BlackRock Amends Darden Restaurants Stake (15th Filing)
Ticker: DRI · Form: SC 13G/A · Filed: 2024-01-29T00:00:00.000Z
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
TL;DR
**BlackRock still owns a big chunk of Darden, signaling confidence.**
AI Summary
BlackRock Inc. filed an amended Schedule 13G/A on January 29, 2024, indicating its ownership of Darden Restaurants Inc. common stock as of December 31, 2023. This is the 15th amendment to their filing, showing BlackRock continues to be a significant institutional holder in Darden, which operates restaurants like Olive Garden and LongHorn Steakhouse. This matters to investors because BlackRock's continued substantial stake suggests confidence in Darden's long-term prospects, as large institutional holdings can provide stability and influence.
Why It Matters
BlackRock's consistent, large ownership in Darden Restaurants Inc. signals institutional confidence, which can reassure current and potential investors about the company's stability and future outlook.
Risk Assessment
Risk Level: low — This filing indicates stable institutional ownership, which generally reduces risk by providing a strong base of support for the company.
Analyst Insight
Investors should view BlackRock's continued, albeit amended, filing as a sign of ongoing institutional interest in Darden Restaurants Inc., suggesting stability rather than an immediate catalyst for price movement. It's a good data point for long-term holders.
Key Numbers
- 15 — Amendment Number (This is the 15th amendment to BlackRock's Schedule 13G filing for Darden Restaurants Inc., indicating a long-standing and regularly updated position.)
- 237194105 — CUSIP Number (The unique identifier for Darden Restaurants Inc. common stock, confirming the specific security being reported.)
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Darden Restaurants Inc. (company) — the subject company, owner of Olive Garden and LongHorn Steakhouse
- December 31, 2023 (date) — the date of the event requiring the filing
- January 29, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will maintain a significant stake in Darden Restaurants Inc. throughout 2024. (BlackRock Inc.) — high confidence, target: December 31, 2024
- Darden Restaurants Inc. will continue to be a stable investment for large institutional funds. (Darden Restaurants Inc.) — medium confidence, target: December 31, 2024
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, as stated in the 'FORM TYPE: SC 13G/A' and 'SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 15)' sections.
Who is the reporting person in this filing?
The reporting person is BlackRock Inc., as indicated under the 'FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BlackRock Inc.' section.
What is the subject company of this filing?
The subject company is DARDEN RESTAURANTS INC, as stated under the 'SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DARDEN RESTAURANTS INC' section.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified in the filing.
What is the CUSIP number for the securities reported?
The CUSIP number for the Common Stock of Darden Restaurants Inc. is 237194105, as listed on the cover page of the Schedule 13G.
From the Filing
EDGAR Filing Documents for 0001086364-24-005066 This page uses Javascript. Your browser either doesn't support Javascript or you have it turned off. To see this page as it is meant to appear please use a Javascript enabled browser. SEC.gov EDGAR Latest Filings Filings search tools Filing Detail SEC Home Company Search Current Page Form SC 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend] SEC Accession No. 0001086364-24-005066 Filing Date 2024-01-29 Accepted 2024-01-29 15:26:24 Documents 1 Document Format Files Seq Description Document Type Size 1 us2371941053_012924.txt SC 13G/A 11973 Complete submission text file 0001086364-24-005066.txt 13862 Mailing Address 1000 DARDEN CENTER DRIVE ORLANDO FL 32837 Business Address 1000 DARDEN CENTER DRIVE ORLANDO FL 32837 4072454000 DARDEN RESTAURANTS INC (Subject) CIK : 0000940944 (see all company filings) EIN. : 593305930 | State of Incorp.: FL | Fiscal Year End: 0526 Type: SC 13G/A | Act: 34 | File No.: 005-44577 | Film No.: 24573100 SIC : 5812 Retail-Eating Places (CF Office: 07 Trade & Services) Mailing Address 50 HUDSON YARDS NEW YORK NY 10001 Business Address 50 HUDSON YARDS NEW YORK NY 10001 212-810-5300 BlackRock Inc. (Filed by) CIK : 0001364742 (see all company filings) EIN. : 320174431 | State of Incorp.: DE | Fiscal Year End: 1231 Type: SC 13G/A SIC : 6211 Security Brokers, Dealers & Flotation Companies (CF Office: 02 Finance)