Cambridge Trust Co. trimmed its position in shares of Darden Restaurants, Inc. (NYSE:DRI – Get Rating) by 38.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 250 shares of the restaurant operator’s stock after selling 157 shares during the quarter. Cambridge Trust Co.’s holdings in Darden Restaurants were worth $35,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Ropes Wealth Advisors LLC purchased a new position in Darden Restaurants during the 3rd quarter worth approximately $241,000. Russell Investments Group Ltd. grew its holdings in shares of Darden Restaurants by 3.9% during the third quarter. Russell Investments Group Ltd. now owns 47,257 shares of the restaurant operator’s stock worth $5,973,000 after buying an additional 1,774 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Darden Restaurants by 40.6% during the third quarter. CIBC Asset Management Inc now owns 22,118 shares of the restaurant operator’s stock worth $2,794,000 after buying an additional 6,384 shares in the last quarter. Veriti Management LLC acquired a new position in shares of Darden Restaurants during the 3rd quarter valued at about $214,000. Finally, Federated Hermes Inc. boosted its position in shares of Darden Restaurants by 30,362.0% during the 2nd quarter. Federated Hermes Inc. now owns 235,471 shares of the restaurant operator’s stock valued at $26,637,000 after acquiring an additional 234,698 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Darden Restaurants
In other Darden Restaurants news, SVP Richard L. Renninger sold 5,000 shares of the firm’s stock in a transaction on Friday, January 13th. The stock was sold at an average price of $147.99, for a total value of $739,950.00. Following the completion of the sale, the senior vice president now owns 22,368 shares of the company’s stock, valued at $3,310,240.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Darden Restaurants news, SVP Richard L. Renninger sold 5,000 shares of the firm’s stock in a transaction on Friday, January 13th. The stock was sold at an average price of $147.99, for a total value of $739,950.00. Following the completion of the sale, the senior vice president now owns 22,368 shares of the company’s stock, valued at $3,310,240.32. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Douglas J. Milanes sold 2,229 shares of the firm’s stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $150.00, for a total value of $334,350.00. Following the completion of the transaction, the senior vice president now owns 5,328 shares of the company’s stock, valued at approximately $799,200. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,229 shares of company stock valued at $1,358,200. 0.93% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Darden Restaurants Price Performance
Darden Restaurants stock opened at $148.50 on Monday. Darden Restaurants, Inc. has a one year low of $110.96 and a one year high of $152.08. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.31 and a current ratio of 0.47. The business has a fifty day moving average of $147.31 and a two-hundred day moving average of $140.61. The company has a market cap of $18.07 billion, a P/E ratio of 20.48, a price-to-earnings-growth ratio of 1.95 and a beta of 1.23.
Darden Restaurants (NYSE:DRI – Get Rating) last released its earnings results on Friday, December 16th. The restaurant operator reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Darden Restaurants had a return on equity of 42.51% and a net margin of 9.10%. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.43 billion. As a group, analysts predict that Darden Restaurants, Inc. will post 7.83 earnings per share for the current fiscal year.
About Darden Restaurants
Darden Restaurants, Inc is a full-service restaurant company, which engages in the provision of restaurant services. It operates through the following segments: Olive Garden, LongHorn Steakhouse, Fine Dining, and Other Business. The Olive Garden segment is the largest full-service dining Italian restaurant operator.
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