Trustmark National Bank Trust Department grew its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 39.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,426 shares of the restaurant operator’s stock after acquiring an additional 2,660 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Darden Restaurants were worth $852,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Farmers & Merchants Investments Inc. raised its stake in shares of Darden Restaurants by 255.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 1,422 shares of the restaurant operator’s stock worth $129,000 after acquiring an additional 1,022 shares in the last quarter. Huntington National Bank raised its stake in shares of Darden Restaurants by 4.6% during the second quarter. Huntington National Bank now owns 1,578 shares of the restaurant operator’s stock worth $143,000 after acquiring an additional 70 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Darden Restaurants by 4.6% during the first quarter. Van ECK Associates Corp now owns 1,625 shares of the restaurant operator’s stock worth $136,000 after acquiring an additional 71 shares in the last quarter. Ledyard National Bank raised its stake in shares of Darden Restaurants by 4.9% during the second quarter. Ledyard National Bank now owns 1,718 shares of the restaurant operator’s stock worth $155,000 after acquiring an additional 80 shares in the last quarter. Finally, Sippican Capital Advisors purchased a new position in shares of Darden Restaurants during the second quarter worth approximately $211,000. 88.65% of the stock is currently owned by hedge funds and other institutional investors.

Darden Restaurants, Inc. (DRI) traded down 1.30% during mid-day trading on Tuesday, reaching $83.27. 988,690 shares of the company traded hands. The company’s 50 day moving average price is $82.71 and its 200 day moving average price is $84.77. The firm has a market capitalization of $10.44 billion, a P/E ratio of 21.90 and a beta of 0.27. Darden Restaurants, Inc. has a 12-month low of $60.16 and a 12-month high of $95.22. Darden Restaurants also saw some unusual options trading on Monday. Investors bought 25,604 call options on the stock. This is an increase of approximately 1,415% compared to the typical daily volume of 1,690 call options.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Tuesday, June 27th. The restaurant operator reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.03. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.86 billion. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. Darden Restaurants’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.10 EPS. Equities research analysts predict that Darden Restaurants, Inc. will post $4.47 EPS for the current year.

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In other Darden Restaurants news, insider Eugene I. Lee, Jr. sold 93,125 shares of the company’s stock in a transaction 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 transaction, the insider now owns 165,062 shares of the company’s stock, valued at approximately $15,116,377.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.63% of the company’s stock.

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

Darden Restaurants 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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