traded up $0.28 during trading hours on Thursday, reaching $200.92. 255,630 shares of the company's stock were exchanged, compared to its average volume of 1,279,501. The firm has a fifty day moving average of $197.03 and a 200-day moving average of $184.32. The company has a current ratio of 0.37, a quick ratio of 0.23 and a debt-to-equity ratio of 1.02. Darden Restaurants, Inc. has a one year low of $135.87 and a one year high of $211.00. The stock has a market cap of $23.51 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 2.15 and a beta of 0.93.

Darden Restaurants (NYSE:DRI - Get Free Report) last announced its quarterly earnings data on Thursday, March 20th. The restaurant operator reported $2.80 EPS for the quarter, hitting analysts' consensus estimates of $2.80. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.22 billion. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The company's revenue was up 6.2% on a year-over-year basis. During the same period last year, the company earned $2.60 earnings per share. On average, equities research analysts predict that Darden Restaurants, Inc. will post 9.52 earnings per share for the current fiscal year.

Darden Restaurants Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Thursday, April 10th. Darden Restaurants's dividend payout ratio (DPR) is currently 63.13%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Oppenheimer lifted their target price on Darden Restaurants from $218.00 to $230.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. Guggenheim upped their price target on shares of Darden Restaurants from $205.00 to $220.00 and gave the stock a "buy" rating in a report on Monday, March 24th. Morgan Stanley upped their target price on Darden Restaurants from $209.00 to $217.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Raymond James boosted their target price on Darden Restaurants from $200.00 to $210.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. Finally, Wedbush raised their price target on Darden Restaurants from $220.00 to $235.00 and gave the stock an "outperform" rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $201.38.

Insiders Place Their Bets

In other Darden Restaurants news, insider Laura B. Williamson sold 2,289 shares of Darden Restaurants stock in a transaction dated Wednesday, March 26th. The stock was sold at an average price of $207.26, for a total transaction of $474,418.14. Following the transaction, the insider now directly owns 10,056 shares of the company's stock, valued at approximately $2,084,206.56. The trade was a 18.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John W. Madonna sold 1,806 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $207.88, for a total transaction of $375,431.28. Following the sale, the senior vice president now directly owns 7,192 shares of the company's stock, valued at approximately $1,495,072.96. This trade represents a 20.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,613 shares of company stock valued at $5,121,492 in the last three months. 0.58% of the stock is currently owned by corporate insiders.

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.