Janus Henderson Group PLC boosted its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 3,640.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 737,685 shares of the restaurant operator’s stock after purchasing an additional 717,963 shares during the period. Janus Henderson Group PLC owned approximately 0.59% of Darden Restaurants worth $66,717,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State of Tennessee Treasury Department grew its holdings in Darden Restaurants by 162.3% during the 2nd quarter. State of Tennessee Treasury Department now owns 121,896 shares of the restaurant operator’s stock valued at $11,025,000 after purchasing an additional 75,421 shares in the last quarter. BlackRock Inc. grew its holdings in Darden Restaurants by 4,601.4% during the 1st quarter. BlackRock Inc. now owns 11,464,253 shares of the restaurant operator’s stock valued at $959,215,000 after purchasing an additional 11,220,403 shares in the last quarter. Wedbush Securities Inc. grew its holdings in Darden Restaurants by 0.5% during the 2nd quarter. Wedbush Securities Inc. now owns 3,195 shares of the restaurant operator’s stock valued at $289,000 after purchasing an additional 15 shares in the last quarter. Chicago Equity Partners LLC grew its holdings in Darden Restaurants by 589.5% during the 2nd quarter. Chicago Equity Partners LLC now owns 41,230 shares of the restaurant operator’s stock valued at $3,729,000 after purchasing an additional 35,250 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Darden Restaurants by 3.6% during the 1st 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 in the last quarter. 89.85% of the stock is owned by institutional investors and hedge funds.
Shares of Darden Restaurants, Inc. (NYSE DRI) opened at 79.21 on Friday. The company has a 50-day moving average of $81.13 and a 200 day moving average of $85.26. The company has a market capitalization of $9.80 billion, a P/E ratio of 20.51 and a beta of 0.24. Darden Restaurants, Inc. has a 12 month low of $60.97 and a 12 month high of $95.22.
Darden Restaurants (NYSE:DRI) last posted 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 net margin of 6.60% and a return on equity of 26.06%. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. Analysts forecast that Darden Restaurants, Inc. will post $4.45 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Friday, October 6th. Darden Restaurants’s payout ratio is 65.12%.
A number of equities research analysts recently weighed in on the stock. Longbow Research assumed coverage on shares of Darden Restaurants in a report on Friday. They set a “neutral” rating for the company. ValuEngine lowered shares of Darden Restaurants from a “buy” rating to a “hold” rating in a report on Thursday, October 5th. Stifel Nicolaus began coverage on shares of Darden Restaurants in a report on Monday, October 2nd. They set a “buy” rating and a $92.00 price objective for the company. Citigroup Inc. decreased their price objective on shares of Darden Restaurants from $105.00 to $90.00 and set a “buy” rating for the company in a report on Monday, October 2nd. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $100.00 price objective on shares of Darden Restaurants in a report on Thursday, September 28th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have assigned a buy rating to the company. Darden Restaurants presently has an average rating of “Hold” and an average price target of $87.82.
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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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