Acropolis Investment Management LLC lessened its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 76.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,230 shares of the restaurant operator’s stock after selling 10,548 shares during the quarter. Acropolis Investment Management LLC’s holdings in Darden Restaurants were worth $310,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in DRI. HS Management Partners LLC acquired a new stake in Darden Restaurants during the 3rd quarter worth $157,044,000. Janus Henderson Group PLC boosted its stake in Darden Restaurants by 113.6% during the 3rd quarter. Janus Henderson Group PLC now owns 1,576,026 shares of the restaurant operator’s stock worth $124,158,000 after purchasing an additional 838,341 shares during the last quarter. APG Asset Management N.V. boosted its stake in Darden Restaurants by 34.4% during the 3rd quarter. APG Asset Management N.V. now owns 2,361,712 shares of the restaurant operator’s stock worth $186,056,000 after purchasing an additional 604,364 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Darden Restaurants by 79.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 722,952 shares of the restaurant operator’s stock worth $56,954,000 after purchasing an additional 320,902 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Darden Restaurants by 2.7% during the 2nd quarter. BlackRock Inc. now owns 11,779,249 shares of the restaurant operator’s stock worth $1,065,316,000 after purchasing an additional 314,996 shares during the last quarter. 91.45% of the stock is currently owned by institutional investors.
Several equities research analysts have issued reports on DRI shares. Zacks Investment Research raised shares of Darden Restaurants from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 target price (down previously from $96.00) on shares of Darden Restaurants in a research note on Friday, September 22nd. Longbow Research started coverage on shares of Darden Restaurants in a research note on Friday, October 13th. They set a “neutral” rating on the stock. Maxim Group reaffirmed a “hold” rating and set a $90.00 target price on shares of Darden Restaurants in a research note on Thursday, September 21st. Finally, SunTrust Banks set a $94.00 price target on shares of Darden Restaurants and gave the company a “hold” rating in a research report on Monday, December 11th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $95.18.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $2.52 annualized dividend and a yield of 2.58%. Darden Restaurants’s dividend payout ratio (DPR) is currently 63.48%.
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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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