Metropolitan Life Insurance Co. NY cut its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 12.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,763 shares of the restaurant operator’s stock after selling 3,012 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Darden Restaurants were worth $2,330,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DRI. BlackRock Inc. boosted its position in shares of Darden Restaurants by 3.8% in the second quarter. BlackRock Inc. now owns 11,054,427 shares of the restaurant operator’s stock worth $1,183,487,000 after buying an additional 401,736 shares during the period. Victory Capital Management Inc. boosted its position in shares of Darden Restaurants by 12.3% in the second quarter. Victory Capital Management Inc. now owns 2,621,385 shares of the restaurant operator’s stock worth $280,646,000 after buying an additional 288,019 shares during the period. Morgan Stanley boosted its position in shares of Darden Restaurants by 100.8% in the second quarter. Morgan Stanley now owns 1,520,183 shares of the restaurant operator’s stock worth $162,751,000 after buying an additional 763,239 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Darden Restaurants by 5.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,012,324 shares of the restaurant operator’s stock worth $108,380,000 after buying an additional 53,292 shares during the period. Finally, Allianz Asset Management GmbH boosted its position in shares of Darden Restaurants by 1.7% in the first quarter. Allianz Asset Management GmbH now owns 758,902 shares of the restaurant operator’s stock worth $64,696,000 after buying an additional 12,328 shares during the period. 89.45% of the stock is owned by institutional investors and hedge funds.

DRI has been the subject of several recent analyst reports. Zacks Investment Research cut Darden Restaurants from a “buy” rating to a “hold” rating in a research report on Monday, May 28th. Maxim Group cut Darden Restaurants from a “buy” rating to a “hold” rating and set a $112.00 target price for the company. in a research report on Monday, July 16th. They noted that the move was a valuation call. Morgan Stanley raised their target price on Darden Restaurants from $90.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Friday, June 22nd. Robert W. Baird cut Darden Restaurants from an “outperform” rating to a “neutral” rating in a research report on Monday, September 10th. Finally, Citigroup raised their target price on Darden Restaurants from $100.00 to $128.00 and gave the stock a “buy” rating in a research report on Thursday, July 12th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $118.09.

In related news, SVP Douglas J. Milanes sold 2,186 shares of Darden Restaurants stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $111.06, for a total transaction of $242,777.16. Following the completion of the sale, the senior vice president now owns 792 shares of the company’s stock, valued at $87,959.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Eugene I. Lee, Jr. sold 60,973 shares of Darden Restaurants stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $107.34, for a total value of $6,544,841.82. Following the sale, the insider now directly owns 162,586 shares of the company’s stock, valued at approximately $17,451,981.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 182,236 shares of company stock valued at $19,609,826. Insiders own 0.65% of the company’s stock.

DRI opened at $117.98 on Tuesday. The firm has a market cap of $14.71 billion, a P/E ratio of 24.70, a PEG ratio of 2.31 and a beta of 0.15. Darden Restaurants, Inc. has a 1 year low of $77.55 and a 1 year high of $120.93. The company has a quick ratio of 0.25, a current ratio of 0.40 and a debt-to-equity ratio of 0.42.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Thursday, June 21st. The restaurant operator reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.04. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Darden Restaurants had a return on equity of 29.02% and a net margin of 7.38%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 earnings per share. analysts predict that Darden Restaurants, Inc. will post 5.51 earnings per share for the current year.

Darden Restaurants Company 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: Book Value Per Share – BVPS

Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

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