Gotham Asset Management LLC lessened its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 35.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 56,406 shares of the restaurant operator’s stock after selling 31,074 shares during the period. Gotham Asset Management LLC’s holdings in Darden Restaurants were worth $5,101,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of DRI. Sei Investments Co. grew its holdings in Darden Restaurants by 241.6% during the 1st quarter. Sei Investments Co. now owns 11,992 shares of the restaurant operator’s stock worth $1,004,000 after acquiring an additional 8,481 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Darden Restaurants by 0.6% during the 1st quarter. Alliancebernstein L.P. now owns 222,230 shares of the restaurant operator’s stock worth $18,594,000 after acquiring an additional 1,318 shares in the last quarter. Van ECK Associates Corp grew its holdings in Darden Restaurants by 4.6% during the 1st quarter. Van ECK Associates Corp now owns 1,625 shares of the restaurant operator’s stock worth $136,000 after acquiring an additional 71 shares in the last quarter. OppenheimerFunds Inc. grew its holdings in Darden Restaurants by 10.3% during the 1st quarter. OppenheimerFunds Inc. now owns 11,817 shares of the restaurant operator’s stock worth $989,000 after acquiring an additional 1,102 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Darden Restaurants by 18.9% during the 1st quarter. Wellington Management Group LLP now owns 318,818 shares of the restaurant operator’s stock worth $26,676,000 after acquiring an additional 50,678 shares in the last quarter. Institutional investors own 89.85% of the company’s stock.
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Shares of Darden Restaurants, Inc. (NYSE:DRI) opened at 79.28 on Wednesday. Darden Restaurants, Inc. has a 12 month low of $60.97 and a 12 month high of $95.22. The stock has a market cap of $9.80 billion, a P/E ratio of 20.53 and a beta of 0.24. The stock’s 50 day moving average is $81.42 and its 200 day moving average is $85.35.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 EPS for the quarter, hitting analysts’ consensus estimates of $0.99. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate 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 was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 earnings per share. Analysts predict that Darden Restaurants, Inc. will post $4.45 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Friday, October 6th. Darden Restaurants’s dividend payout ratio is presently 65.12%.
Several research analysts have commented on the stock. J P Morgan Chase & Co reiterated a “neutral” rating and set a $93.00 price target (up previously from $82.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Jefferies Group LLC boosted their price target on shares of Darden Restaurants from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating and set a $87.00 price target (up previously from $81.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Maxim Group reiterated a “hold” rating and set a $90.00 price target on shares of Darden Restaurants in a report on Wednesday, June 21st. Finally, Royal Bank Of Canada boosted their price target 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. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have issued a buy rating to the company. Darden Restaurants presently has a consensus rating of “Hold” and an average target price of $87.82.
About Darden Restaurants
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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