Earnest Partners LLC cut its position in Darden Restaurants, Inc. (NYSE:DRI) by 2.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 660,169 shares of the restaurant operator’s stock after selling 15,348 shares during the quarter. Earnest Partners LLC owned about 0.53% of Darden Restaurants worth $59,706,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of DRI. Sei Investments Co. increased its stake in Darden Restaurants by 241.6% during the 1st quarter. Sei Investments Co. now owns 11,992 shares of the restaurant operator’s stock valued at $1,004,000 after buying an additional 8,481 shares during the period. Pacer Advisors Inc. increased its stake in Darden Restaurants by 44.3% during the 1st quarter. Pacer Advisors Inc. now owns 3,379 shares of the restaurant operator’s stock valued at $283,000 after buying an additional 1,038 shares during the period. Blair William & Co. IL increased its stake in Darden Restaurants by 108.1% during the 1st quarter. Blair William & Co. IL now owns 7,099 shares of the restaurant operator’s stock valued at $551,000 after buying an additional 3,687 shares during the period. Alliancebernstein L.P. increased its stake in Darden Restaurants by 0.6% during the 1st quarter. Alliancebernstein L.P. now owns 222,230 shares of the restaurant operator’s stock valued at $18,594,000 after buying an additional 1,318 shares during the period. Finally, HRT Financial LLC acquired a new position in shares of Darden Restaurants in the 1st quarter worth approximately $326,000. Hedge funds and other institutional investors own 89.56% of the company’s stock.
Darden Restaurants, Inc. (DRI) traded up 0.742% during mid-day trading on Tuesday, reaching $80.795. The company had a trading volume of 313,944 shares. The firm’s 50-day moving average is $80.96 and its 200-day moving average is $85.33. Darden Restaurants, Inc. has a one year low of $60.97 and a one year high of $95.22. The firm has a market capitalization of $9.99 billion, a P/E ratio of 20.921 and a beta of 0.25.
Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 EPS for the quarter, meeting the consensus estimate of $0.99. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. Darden Restaurants had a return on equity of 23.39% and a net margin of 6.27%. The company’s revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.88 EPS. On average, equities research analysts anticipate that Darden Restaurants, Inc. will post $4.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, October 6th. This represents a $2.52 annualized dividend and a dividend yield of 3.14%. Darden Restaurants’s dividend payout ratio (DPR) is presently 65.12%.
Several brokerages have recently issued reports on DRI. Argus cut shares of Darden Restaurants from a “buy” rating to a “hold” rating and set a $88.00 price objective on the stock. in a research note on Tuesday. Longbow Research began coverage on shares of Darden Restaurants in a research report on Friday. They issued a “neutral” rating on the stock. ValuEngine downgraded shares of Darden Restaurants from a “buy” rating to a “hold” rating in a research report on Thursday, October 5th. Stifel Nicolaus initiated coverage on shares of Darden Restaurants in a report on Monday, October 2nd. They set a “buy” rating and a $92.00 price target for the company. Finally, Citigroup Inc. decreased their price target 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. One investment analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $87.82.
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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