Glenview Trust Co Decreases Stake in Darden Restaurants, Inc. (DRI)

Glenview Trust Co lowered its position in Darden Restaurants, Inc. (NYSE:DRI) by 16.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 63,325 shares of the restaurant operator’s stock after selling 12,551 shares during the period. Glenview Trust Co owned 0.05% of Darden Restaurants worth $5,398,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in DRI. Jacobi Capital Management LLC increased its position in Darden Restaurants by 79.3% during the 1st quarter. Jacobi Capital Management LLC now owns 1,585 shares of the restaurant operator’s stock valued at $133,000 after buying an additional 701 shares in the last quarter. Ostrum Asset Management bought a new position in Darden Restaurants during the 1st quarter valued at approximately $180,000. Cetera Advisor Networks LLC bought a new position in Darden Restaurants during the 4th quarter valued at approximately $200,000. Texas Yale Capital Corp. bought a new position in Darden Restaurants during the 4th quarter valued at approximately $205,000. Finally, ETRADE Capital Management LLC bought a new position in Darden Restaurants during the 4th quarter valued at approximately $211,000. 89.53% of the stock is owned by hedge funds and other institutional investors.

Shares of Darden Restaurants stock opened at $92.38 on Thursday. Darden Restaurants, Inc. has a one year low of $76.27 and a one year high of $100.11. The firm has a market capitalization of $11.40 billion, a P/E ratio of 22.98, a P/E/G ratio of 1.58 and a beta of 0.20. The company has a current ratio of 0.39, a quick ratio of 0.25 and a debt-to-equity ratio of 0.44.

Darden Restaurants (NYSE:DRI) last announced its earnings results on Thursday, March 22nd. The restaurant operator reported $1.71 EPS for the quarter, topping the Zacks’ consensus estimate of $1.64 by $0.07. Darden Restaurants had a return on equity of 28.12% and a net margin of 6.92%. The company had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period last year, the firm earned $1.32 EPS. Darden Restaurants’s revenue for the quarter was up 13.3% compared to the same quarter last year. analysts forecast that Darden Restaurants, Inc. will post 4.77 earnings per share for the current year.

Several analysts have commented on DRI shares. Zacks Investment Research downgraded Darden Restaurants from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Maxim Group reiterated a “buy” rating and set a $112.00 target price on shares of Darden Restaurants in a research note on Wednesday, March 14th. Mizuho started coverage on Darden Restaurants in a research note on Thursday, March 15th. They set a “buy” rating and a $105.00 target price on the stock. BMO Capital Markets cut their target price on Darden Restaurants from $99.00 to $97.00 and set a “market perform” rating on the stock in a research note on Thursday, March 22nd. Finally, Stifel Nicolaus dropped their price target on Darden Restaurants from $105.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, March 23rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $98.30.

Darden Restaurants Company Profile

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of June 27, 2017, it owned and operated approximately 1,700 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, and Eddie V's brands.

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

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