Stevens Capital Management LP Raises Position in Darden Restaurants, Inc. (NYSE:DRI)

Stevens Capital Management LP boosted its holdings in Darden Restaurants, Inc. (NYSE:DRI - Free Report) by 408.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,882 shares of the restaurant operator's stock after buying an additional 8,740 shares during the period. Darden Restaurants makes up 0.8% of Stevens Capital Management LP's investment portfolio, making the stock its 23rd biggest holding. Stevens Capital Management LP's holdings in Darden Restaurants were worth $2,032,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DRI. Kestra Investment Management LLC bought a new stake in Darden Restaurants during the fourth quarter valued at $25,000. Compass Wealth Management LLC purchased a new stake in shares of Darden Restaurants in the 4th quarter valued at about $28,000. TCTC Holdings LLC purchased a new position in shares of Darden Restaurants during the fourth quarter worth about $28,000. MCF Advisors LLC increased 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 purchasing an additional 59 shares during the last quarter. Finally, HHM Wealth Advisors LLC raised its stake in Darden Restaurants by 103.2% in the fourth quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator's stock valued at $47,000 after purchasing an additional 129 shares in the last quarter. Institutional investors own 93.64% of the company's stock.

Insider Buying and Selling

In related news, CEO Ricardo Cardenas sold 20,518 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $208.19, for a total value of $4,271,642.42. Following the sale, the chief executive officer now owns 58,836 shares in the company, valued at $12,249,066.84. This represents a 25.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Douglas J. Milanes sold 7,892 shares of the firm's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $195.95, for a total value of $1,546,437.40. Following the transaction, the senior vice president now directly owns 3,914 shares of the company's stock, valued at approximately $766,948.30. This trade represents a 66.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 68,022 shares of company stock valued at $13,183,803 over the last ninety days. Company insiders own 0.58% of the company's stock.

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Darden Restaurants Trading Up 0.2 %

NYSE DRI traded up $0.45 during trading on Thursday, hitting $207.90. The company had a trading volume of 954,257 shares, compared to its average volume of 1,240,937. The company's fifty day moving average is $194.15 and its 200-day moving average is $177.98. Darden Restaurants, Inc. has a one year low of $135.87 and a one year high of $210.85. 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 company has a market cap of $24.35 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 2.15 and a beta of 1.27.

Darden Restaurants (NYSE:DRI - Get Free Report) last released its quarterly earnings results on Thursday, March 20th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.80. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.22 billion. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. Darden Restaurants's revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.60 earnings per share. On average, sell-side analysts predict that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.

Darden Restaurants Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $1.40 per share. The ex-dividend date is Thursday, April 10th. This represents a $5.60 annualized dividend and a dividend yield of 2.69%. Darden Restaurants's dividend payout ratio is presently 63.13%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on DRI. Wells Fargo & Company increased their price target on shares of Darden Restaurants from $180.00 to $200.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. The Goldman Sachs Group began coverage on Darden Restaurants in a research note on Thursday, December 5th. They issued a "neutral" rating and a $183.00 target price on the stock. Robert W. Baird lifted their price target on Darden Restaurants from $192.00 to $210.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Bank of America upped their price objective on Darden Restaurants from $230.00 to $238.00 and gave the stock a "buy" rating in a report on Friday, March 21st. Finally, Sanford C. Bernstein raised Darden Restaurants from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $180.00 to $215.00 in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $202.08.

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.