Qsemble Capital Management LP Makes New $2.77 Million Investment in Darden Restaurants, Inc. (NYSE:DRI)

Qsemble Capital Management LP purchased a new stake in Darden Restaurants, Inc. (NYSE:DRI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 18,283 shares of the restaurant operator’s stock, valued at approximately $2,767,000.

Several other large investors have also modified their holdings of the business. Union Savings Bank raised its stake in Darden Restaurants by 44.0% in the fourth quarter. Union Savings Bank now owns 216 shares of the restaurant operator’s stock worth $35,000 after buying an additional 66 shares in the last quarter. Cornerstone Wealth Group LLC raised its stake in Darden Restaurants by 0.4% in the first quarter. Cornerstone Wealth Group LLC now owns 16,550 shares of the restaurant operator’s stock worth $2,766,000 after buying an additional 66 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Darden Restaurants by 34.8% in the first quarter. EverSource Wealth Advisors LLC now owns 279 shares of the restaurant operator’s stock worth $43,000 after buying an additional 72 shares in the last quarter. GW Henssler & Associates Ltd. raised its stake in Darden Restaurants by 4.9% in the first quarter. GW Henssler & Associates Ltd. now owns 1,640 shares of the restaurant operator’s stock worth $274,000 after buying an additional 77 shares in the last quarter. Finally, United Community Bank raised its stake in Darden Restaurants by 1.3% in the first quarter. United Community Bank now owns 5,918 shares of the restaurant operator’s stock worth $989,000 after buying an additional 78 shares in the last quarter. Institutional investors own 93.64% of the company’s stock.

Darden Restaurants Stock Up 1.1 %

Shares of NYSE DRI opened at $157.37 on Thursday. The company has a 50 day simple moving average of $147.97 and a 200-day simple moving average of $153.75. The company has a market capitalization of $18.78 billion, a P/E ratio of 18.47, a P/E/G ratio of 1.76 and a beta of 1.30. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.38 and a quick ratio of 0.24. Darden Restaurants, Inc. has a 1 year low of $133.36 and a 1 year high of $176.84.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Thursday, June 20th. The restaurant operator reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.04. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.97 billion. Darden Restaurants had a net margin of 9.02% and a return on equity of 49.82%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.58 EPS. On average, equities research analysts predict that Darden Restaurants, Inc. will post 9.48 earnings per share for the current year.

Darden Restaurants Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Thursday, July 11th were issued a dividend of $1.29 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.28%. Darden Restaurants’s dividend payout ratio is currently 65.73%.

Analyst Upgrades and Downgrades

DRI has been the subject of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on shares of Darden Restaurants from $176.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, May 28th. Jefferies Financial Group downgraded Darden Restaurants from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $154.00 to $124.00 in a research report on Thursday, July 11th. Evercore ISI reduced their price target on Darden Restaurants from $170.00 to $165.00 and set an “in-line” rating on the stock in a research report on Thursday, June 13th. Bank of America upped their price target on Darden Restaurants from $180.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, June 21st. Finally, KeyCorp reduced their price target on Darden Restaurants from $177.00 to $170.00 and set an “overweight” rating on the stock in a research report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Darden Restaurants presently has an average rating of “Moderate Buy” and a consensus price target of $170.45.

Insider Transactions at Darden Restaurants

In related news, insider Melvin John Martin sold 2,500 shares of the stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $141.09, for a total transaction of $352,725.00. Following the completion of the transaction, the insider now owns 11,691 shares of the company’s stock, valued at approximately $1,649,483.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Sarah H. King sold 15,941 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $147.06, for a total transaction of $2,344,283.46. Following the completion of the transaction, the senior vice president now owns 447 shares of the company’s stock, valued at approximately $65,735.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Melvin John Martin sold 2,500 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $141.09, for a total transaction of $352,725.00. Following the transaction, the insider now directly owns 11,691 shares of the company’s stock, valued at approximately $1,649,483.19. The disclosure for this sale can be found here. 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.