Seven Eight Capital LP boosted its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 23.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,418 shares of the restaurant operator’s stock after buying an additional 13,400 shares during the quarter. Darden Restaurants accounts for about 0.9% of Seven Eight Capital LP’s holdings, making the stock its 12th biggest holding. Seven Eight Capital LP owned approximately 0.06% of Darden Restaurants worth $6,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Darden Restaurants by 3.6% in the first quarter. Vanguard Group Inc. now owns 14,211,162 shares of the restaurant operator’s stock valued at $1,189,048,000 after purchasing an additional 487,366 shares during the period. BlackRock Inc. raised its holdings in Darden Restaurants by 4,601.4% in the first quarter. BlackRock Inc. now owns 11,464,253 shares of the restaurant operator’s stock valued at $959,215,000 after acquiring an additional 11,220,403 shares in the last quarter. American International Group Inc. raised its holdings in Darden Restaurants by 1.3% in the first quarter. American International Group Inc. now owns 6,198,698 shares of the restaurant operator’s stock valued at $518,645,000 after acquiring an additional 77,248 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Darden Restaurants by 3.0% in the first quarter. Ameriprise Financial Inc. now owns 3,734,166 shares of the restaurant operator’s stock valued at $312,519,000 after acquiring an additional 110,515 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Darden Restaurants by 0.5% in the second quarter. Wells Fargo & Company MN now owns 3,244,502 shares of the restaurant operator’s stock valued at $293,433,000 after acquiring an additional 15,194 shares in the last quarter. 88.76% of the stock is owned by institutional investors.
Several analysts recently weighed in on the stock. Jefferies Group LLC raised their target price on shares of Darden Restaurants from $80.00 to $90.00 and gave the company a “hold” rating in a report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $87.00 price objective (up previously from $81.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Stephens reissued an “equal weight” rating and set a $85.00 price objective on shares of Darden Restaurants in a report on Wednesday, June 28th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $100.00 price objective (up previously from $85.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Finally, Royal Bank Of Canada raised their price objective on shares of Darden Restaurants from $86.00 to $96.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $85.18.
In other Darden Restaurants news, insider Eugene I. Lee, Jr. sold 93,125 shares of Darden Restaurants stock in a transaction 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 transaction, the insider now owns 165,062 shares in the company, valued at approximately $15,116,377.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.63% of the company’s stock.
Shares of Darden Restaurants, Inc. (NYSE DRI) traded up 1.00% on Tuesday, reaching $80.54. 307,146 shares of the company traded hands. Darden Restaurants, Inc. has a 52-week low of $60.16 and a 52-week high of $95.22. The company has a market capitalization of $10.10 billion, a PE ratio of 21.18 and a beta of 0.27. The firm has a 50-day moving average of $83.13 and a 200-day moving average of $84.51.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Tuesday, June 27th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.03. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company posted $1.10 EPS. The business’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities research analysts forecast that Darden Restaurants, Inc. will post $4.47 earnings per share for the current fiscal year.
Darden Restaurants Company 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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