Vanguard Group Inc. raised its position in shares of Darden Restaurants Inc. (NYSE:DRI) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,676,075 shares of the restaurant operator’s stock after buying an additional 640,845 shares during the period. Vanguard Group Inc. owned approximately 10.04% of Darden Restaurants worth $802,903,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in DRI. Bruderman Asset Management LLC raised its position in shares of Darden Restaurants by 0.4% in the second quarter. Bruderman Asset Management LLC now owns 3,387 shares of the restaurant operator’s stock worth $215,000 after buying an additional 13 shares during the last quarter. HM Payson & Co. raised its stake in Darden Restaurants by 0.3% in the second quarter. HM Payson & Co. now owns 18,984 shares of the restaurant operator’s stock valued at $1,202,000 after buying an additional 55 shares in the last quarter. World Asset Management Inc raised its stake in Darden Restaurants by 1.2% in the second quarter. World Asset Management Inc now owns 11,556 shares of the restaurant operator’s stock valued at $732,000 after buying an additional 132 shares in the last quarter. Peddock Capital Advisors LLC raised its stake in Darden Restaurants by 2.3% in the second quarter. Peddock Capital Advisors LLC now owns 7,755 shares of the restaurant operator’s stock valued at $491,000 after buying an additional 171 shares in the last quarter. Finally, Juncture Wealth Strategies LLC raised its stake in Darden Restaurants by 1.3% in the second quarter. Juncture Wealth Strategies LLC now owns 15,600 shares of the restaurant operator’s stock valued at $988,000 after buying an additional 200 shares in the last quarter. 94.57% of the stock is currently owned by institutional investors.
Darden Restaurants Inc. (NYSE:DRI) traded down 1.54% during trading on Tuesday, hitting $61.51. The company had a trading volume of 246,241 shares. The company has a market capitalization of $7.76 billion, a price-to-earnings ratio of 21.22 and a beta of 0.52. The firm has a 50-day moving average of $62.15 and a 200 day moving average of $64.11. Darden Restaurants Inc. has a 12-month low of $53.38 and a 12-month high of $69.25.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, June 30th. The restaurant operator reported $1.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.08 by $0.02. Darden Restaurants had a return on equity of 21.95% and a net margin of 5.41%. The firm earned $1.79 billion during the quarter. During the same quarter in the previous year, the firm posted $1.01 EPS. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. On average, equities research analysts forecast that Darden Restaurants Inc. will post $3.87 earnings per share for the current year.
Several equities research analysts recently issued reports on the company. Zacks Investment Research lowered Darden Restaurants from a “hold” rating to a “sell” rating in a research report on Tuesday, September 20th. Robert W. Baird reissued a “neutral” rating on shares of Darden Restaurants in a research report on Thursday, September 8th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $70.00 price target on shares of Darden Restaurants in a research report on Wednesday, September 7th. BMO Capital Markets reissued a “hold” rating and set a $64.00 price target on shares of Darden Restaurants in a research report on Thursday, September 1st. Finally, Piper Jaffray Cos. reissued an “overweight” rating and set a $76.00 price target on shares of Darden Restaurants in a research report on Thursday, August 25th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $71.06.
In other Darden Restaurants news, Director James P. Fogarty acquired 3,000 shares of the business’s stock in a transaction on Thursday, July 7th. The stock was purchased at an average price of $61.70 per share, for a total transaction of $185,100.00. Following the transaction, the director now owns 7,890 shares in the company, valued at approximately $486,813. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is owned by company insiders.
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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