Choate Investment Advisors reduced its position in Darden Restaurants, Inc. (NYSE:DRI) by 1.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,755 shares of the restaurant operator’s stock after selling 193 shares during the period. Choate Investment Advisors’ holdings in Darden Restaurants were worth $1,244,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in DRI. BlackRock Inc. increased its position in shares of Darden Restaurants by 4,601.4% in the first quarter. BlackRock Inc. now owns 11,464,253 shares of the restaurant operator’s stock worth $959,215,000 after acquiring an additional 11,220,403 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Darden Restaurants by 66.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,275,399 shares of the restaurant operator’s stock worth $115,348,000 after acquiring an additional 510,969 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Darden Restaurants by 3.6% in the first quarter. Vanguard Group Inc. now owns 14,211,162 shares of the restaurant operator’s stock worth $1,189,048,000 after acquiring an additional 487,366 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Darden Restaurants by 55.0% in the first quarter. UBS Asset Management Americas Inc. now owns 1,250,125 shares of the restaurant operator’s stock worth $104,598,000 after acquiring an additional 443,669 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its position in shares of Darden Restaurants by 982.1% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 449,559 shares of the restaurant operator’s stock worth $37,613,000 after acquiring an additional 408,013 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.

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Several research analysts have recently weighed in on DRI shares. Canaccord Genuity reissued a “buy” rating and issued a $102.00 target price on shares of Darden Restaurants in a research report on Friday, June 9th. Robert W. Baird reissued a “neutral” rating and issued a $90.00 target price (up from $85.00) on shares of Darden Restaurants in a research report on Monday, June 19th. Maxim Group reissued a “hold” rating and issued a $90.00 target price on shares of Darden Restaurants in a research report on Wednesday, June 21st. Morgan Stanley reissued an “equal weight” rating and issued a $86.00 target price (up from $83.00) on shares of Darden Restaurants in a research report on Thursday, June 22nd. Finally, Zacks Investment Research downgraded shares of Darden Restaurants from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $85.18.

Shares of Darden Restaurants, Inc. (NYSE:DRI) traded up 0.79% during mid-day trading on Friday, hitting $83.86. 2,070,694 shares of the stock were exchanged. The company has a market capitalization of $10.52 billion, a PE ratio of 22.05 and a beta of 0.27. The firm has a 50-day moving average price of $82.69 and a 200 day moving average price of $84.57. Darden Restaurants, Inc. has a 12-month low of $60.16 and a 12-month high of $95.22.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.03. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Darden Restaurants had a net margin of 6.68% and a return on equity of 26.18%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the business earned $1.10 EPS. On average, equities research analysts expect that Darden Restaurants, Inc. will post $4.47 earnings per share for the current year.

In other news, insider Eugene I. Lee, Jr. sold 93,125 shares of the firm’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $91.58, for a total transaction of $8,528,387.50. Following the completion of the transaction, the insider now directly owns 165,062 shares of the company’s stock, valued at approximately $15,116,377.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% 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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Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

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