GAM Holding AG Lowers Stake in Darden Restaurants, Inc. (NYSE:DRI)

GAM Holding AG lessened its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,153 shares of the restaurant operator’s stock after selling 328 shares during the period. GAM Holding AG’s holdings in Darden Restaurants were worth $1,149,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of DRI. Compass Wealth Management LLC purchased a new stake in shares of Darden Restaurants in the fourth quarter worth about $28,000. MCF Advisors LLC boosted its position in shares of Darden Restaurants by 50.9% in the fourth quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator’s stock worth $33,000 after buying an additional 59 shares during the period. HHM Wealth Advisors LLC boosted its position in shares of Darden Restaurants by 103.2% in the fourth quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator’s stock worth $47,000 after buying an additional 129 shares during the period. Webster Bank N. A. purchased a new stake in shares of Darden Restaurants in the fourth quarter worth about $51,000. Finally, Fortitude Family Office LLC boosted its position in shares of Darden Restaurants by 78.3% in the fourth quarter. Fortitude Family Office LLC now owns 312 shares of the restaurant operator’s stock worth $58,000 after buying an additional 137 shares during the period. Hedge funds and other institutional investors own 93.64% of the company’s stock.

Insider Transactions at Darden Restaurants

In related news, SVP Douglas J. Milanes sold 7,892 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $195.95, for a total value of $1,546,437.40. Following the sale, the senior vice president now directly owns 3,914 shares in the company, valued at $766,948.30. This trade represents a 66.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Todd Burrowes sold 15,783 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $183.03, for a total value of $2,888,762.49. Following the completion of the sale, the insider now owns 46,288 shares in the company, valued at approximately $8,472,092.64. This represents a 25.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,926 shares of company stock worth $9,850,129. 0.58% of the stock is currently owned by company insiders.

Darden Restaurants Stock Up 4.7 %

Shares of Darden Restaurants stock opened at $200.16 on Wednesday. The company has a current ratio of 0.37, a quick ratio of 0.23 and a debt-to-equity ratio of 1.02. The business’s 50 day simple moving average is $186.23 and its 200-day simple moving average is $169.93. The stock has a market capitalization of $23.45 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 2.21 and a beta of 1.31. Darden Restaurants, Inc. has a twelve month low of $135.87 and a twelve month high of $201.94.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Thursday, December 19th. The restaurant operator reported $2.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.03. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.87 billion. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.84 EPS. Equities research analysts forecast that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.

Darden Restaurants Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 10th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Friday, January 10th. Darden Restaurants’s payout ratio is 64.15%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DRI. BMO Capital Markets upped their target price on Darden Restaurants from $165.00 to $175.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Bank of America increased their price target on Darden Restaurants from $195.00 to $211.00 and gave the company a “buy” rating in a report on Friday, December 20th. Citigroup reduced their price target on Darden Restaurants from $209.00 to $206.00 and set a “buy” rating for the company in a report on Wednesday, December 4th. Sanford C. Bernstein raised Darden Restaurants from a “market perform” rating to an “outperform” rating and increased their price target for the company from $180.00 to $215.00 in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group initiated coverage on Darden Restaurants in a report on Thursday, December 5th. They issued a “neutral” rating and a $183.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $192.52.

About Darden Restaurants

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.