Ffcm LLC decreased its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 32.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,631 shares of the restaurant operator’s stock after selling 3,198 shares during the period. Ffcm LLC’s holdings in Darden Restaurants were worth $523,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. D.A. Davidson & CO. raised its stake in shares of Darden Restaurants by 1.7% in the second quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock worth $114,000 after purchasing an additional 21 shares during the last quarter. M&R Capital Management Inc. purchased a new position in shares of Darden Restaurants in the second quarter worth about $108,000. Moisand Fitzgerald Tamayo LLC purchased a new position in Darden Restaurants during the third quarter valued at approximately $115,000. Huntington National Bank raised its position in Darden Restaurants by 4.6% during the second quarter. Huntington National Bank now owns 1,578 shares of the restaurant operator’s stock valued at $143,000 after acquiring an additional 70 shares in the last quarter. Finally, First National Trust Co. purchased a new position in Darden Restaurants during the second quarter valued at approximately $217,000. Institutional investors and hedge funds own 91.94% of the company’s stock.
Several research analysts recently weighed in on the company. BidaskClub upgraded Darden Restaurants from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Stephens reissued an “equal weight” rating and issued a $95.00 price objective on shares of Darden Restaurants in a report on Tuesday, September 26th. Oppenheimer reaffirmed a “buy” rating and issued a $100.00 price target on shares of Darden Restaurants in a research note on Wednesday, September 20th. Jefferies Group reaffirmed a “hold” rating and issued a $82.00 price target (down from $90.00) on shares of Darden Restaurants in a research note on Wednesday, September 27th. Finally, Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Friday, September 22nd. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company. Darden Restaurants has an average rating of “Hold” and a consensus target price of $87.59.
Darden Restaurants (NYSE:DRI) last announced its earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 return on equity of 26.06% and a net margin of 6.60%. The business’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. research analysts anticipate that Darden Restaurants, Inc. will post 4.43 earnings per share for the current year.
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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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