Landmark Bank Sells 243 Shares of Darden Restaurants, Inc. (NYSE:DRI)

Landmark Bank cut its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 12.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,705 shares of the restaurant operator’s stock after selling 243 shares during the quarter. Landmark Bank’s holdings in Darden Restaurants were worth $207,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Wetherby Asset Management Inc. raised its holdings in Darden Restaurants by 1.5% during the second quarter. Wetherby Asset Management Inc. now owns 5,334 shares of the restaurant operator’s stock valued at $649,000 after acquiring an additional 81 shares during the period. NuWave Investment Management LLC grew its position in shares of Darden Restaurants by 34.5% during the second quarter. NuWave Investment Management LLC now owns 351 shares of the restaurant operator’s stock valued at $43,000 after purchasing an additional 90 shares in the last quarter. Wealthfront Advisers LLC grew its position in shares of Darden Restaurants by 2.9% during the first quarter. Wealthfront Advisers LLC now owns 3,941 shares of the restaurant operator’s stock valued at $479,000 after purchasing an additional 112 shares in the last quarter. Flagship Harbor Advisors LLC grew its position in shares of Darden Restaurants by 20.8% during the first quarter. Flagship Harbor Advisors LLC now owns 655 shares of the restaurant operator’s stock valued at $79,000 after purchasing an additional 113 shares in the last quarter. Finally, Leisure Capital Management grew its position in shares of Darden Restaurants by 1.8% during the first quarter. Leisure Capital Management now owns 6,534 shares of the restaurant operator’s stock valued at $794,000 after purchasing an additional 117 shares in the last quarter. 89.16% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Daniel J. Kiernan sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $123.92, for a total transaction of $1,487,040.00. Following the completion of the sale, the insider now owns 14,577 shares of the company’s stock, valued at approximately $1,806,381.84. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP John W. Madonna sold 1,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $124.12, for a total transaction of $124,120.00. Following the sale, the senior vice president now directly owns 8,726 shares of the company’s stock, valued at approximately $1,083,071.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,907 shares of company stock valued at $11,975,585. Insiders own 0.47% of the company’s stock.

A number of research analysts have recently weighed in on the company. KeyCorp assumed coverage on Darden Restaurants in a research report on Tuesday, July 23rd. They set an “overweight” rating and a $140.00 price objective for the company. Wedbush cut their price objective on Darden Restaurants from $130.00 to $125.00 and set a “neutral” rating for the company in a research report on Friday, June 21st. Zacks Investment Research lowered Darden Restaurants from a “buy” rating to a “hold” rating and set a $125.00 price objective for the company. in a research report on Wednesday, June 12th. Maxim Group lowered Darden Restaurants from a “buy” rating to a “hold” rating and set a $126.00 price objective for the company. in a research report on Tuesday, July 16th. Finally, Wells Fargo & Co cut their price objective on Darden Restaurants from $120.00 to $117.00 and set a “market perform” rating for the company in a research report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $130.76.

Shares of Darden Restaurants stock traded up $2.71 on Friday, hitting $117.62. 29,439 shares of the company traded hands, compared to its average volume of 1,020,226. The stock’s 50 day moving average price is $122.50 and its 200-day moving average price is $117.68. The company has a current ratio of 0.61, a quick ratio of 0.46 and a debt-to-equity ratio of 0.39. Darden Restaurants, Inc. has a 52 week low of $95.83 and a 52 week high of $126.75. The company has a market cap of $14.91 billion, a PE ratio of 20.17, a PEG ratio of 1.88 and a beta of 0.32.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Thursday, June 20th. The restaurant operator reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.03. The firm had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. Darden Restaurants had a net margin of 8.38% and a return on equity of 31.61%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.39 earnings per share. As a group, research analysts anticipate that Darden Restaurants, Inc. will post 6.39 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend was Tuesday, July 9th. This is an increase from Darden Restaurants’s previous quarterly dividend of $0.75. Darden Restaurants’s dividend payout ratio is 60.48%.

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.

Read More: Moving Average – How it Helps Investors in Stock Selection

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)

Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.