Private Advisor Group LLC purchased a new stake in shares of Darden Restaurants, Inc. (NYSE:DRI) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,193 shares of the restaurant operator’s stock, valued at approximately $374,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DRI. BlackRock Inc. increased its position in shares of Darden Restaurants by 4,601.4% during the first quarter. BlackRock Inc. now owns 11,464,253 shares of the restaurant operator’s stock valued at $959,215,000 after buying an additional 11,220,403 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Darden Restaurants by 66.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,275,399 shares of the restaurant operator’s stock valued at $115,348,000 after buying an additional 510,969 shares during the period. Vanguard Group Inc. increased its position in shares of Darden Restaurants by 3.6% during the first quarter. Vanguard Group Inc. now owns 14,211,162 shares of the restaurant operator’s stock valued at $1,189,048,000 after buying an additional 487,366 shares during the period. UBS Asset Management Americas Inc. increased its position in shares of Darden Restaurants by 55.0% during the first quarter. UBS Asset Management Americas Inc. now owns 1,250,125 shares of the restaurant operator’s stock valued at $104,598,000 after buying an additional 443,669 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its position in shares of Darden Restaurants by 982.1% during the first quarter. Cornerstone Capital Management Holdings LLC. now owns 449,559 shares of the restaurant operator’s stock valued at $37,613,000 after buying an additional 408,013 shares during the period. Hedge funds and other institutional investors own 88.65% of the company’s stock.

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In other news, insider Eugene I. Lee, Jr. sold 93,125 shares of Darden Restaurants stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $91.58, for a total value of $8,528,387.50. Following the completion of the transaction, the insider now owns 165,062 shares in the company, valued at approximately $15,116,377.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.63% of the company’s stock.

Shares of Darden Restaurants, Inc. (DRI) opened at 83.86 on Monday. The stock has a market cap of $10.52 billion, a price-to-earnings ratio of 22.05 and a beta of 0.27. Darden Restaurants, Inc. has a 1-year low of $60.16 and a 1-year high of $95.22. The stock’s 50 day moving average price is $82.69 and its 200-day moving average price is $84.57.

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

DRI has been the topic of several analyst reports. Oppenheimer Holdings, Inc. upped their price target on Darden Restaurants in a research report on Monday, June 26th. Bank of America Corporation set a $80.00 price target on Darden Restaurants and gave the company a “buy” rating in a research report on Monday, June 26th. Canaccord Genuity reiterated a “buy” rating and set a $102.00 price target on shares of Darden Restaurants in a research report on Friday, June 9th. Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research report on Tuesday, July 11th. Finally, BidaskClub cut Darden Restaurants from a “strong-buy” rating to a “buy” rating in a research report on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $85.18.

About Darden Restaurants

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).

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

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