Coastline Trust Co lessened its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 2.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,490 shares of the restaurant operator’s stock after selling 340 shares during the quarter. Coastline Trust Co’s holdings in Darden Restaurants were worth $1,401,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of DRI. Farmers & Merchants Investments Inc. lifted its holdings in shares of Darden Restaurants by 255.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 1,422 shares of the restaurant operator’s stock worth $129,000 after purchasing an additional 1,022 shares during the period. Huntington National Bank lifted its holdings in shares of Darden Restaurants by 4.6% during the second quarter. Huntington National Bank now owns 1,578 shares of the restaurant operator’s stock worth $143,000 after purchasing an additional 70 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Darden Restaurants by 4.6% during the first quarter. Van ECK Associates Corp now owns 1,625 shares of the restaurant operator’s stock worth $136,000 after purchasing an additional 71 shares during the period. Ledyard National Bank lifted its holdings in shares of Darden Restaurants by 4.9% during the second quarter. Ledyard National Bank now owns 1,718 shares of the restaurant operator’s stock worth $155,000 after purchasing an additional 80 shares during the period. Finally, Sippican Capital Advisors acquired a new stake in shares of Darden Restaurants during the second quarter worth about $211,000. 88.76% of the stock is owned by institutional investors and hedge funds.
In other news, insider Eugene I. Lee, Jr. sold 93,125 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $91.58, for a total value of $8,528,387.50. Following the completion of the sale, the insider now directly owns 165,062 shares of the company’s stock, valued at approximately $15,116,377.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is owned by company insiders.
Shares of Darden Restaurants, Inc. (NYSE:DRI) opened at 80.18 on Tuesday. Darden Restaurants, Inc. has a 12 month low of $60.16 and a 12 month high of $95.22. The company’s 50 day moving average price is $83.13 and its 200 day moving average price is $84.51. The stock has a market capitalization of $10.06 billion, a PE ratio of 21.08 and a beta of 0.27.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 EPS for the quarter, beating the consensus estimate of $1.15 by $0.03. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the firm earned $1.10 EPS. Equities analysts anticipate that Darden Restaurants, Inc. will post $4.47 earnings per share for the current fiscal year.
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A number of research firms recently commented on DRI. Jefferies Group LLC lifted their target price on Darden Restaurants from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $87.00 target price (up previously from $81.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Stephens reaffirmed an “equal weight” rating and set a $85.00 target price on shares of Darden Restaurants in a report on Wednesday, June 28th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $100.00 target price (up previously from $85.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Finally, Royal Bank Of Canada lifted their target price on Darden Restaurants from $86.00 to $96.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $85.18.
Darden Restaurants 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).
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