Darden Restaurants, Inc. (NYSE:DRI) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 6.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 21,151 shares of the restaurant operator’s stock after selling 1,372 shares during the period. Mutual of America Capital Management LLC’s holdings in Darden Restaurants were worth $3,475,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quarry LP boosted its holdings in Darden Restaurants by 980.0% in the 2nd quarter. Quarry LP now owns 162 shares of the restaurant operator’s stock valued at $27,000 after purchasing an additional 147 shares during the last quarter. Fortitude Family Office LLC acquired a new position in Darden Restaurants in the 4th quarter valued at about $29,000. Resurgent Financial Advisors LLC acquired a new position in Darden Restaurants in the 4th quarter valued at about $29,000. McGlone Suttner Wealth Management Inc. acquired a new position in Darden Restaurants in the 4th quarter valued at about $35,000. Finally, Clear Street Markets LLC boosted its holdings in Darden Restaurants by 93.5% in the 1st quarter. Clear Street Markets LLC now owns 240 shares of the restaurant operator’s stock valued at $37,000 after purchasing an additional 116 shares during the last quarter. 93.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DRI has been the topic of several recent analyst reports. Morgan Stanley decreased their target price on shares of Darden Restaurants from $184.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, March 22nd. Barclays upped their price objective on shares of Darden Restaurants from $180.00 to $187.00 and gave the stock an “overweight” rating in a report on Wednesday, January 3rd. Stifel Nicolaus upped their price objective on shares of Darden Restaurants from $185.00 to $190.00 and gave the stock a “buy” rating in a report on Tuesday, March 19th. Wedbush decreased their price objective on shares of Darden Restaurants from $187.00 to $181.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Finally, StockNews.com lowered shares of Darden Restaurants from a “buy” rating to a “hold” rating in a report on Thursday, January 4th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $178.85.

Darden Restaurants Trading Down 0.8 %

Shares of NYSE:DRI opened at $152.97 on Thursday. Darden Restaurants, Inc. has a 52 week low of $133.36 and a 52 week high of $176.84. The company’s 50 day moving average is $165.85 and its two-hundred day moving average is $158.62. The company has a current ratio of 0.39, a quick ratio of 0.25 and a debt-to-equity ratio of 0.63. The company has a market cap of $18.26 billion, a PE ratio of 17.93, a P/E/G ratio of 1.69 and a beta of 1.25.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Thursday, March 21st. The restaurant operator reported $2.62 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.01). Darden Restaurants had a net margin of 9.24% and a return on equity of 49.94%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.02 billion. During the same period in the prior year, the company posted $2.34 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities analysts predict that Darden Restaurants, Inc. will post 8.85 earnings per share for the current fiscal year.

Darden Restaurants Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $1.31 dividend. This represents a $5.24 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Tuesday, April 9th. Darden Restaurants’s payout ratio is 61.43%.

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

Insider Activity

In other news, Director William S. Simon sold 1,219 shares of the company’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 completion of the transaction, the director now owns 6,281 shares in the company, valued at approximately $993,717.01. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Matthew R. Broad sold 6,831 shares of the company’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $163.26, for a total value of $1,115,229.06. Following the completion of the transaction, the senior vice president now owns 19,141 shares in the company, valued at approximately $3,124,959.66. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director William S. Simon sold 1,219 shares of the company’s 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 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 sold 15,723 shares of company stock worth $2,578,122. Corporate insiders own 0.85% of the company’s stock.

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.