Arizona State Retirement System cut its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 0.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,728 shares of the restaurant operator’s stock after selling 400 shares during the period. Arizona State Retirement System’s holdings in Darden Restaurants were worth $4,830,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp purchased a new position in Darden Restaurants during the fourth quarter valued at about $113,000. Ledyard National Bank boosted its position in Darden Restaurants by 399.4% in the first quarter. Ledyard National Bank now owns 1,638 shares of the restaurant operator’s stock valued at $137,000 after buying an additional 1,310 shares in the last quarter. Whittier Trust Co. boosted its position in Darden Restaurants by 5.0% in the first quarter. Whittier Trust Co. now owns 2,477 shares of the restaurant operator’s stock valued at $207,000 after buying an additional 117 shares in the last quarter. San Francisco Sentry Investment Group CA purchased a new position in Darden Restaurants during the first quarter valued at about $215,000. Finally, Ashfield Capital Partners LLC purchased a new position in Darden Restaurants during the first quarter valued at about $217,000. Hedge funds and other institutional investors own 87.64% of the company’s stock.
Shares of Darden Restaurants, Inc. (DRI) traded up 0.28% during midday trading on Tuesday, hitting $92.08. 409,397 shares of the company were exchanged. The company has a 50-day moving average price of $86.79 and a 200-day moving average price of $78.60. The stock has a market capitalization of $11.45 billion, a price-to-earnings ratio of 23.52 and a beta of 0.28. Darden Restaurants, Inc. has a 52-week low of $59.50 and a 52-week high of $92.29.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Monday, March 27th. The restaurant operator reported $1.32 EPS for the quarter, beating the consensus estimate of $1.27 by $0.05. Darden Restaurants had a net margin of 6.22% and a return on equity of 25.92%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.87 billion. During the same quarter in the previous year, the business posted $1.21 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. On average, analysts forecast that Darden Restaurants, Inc. will post $3.99 EPS for the current year.