Cetera Advisor Networks LLC Boosts Stake in Darden Restaurants, Inc. (NYSE:DRI)

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Cetera Advisor Networks LLC increased its stake in Darden Restaurants, Inc. (NYSE:DRI) by 224.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,152 shares of the restaurant operator’s stock after buying an additional 5,643 shares during the period. Cetera Advisor Networks LLC’s holdings in Darden Restaurants were worth $961,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Goelzer Investment Management Inc. lifted its holdings in shares of Darden Restaurants by 0.5% during the 3rd quarter. Goelzer Investment Management Inc. now owns 71,505 shares of the restaurant operator’s stock valued at $8,453,000 after buying an additional 389 shares during the period. Insight Wealth Strategies LLC lifted its holdings in shares of Darden Restaurants by 7.9% during the 3rd quarter. Insight Wealth Strategies LLC now owns 5,446 shares of the restaurant operator’s stock valued at $644,000 after buying an additional 401 shares during the period. Shoker Investment Counsel Inc. lifted its holdings in shares of Darden Restaurants by 1.4% during the 3rd quarter. Shoker Investment Counsel Inc. now owns 11,353 shares of the restaurant operator’s stock valued at $1,342,000 after buying an additional 157 shares during the period. Corient Capital Partners LLC bought a new position in Darden Restaurants in the 3rd quarter worth $518,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Darden Restaurants during the third quarter valued at $1,019,000. Institutional investors own 89.12% of the company’s stock.

Shares of NYSE DRI opened at $112.60 on Monday. The company has a 50-day moving average of $113.04 and a 200 day moving average of $119.21. Darden Restaurants, Inc. has a 12-month low of $95.83 and a 12-month high of $128.41. The company has a current ratio of 0.43, a quick ratio of 0.30 and a debt-to-equity ratio of 2.18. The stock has a market cap of $13.79 billion, a PE ratio of 19.19, a P/E/G ratio of 1.99 and a beta of 0.35.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $1.38 EPS for the quarter, topping the consensus estimate of $1.36 by $0.02. Darden Restaurants had a net margin of 8.36% and a return on equity of 31.37%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the business posted $1.34 EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts forecast that Darden Restaurants, Inc. will post 6.38 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.88 dividend. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $3.52 annualized dividend and a dividend yield of 3.13%. Darden Restaurants’s dividend payout ratio is currently 60.48%.

In other news, SVP Douglas J. Milanes sold 1,600 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $119.05, for a total value of $190,480.00. Following the transaction, the senior vice president now directly owns 6,793 shares in the company, valued at approximately $808,706.65. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nana Mensah sold 1,103 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $112.00, for a total transaction of $123,536.00. The disclosure for this sale can be found here. Corporate insiders own 0.47% of the company’s stock.

A number of equities research analysts have recently weighed in on DRI shares. Maxim Group set a $126.00 price objective on shares of Darden Restaurants and gave the company a “hold” rating in a report on Friday, September 13th. HSBC reissued a “neutral” rating on shares of Darden Restaurants in a report on Monday, October 28th. Wells Fargo & Co boosted their price objective on shares of Darden Restaurants from $116.00 to $117.00 and gave the company a “market perform” rating in a report on Thursday, September 12th. Hauck & Aufhaeuser reiterated a “buy” rating on shares of Darden Restaurants in a research report on Friday, October 25th. Finally, UBS Group reiterated a “neutral” rating on shares of Darden Restaurants in a research report on Tuesday, October 29th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $124.49.

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

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