MML Investors Services LLC decreased its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 32.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,580 shares of the restaurant operator’s stock after selling 3,104 shares during the quarter. MML Investors Services LLC’s holdings in Darden Restaurants were worth $632,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new stake in Darden Restaurants during the fourth quarter worth $126,000. Grove Bank & Trust grew its holdings in Darden Restaurants by 155.6% during the third quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock worth $145,000 after buying an additional 1,120 shares in the last quarter. Cetera Advisor Networks LLC bought a new stake in Darden Restaurants during the fourth quarter worth $200,000. Texas Yale Capital Corp. bought a new stake in Darden Restaurants during the fourth quarter worth $205,000. Finally, Ifrah Financial Services Inc. bought a new stake in Darden Restaurants during the fourth quarter worth $208,000. Hedge funds and other institutional investors own 92.69% of the company’s stock.
In other news, SVP Douglas J. Milanes sold 4,300 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $97.05, for a total transaction of $417,315.00. Following the transaction, the senior vice president now owns 7,513 shares of the company’s stock, valued at approximately $729,136.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eugene I. Lee, Jr. sold 59,783 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $96.80, for a total value of $5,786,994.40. Following the transaction, the insider now directly owns 164,396 shares in the company, valued at approximately $15,913,532.80. The disclosure for this sale can be found here. Insiders have sold a total of 74,866 shares of company stock worth $7,252,094 in the last ninety days. Insiders own 0.63% of the company’s stock.
Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Tuesday, December 19th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. Darden Restaurants had a return on equity of 26.24% and a net margin of 6.46%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.85 billion. equities research analysts expect that Darden Restaurants, Inc. will post 4.76 earnings per share for the current fiscal year.
DRI has been the subject of several recent research reports. SunTrust Banks set a $94.00 price target on Darden Restaurants and gave the stock a “hold” rating in a report on Monday, December 11th. Zacks Investment Research downgraded Darden Restaurants from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Maxim Group reiterated a “buy” rating and set a $112.00 price target (up previously from $103.00) on shares of Darden Restaurants in a report on Tuesday, January 9th. Mizuho initiated coverage on Darden Restaurants in a report on Thursday. They set a “buy” rating and a $105.00 price target for the company. Finally, Credit Suisse Group reiterated a “hold” rating and set a $95.00 price target on shares of Darden Restaurants in a report on Friday, January 12th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $97.09.
Darden Restaurants Company Profile
Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
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.