Investment Centers of America Inc. lessened its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 8.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,523 shares of the restaurant operator’s stock after selling 322 shares during the period. Investment Centers of America Inc.’s holdings in Darden Restaurants were worth $317,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Honkamp Krueger Financial Services Inc. increased its stake in Darden Restaurants by 0.3% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 2,788 shares of the restaurant operator’s stock worth $252,000 after acquiring an additional 9 shares during the period. Bruderman Asset Management LLC increased its stake in Darden Restaurants by 0.4% during the 2nd quarter. Bruderman Asset Management LLC now owns 2,532 shares of the restaurant operator’s stock worth $229,000 after acquiring an additional 10 shares during the period. Wedbush Securities Inc. increased its stake in Darden Restaurants by 0.5% during the 2nd quarter. Wedbush Securities Inc. now owns 3,195 shares of the restaurant operator’s stock worth $289,000 after acquiring an additional 15 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Darden Restaurants by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,238 shares of the restaurant operator’s stock worth $835,000 after acquiring an additional 28 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Darden Restaurants by 0.3% during the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 9,630 shares of the restaurant operator’s stock worth $871,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 88.65% of the company’s stock.

In other news, insider Eugene I. Lee, Jr. sold 93,125 shares of the stock in a transaction dated 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 sale, the insider now directly owns 165,062 shares in the company, valued at $15,116,377.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.63% of the company’s stock.

DRI has been the topic of a number of recent research reports. Canaccord Genuity restated a “buy” rating and set a $102.00 price objective on shares of Darden Restaurants in a research note on Friday, June 9th. Robert W. Baird restated a “neutral” rating and set a $90.00 price objective (up previously from $85.00) on shares of Darden Restaurants in a research note on Monday, June 19th. Maxim Group restated a “hold” rating and set a $90.00 price objective on shares of Darden Restaurants in a research note on Wednesday, June 21st. Morgan Stanley restated an “equal weight” rating and set a $86.00 price objective (up previously from $83.00) on shares of Darden Restaurants in a research note on Thursday, June 22nd. Finally, Zacks Investment Research lowered Darden Restaurants from a “buy” rating to a “hold” rating in a research note 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 stock. Darden Restaurants currently has an average rating of “Hold” and a consensus target price of $85.18.

Darden Restaurants, Inc. (NYSE:DRI) opened at 84.37 on Tuesday. The firm has a market capitalization of $10.58 billion, a P/E ratio of 22.19 and a beta of 0.27. The firm’s 50-day moving average price is $82.71 and its 200 day moving average price is $84.77. Darden Restaurants, Inc. has a one year low of $60.16 and a one year high of $95.22. Darden Restaurants also saw unusually large options trading activity on Monday. Traders acquired 25,604 call options on the company. This represents an increase of 1,415% compared to the average daily volume of 1,690 call options.

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

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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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