Nomura Asset Management Co. Ltd. Decreases Stock Holdings in Darden Restaurants, Inc. (NYSE:DRI)

Nomura Asset Management Co. Ltd. lessened its stake in Darden Restaurants, Inc. (NYSE:DRIFree Report) by 0.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,448 shares of the restaurant operator’s stock after selling 212 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Darden Restaurants were worth $5,660,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prime Capital Investment Advisors LLC grew its position in Darden Restaurants by 19.7% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 2,789 shares of the restaurant operator’s stock worth $458,000 after purchasing an additional 459 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Darden Restaurants in the 4th quarter valued at $17,202,000. Peddock Capital Advisors LLC raised its stake in Darden Restaurants by 1.1% in the 4th quarter. Peddock Capital Advisors LLC now owns 18,095 shares of the restaurant operator’s stock worth $2,973,000 after acquiring an additional 197 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Darden Restaurants by 7.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 968,029 shares of the restaurant operator’s stock valued at $159,047,000 after purchasing an additional 65,223 shares during the last quarter. Finally, Invera Wealth Advisors LLC purchased a new stake in Darden Restaurants during the 4th quarter valued at about $1,038,000. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Darden Restaurants Price Performance

NYSE:DRI opened at $146.03 on Thursday. The stock has a 50 day moving average of $154.56 and a two-hundred day moving average of $160.37. Darden Restaurants, Inc. has a 12 month low of $133.36 and a 12 month high of $176.84. The firm has a market cap of $17.43 billion, a P/E ratio of 17.12, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. 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:DRIGet Free Report) last posted its quarterly earnings results on Thursday, March 21st. The restaurant operator reported $2.62 earnings per share for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.01). Darden Restaurants had a return on equity of 49.94% and a net margin of 9.24%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.02 billion. During the same quarter in the previous year, the firm posted $2.34 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. On average, analysts expect that Darden Restaurants, Inc. will post 8.85 earnings per share for the current fiscal year.

Darden Restaurants announced that its board has authorized a stock buyback plan on Thursday, March 21st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the restaurant operator to buy up to 5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Darden Restaurants Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a dividend of $1.31 per share. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $5.24 dividend on an annualized basis and a yield of 3.59%. Darden Restaurants’s payout ratio is 61.43%.

Insiders Place Their Bets

In other Darden Restaurants news, SVP Matthew R. Broad sold 4,707 shares of the firm’s stock in a transaction on Thursday, April 25th. The stock was sold at an average price of $156.15, for a total value of $734,998.05. Following the completion of the sale, the senior vice president now directly owns 19,179 shares of the company’s stock, valued at approximately $2,994,800.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Darden Restaurants news, SVP Matthew R. Broad sold 4,707 shares of Darden Restaurants 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 transaction, the senior vice president now directly owns 19,179 shares of the company’s stock, valued at $2,994,800.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Melvin John Martin sold 7,673 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $165.52, for a total transaction of $1,270,034.96. Following the completion of the sale, the insider now directly owns 17,208 shares of the company’s stock, valued at approximately $2,848,268.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 13,599 shares of company stock valued at $2,197,891. Insiders own 0.85% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DRI shares. BMO Capital Markets upped their target price on Darden Restaurants from $160.00 to $165.00 and gave the company a “market perform” rating in a research report on Thursday, March 7th. Stephens started coverage on shares of Darden Restaurants in a report on Friday, April 12th. They set an “equal weight” rating and a $170.00 target price for the company. BTIG Research raised shares of Darden Restaurants from a “neutral” rating to a “buy” rating and set a $175.00 price target on the stock in a report on Friday, May 17th. Oppenheimer reduced their price objective on Darden Restaurants from $186.00 to $182.00 and set an “outperform” rating for the company in a research note on Friday, March 22nd. Finally, Citigroup lowered their target price on Darden Restaurants from $200.00 to $192.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Darden Restaurants currently has an average rating of “Moderate Buy” and a consensus target price of $177.95.

View Our Latest Analysis on Darden Restaurants

Darden Restaurants Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

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