Arrowstreet Capital Limited Partnership decreased its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 26.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,300 shares of the restaurant operator’s stock after selling 44,400 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.10% of Darden Restaurants worth $11,151,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of DRI. Honkamp Krueger Financial Services Inc. raised its stake in Darden Restaurants by 0.3% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 2,788 shares of the restaurant operator’s stock worth $252,000 after acquiring an additional 9 shares during the last quarter. Bruderman Asset Management LLC raised its stake in Darden Restaurants by 0.4% in the 2nd quarter. Bruderman Asset Management LLC now owns 2,532 shares of the restaurant operator’s stock worth $229,000 after acquiring an additional 10 shares during the last quarter. Wedbush Securities Inc. raised its stake in Darden Restaurants by 0.5% in the 2nd quarter. Wedbush Securities Inc. now owns 3,195 shares of the restaurant operator’s stock worth $289,000 after acquiring an additional 15 shares during the last quarter. D.A. Davidson & CO. raised its stake in Darden Restaurants by 1.7% in the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock worth $114,000 after acquiring an additional 21 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Darden Restaurants by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,238 shares of the restaurant operator’s stock worth $835,000 after acquiring an additional 28 shares during the last quarter. 89.85% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on DRI. J P Morgan Chase & Co restated a “neutral” rating and issued a $93.00 target price (up previously from $82.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. Jefferies Group LLC raised their target price on Darden Restaurants from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, June 28th. Longbow Research began coverage on Darden Restaurants in a research note on Friday. They issued a “neutral” rating for the company. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and issued a $87.00 target price (up previously from $81.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. Finally, Maxim Group restated a “hold” rating and issued a $90.00 target price on shares of Darden Restaurants in a research note on Wednesday, June 21st. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $87.82.
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Shares of Darden Restaurants, Inc. (NYSE:DRI) traded down 0.21% during trading on Friday, hitting $79.04. The company had a trading volume of 61,867 shares. The firm has a market capitalization of $9.78 billion, a P/E ratio of 20.47 and a beta of 0.24. The stock’s 50-day moving average is $81.13 and its 200 day moving average is $85.26. Darden Restaurants, Inc. has a 52-week low of $60.97 and a 52-week high of $95.22.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.99. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Darden Restaurants had a net margin of 6.60% and a return on equity of 26.06%. The firm’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 earnings per share. Equities research analysts predict that Darden Restaurants, Inc. will post $4.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued 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 is currently 65.12%.
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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