Altavista Wealth Management Inc. lessened its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 39.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,119 shares of the restaurant operator’s stock after selling 16,553 shares during the quarter. Altavista Wealth Management Inc.’s holdings in Darden Restaurants were worth $2,272,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in DRI. BlackRock Inc. raised its holdings in shares of Darden Restaurants by 4,601.4% during 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. Janus Henderson Group PLC raised its holdings in shares of Darden Restaurants by 3,640.4% during the second quarter. Janus Henderson Group PLC now owns 737,685 shares of the restaurant operator’s stock valued at $66,717,000 after acquiring an additional 717,963 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in shares of Darden Restaurants by 66.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,275,399 shares of the restaurant operator’s stock valued at $115,348,000 after acquiring an additional 510,969 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Darden Restaurants by 3.6% during 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 acquiring an additional 487,366 shares in the last quarter. Finally, Balyasny Asset Management LLC raised its holdings in shares of Darden Restaurants by 281.8% during the second quarter. Balyasny Asset Management LLC now owns 181,814 shares of the restaurant operator’s stock valued at $16,443,000 after acquiring an additional 281,814 shares in the last quarter. Institutional investors own 89.85% of the company’s stock.
A number of brokerages recently commented on DRI. Stephens restated an “equal weight” rating and set a $85.00 target price on shares of Darden Restaurants in a report on Wednesday, June 28th. Deutsche Bank AG upped their target price on Darden Restaurants from $84.00 to $94.00 and gave the company a “hold” rating in a report on Wednesday, June 28th. Robert W. Baird reaffirmed a “neutral” rating and issued a $94.00 price target (up from $90.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. Royal Bank Of Canada upped their price target on Darden Restaurants from $86.00 to $96.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 28th. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $100.00 price target (up from $85.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $87.82.
Darden Restaurants, Inc. (DRI) traded down 0.38% during midday trading on Thursday, hitting $79.04. The company had a trading volume of 662,623 shares. The stock has a market capitalization of $9.78 billion, a PE ratio of 20.47 and a beta of 0.24. The stock has a 50 day moving average price of $81.25 and a 200-day moving average price of $85.31. Darden Restaurants, Inc. has a 52 week low of $60.97 and a 52 week high of $95.22.
Darden Restaurants (NYSE:DRI) last announced its earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.99. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the business earned $0.88 EPS. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. On average, equities analysts predict that Darden Restaurants, Inc. will post $4.45 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $2.52 annualized dividend and a yield of 3.18%. Darden Restaurants’s dividend payout ratio (DPR) is 65.12%.
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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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