Defence

Mackenzie Financial Corp owns shares of Darden Restaurants, Inc. for $2.97 million (NYSE:DRI)


Mackenzie Financial Corp increased its position in shares of Darden Restaurants, Inc. (NYSE:DRIGet a rating) by 3.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,210 shares of the restaurant operator’s stock after purchasing an additional 789 shares during the quarter. Mackenzie Financial Corp’s holdings in Darden Restaurants were worth $2,965,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DRI. Atria Investments LLC raised its stake in shares of Darden Restaurants by 9.6% in the first quarter. Atria Investments LLC now owns 8,835 shares of the restaurant operator’s stock worth $1,175,000 after buying an additional 772 shares in the last quarter. DAVENPORT & Co LLC raised its stake in shares of Darden Restaurants by 5.0% in the first quarter. DAVENPORT & Co LLC now owns 1,957 shares of the restaurant operator’s stock valued at $260,000 after buying an additional 94 shares in the last quarter. Metis Global Partners LLC acquired a new stake in shares of Darden Restaurants in the first quarter worth about $274,000. Arizona State Retirement System raised its stake in shares of Darden Restaurants by 1.8% in the first quarter. Arizona State Retirement System now owns 36,127 shares of the restaurant operator’s stock valued at $4,803,000 after buying an additional 645 shares in the last quarter. Finally, Versor Investments LP raised its stake in shares of Darden Restaurants by 49.7% in the first quarter. Versor Investments LP now owns 9,132 shares of the restaurant operator’s stock valued at $1,214,000 after buying an additional 3,032 shares in the last quarter. 89.62% of shares are owned by institutional investors and hedge funds.

Insider buying and selling

In related news, the director Nana Mensa sold 1,000 shares of the stock in a transaction on Tuesday, October 11th. The shares were sold at an average price of $128.47 for a total value of $128,470.00. Following the sale, the director now owns 74 shares in the company, valued at $9,506.78. The sale was disclosed in a filing with the Securities and Exchange Commission, which is available at this link. In other Darden Restaurants news, SVP Sarah H. King sold 6,795 shares of the firm’s stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $131.59, for a total transaction amounting to $894,154.05. Following the sale, the senior vice president now owns 1,174 shares in the company, valued at $154,486.66. The deal was disclosed in a filing with the Securities and Exchange Commission, which is available at SEC website. Also the director Nana Mensa sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $128.47 for a total amount of $128,470.00. Following the sale, the director now owns 74 shares in the company, valued at approximately $9,506.78. Disclosures for this sale can be found here here. Insiders sold 45,057 shares of company stock valued at $6,092,586 over the last quarter. Corporate insiders own 0.93% of company shares.

Darden Restaurant Price Indicators

Darden Restaurants stock opened at $146.70 on Tuesday. Darden Restaurants, Inc. has a 1-year low of $110.96 and a 1-year high of $155.25. The business has a fifty day moving average of $134.51 and a 200 day moving average of $126.75. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.52, and a quick ratio of 0.37. The company has a market cap of $17.95 billion, a P/E ratio of 20.35, a PEG ratio of 1.94 and a beta of 1.23.

Darden Restaurants (NYSE:DRIGet a rating) last issued its quarterly earnings data on Thursday, September 22nd. The restaurant operator reported $1.56 earnings per share (EPS), topping analysts’ consensus estimates of $1.56. Darden Restaurants had a return on equity of 40.33% and a net profit margin of 9.36%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.47 billion. In the same quarter last year, the business posted $1.76 earnings per share. The company’s revenue grew by 6.1% compared to the same quarter last year. As a group of equities research analysts predict that Darden Restaurants, Inc. will post 7.68 earnings per share for the current year.

Darden Restaurants Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 1st. Investors of record on Monday, October 10th were given a $1.21 dividend. The ex-dividend date was Friday, October 7th. This amounts to $4.84 in annualized dividends and a dividend yield of 3.30%. Darden Restaurants’ dividend payout ratio (DPR) is currently 67.13%.

Wall Street analysts predict growth

Several analysts have recently commented on the company. StockNews.com upgraded Darden Restaurants from a “hold” rating to a “buy” rating in a report on Thursday, October 20th. KeyCorp boosted their price objective on Darden Restaurants from $136.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, October 6th. Truist Financial boosted their price target on Darden Restaurants from $136.00 to $142.00 in a research report on Friday, September 23rd. Royal Bank of Canada raised their price objective on Darden Restaurants from $143.00 to $144.00 and gave the company an “outperform” rating in a research report on Friday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Darden Restaurants from $131.00 to $129.00 and set a “hold” rating for the company in a research report on Friday, September 23rd. Three analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Darden Restaurants has an average rating of “Moderate Buy” and a consensus price target of $144.10, according to MarketBeat.

About Darden Restaurants

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Darden Restaurants, Inc., through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 29, 2022, it owned and operated 1,867 restaurants, including 884 under the Olive Garden brand, 546 under the LongHorn Steakhouse brand, 172 under the Cheddar’s Scratch Kitchen brand, 85 under the Yard House brand, 62 under the The. the Capital Grille brand, 45 under the Seasons 52 brand, 42 under the Bahama Breeze brand, 28 under the Eddie V’s Prime Seafood brand and 3 under the Capital Burger brand; and franchised 60 restaurants, including 35 under the Olive Garden brand, 18 under the LongHorn Steakhouse brand, 4 under the Cheddar’s Scratch Kitchen brand, 2 under the The Capital Grille brand and 1 under the Bahama Breeze brand. Darden Restaurants, Inc. was founded. in 1968 and is located in Orlando, Florida.

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https://www.defenseworld.net/2022/11/22/mackenzie-financial-corp-has-2-97-million-stock-position-in-darden-restaurants-inc-nysedri.html Mackenzie Financial Corp owns shares of Darden Restaurants, Inc. for $2.97 million (NYSE:DRI)

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