Darden Restaurants, Inc. (NYSE:DRI) Stake Lowered by Trexquant Investment LP

Trexquant Investment LP trimmed its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 0.4% during the 1st quarter, HoldingsChannel.com reports. The firm owned 34,762 shares of the restaurant operator’s stock after selling 157 shares during the period. Trexquant Investment LP’s holdings in Darden Restaurants were worth $4,223,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Tyers Asset Management LLC increased its holdings in Darden Restaurants by 19.7% in the 1st quarter. Tyers Asset Management LLC now owns 114,212 shares of the restaurant operator’s stock valued at $13,874,000 after acquiring an additional 18,816 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Darden Restaurants by 64.1% in the 1st quarter. Lazard Asset Management LLC now owns 421,896 shares of the restaurant operator’s stock valued at $51,246,000 after acquiring an additional 164,729 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Darden Restaurants by 12.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 134,780 shares of the restaurant operator’s stock valued at $16,372,000 after acquiring an additional 14,550 shares during the last quarter. Teza Capital Management LLC bought a new stake in Darden Restaurants in the 1st quarter valued at $337,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Darden Restaurants in the 1st quarter valued at $1,669,000. Hedge funds and other institutional investors own 88.86% of the company’s stock.

In related news, SVP John W. Madonna sold 330 shares of Darden Restaurants stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $118.76, for a total transaction of $39,190.80. Following the completion of the transaction, the senior vice president now directly owns 1,680 shares of the company’s stock, valued at approximately $199,516.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eugene I. Lee, Jr. sold 73,152 shares of Darden Restaurants stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $118.61, for a total transaction of $8,676,558.72. Following the transaction, the insider now directly owns 190,025 shares of the company’s stock, valued at $22,538,865.25. The disclosure for this sale can be found here. Insiders own 0.65% of the company’s stock.

Shares of Darden Restaurants stock traded up $1.40 during trading hours on Tuesday, reaching $120.38. The company’s stock had a trading volume of 9,066 shares, compared to its average volume of 1,388,733. Darden Restaurants, Inc. has a one year low of $91.34 and a one year high of $125.33. The company has a quick ratio of 0.33, a current ratio of 0.48 and a debt-to-equity ratio of 0.40. The company has a market cap of $14.92 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.84 and a beta of 0.30.

Darden Restaurants (NYSE:DRI) last posted its earnings results on Thursday, March 21st. The restaurant operator reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.05. Darden Restaurants had a net margin of 8.08% and a return on equity of 30.28%. The firm had revenue of $2.25 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the firm posted $1.71 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, sell-side analysts expect that Darden Restaurants, Inc. will post 5.78 earnings per share for the current fiscal year.

A number of brokerages have issued reports on DRI. UBS Group began coverage on shares of Darden Restaurants in a report on Friday, April 26th. They issued a “buy” rating and a $133.00 price target on the stock. Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $133.00 price target on the stock in a report on Thursday, May 9th. Wedbush lifted their price target on shares of Darden Restaurants from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, May 23rd. Loop Capital lifted their price target on shares of Darden Restaurants to $140.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, BTIG Research lifted their price target on shares of Darden Restaurants to $134.00 and gave the company a “buy” rating in a report on Friday, March 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $130.21.

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About Darden Restaurants

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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