Darden Restaurants, Inc. (DRI) Shares Bought by Robeco Institutional Asset Management B.V.

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Robeco Institutional Asset Management B.V. boosted its position in Darden Restaurants, Inc. (NYSE:DRI) by 0.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,238,763 shares of the restaurant operator’s stock after buying an additional 9,607 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Darden Restaurants were worth $137,741,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in Darden Restaurants by 3.8% in the second quarter. BlackRock Inc. now owns 11,054,427 shares of the restaurant operator’s stock valued at $1,183,487,000 after buying an additional 401,736 shares during the last quarter. Victory Capital Management Inc. increased its holdings in Darden Restaurants by 12.3% in the second quarter. Victory Capital Management Inc. now owns 2,621,385 shares of the restaurant operator’s stock valued at $280,646,000 after buying an additional 288,019 shares during the last quarter. Morgan Stanley increased its holdings in Darden Restaurants by 100.8% in the second quarter. Morgan Stanley now owns 1,520,183 shares of the restaurant operator’s stock valued at $162,751,000 after buying an additional 763,239 shares during the last quarter. Millennium Management LLC increased its holdings in Darden Restaurants by 290.8% in the second quarter. Millennium Management LLC now owns 1,287,465 shares of the restaurant operator’s stock valued at $137,836,000 after buying an additional 958,040 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in Darden Restaurants by 5.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,012,324 shares of the restaurant operator’s stock valued at $108,380,000 after buying an additional 53,292 shares during the last quarter. 89.43% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE DRI opened at $112.44 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.41 and a quick ratio of 0.26. The company has a market cap of $13.80 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 2.12 and a beta of 0.17. Darden Restaurants, Inc. has a 12-month low of $79.18 and a 12-month high of $124.00.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, September 20th. The restaurant operator reported $1.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.10. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. Darden Restaurants had a return on equity of 30.32% and a net margin of 7.84%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.99 earnings per share. On average, analysts predict that Darden Restaurants, Inc. will post 5.62 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $3.00 annualized dividend and a dividend yield of 2.67%. Darden Restaurants’s dividend payout ratio is presently 26.20%.

DRI has been the subject of several research analyst reports. Canaccord Genuity boosted their price objective on Darden Restaurants from $120.00 to $125.00 and gave the company a “buy” rating in a report on Friday, September 21st. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a report on Friday, October 5th. Maxim Group lowered Darden Restaurants from a “buy” rating to a “hold” rating and set a $112.00 target price for the company. in a report on Monday, July 16th. They noted that the move was a valuation call. Mizuho upped their target price on Darden Restaurants from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, September 21st. Finally, SunTrust Banks upped their target price on Darden Restaurants to $137.00 and gave the company a “buy” rating in a report on Friday, September 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the stock. Darden Restaurants has an average rating of “Buy” and a consensus target price of $119.04.

In other news, insider Eugene I. Lee, Jr. sold 60,688 shares of the business’s stock in a transaction that occurred on Wednesday, September 26th. The stock was sold at an average price of $112.63, for a total transaction of $6,835,289.44. Following the completion of the transaction, the insider now directly owns 147,561 shares in the company, valued at $16,619,795.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO David C. George sold 55,671 shares of the business’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $108.24, for a total value of $6,025,829.04. Following the transaction, the chief operating officer now owns 95,236 shares of the company’s stock, valued at $10,308,344.64. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

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Darden Restaurants Profile

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 27, 2018, it owned and operated approximately 1,746 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Bahama Breeze, Seasons 52, and Eddie V's brands.

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Want to see what other hedge funds are holding DRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darden Restaurants, Inc. (NYSE:DRI).

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

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