Dynamic Technology Lab Private Ltd Takes Position in Darden Restaurants, Inc. (DRI)

Dynamic Technology Lab Private Ltd purchased a new stake in Darden Restaurants, Inc. (NYSE:DRI) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 32,595 shares of the restaurant operator’s stock, valued at approximately $2,727,000. Darden Restaurants makes up approximately 0.6% of Dynamic Technology Lab Private Ltd’s holdings, making the stock its largest position.

Other large investors also recently made changes to their positions in the company. Van ECK Associates Corp bought a new stake in shares of Darden Restaurants during the fourth quarter valued at $113,000. Ledyard National Bank increased its stake in shares of Darden Restaurants by 399.4% in the first quarter. Ledyard National Bank now owns 1,638 shares of the restaurant operator’s stock valued at $137,000 after buying an additional 1,310 shares in the last quarter. First Manhattan Co. increased its stake in shares of Darden Restaurants by 2.8% in the first quarter. First Manhattan Co. now owns 2,754 shares of the restaurant operator’s stock valued at $168,000 after buying an additional 75 shares in the last quarter. Burney Co. bought a new stake in shares of Darden Restaurants during the fourth quarter valued at $201,000. Finally, Whittier Trust Co. increased its stake in shares of Darden Restaurants by 5.0% in the first quarter. Whittier Trust Co. now owns 2,477 shares of the restaurant operator’s stock valued at $207,000 after buying an additional 117 shares in the last quarter. 87.64% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

Darden Restaurants, Inc. (DRI) traded up 0.34% on Wednesday, reaching $92.29. 610,500 shares of the company’s stock were exchanged. Darden Restaurants, Inc. has a 12-month low of $59.50 and a 12-month high of $93.02. The company has a market cap of $11.48 billion, a P/E ratio of 23.57 and a beta of 0.28. The firm has a 50 day moving average of $87.06 and a 200-day moving average of $78.74.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Monday, March 27th. The restaurant operator reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.05. Darden Restaurants had a net margin of 6.22% and a return on equity of 25.92%. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.87 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The firm’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts expect that Darden Restaurants, Inc. will post $3.99 EPS for the current fiscal year.

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Several equities research analysts have weighed in on DRI shares. Canaccord Genuity increased their price target on Darden Restaurants from $84.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, March 29th. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $86.00 price target on the stock in a research report on Tuesday, February 21st. Jefferies Group LLC increased their price target on Darden Restaurants from $72.00 to $80.00 and gave the stock a “hold” rating in a research report on Wednesday, March 29th. Credit Suisse Group AG reaffirmed a “hold” rating and set a $74.00 price target on shares of Darden Restaurants in a research report on Wednesday, March 29th. Finally, Royal Bank of Canada reaffirmed a “hold” rating on shares of Darden Restaurants in a research report on Thursday, March 23rd. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eight have issued a buy rating to the stock. Darden Restaurants has an average rating of “Hold” and a consensus target price of $78.00.

In other news, insider David C. George sold 84,283 shares of the stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $83.13, for a total value of $7,006,445.79. Following the sale, the insider now directly owns 78,010 shares in the company, valued at $6,484,971.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eugene I. Lee, Jr. sold 98,124 shares of the stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $83.19, for a total transaction of $8,162,935.56. Following the completion of the sale, the insider now owns 177,737 shares in the company, valued at $14,785,941.03. The disclosure for this sale can be found here. 0.69% of the stock is owned by corporate 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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “DRI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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