Darden Restaurants, Inc. (DRI) Stake Increased by Profund Advisors LLC
Profund Advisors LLC lifted its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 27.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,520 shares of the restaurant operator’s stock after buying an additional 962 shares during the quarter. Profund Advisors LLC’s holdings in Darden Restaurants were worth $409,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of DRI. UBS Asset Management Americas Inc. raised its position in 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. Sei Investments Co. grew its position in Darden Restaurants by 241.6% during the first quarter. Sei Investments Co. now owns 11,992 shares of the restaurant operator’s stock worth $1,004,000 after buying an additional 8,481 shares during the period. Mutual of America Capital Management LLC grew its position in Darden Restaurants by 5.0% during the first quarter. Mutual of America Capital Management LLC now owns 16,118 shares of the restaurant operator’s stock worth $1,349,000 after buying an additional 774 shares during the period. Pacer Advisors Inc. grew its position in Darden Restaurants by 44.3% during the first quarter. Pacer Advisors Inc. now owns 3,379 shares of the restaurant operator’s stock worth $283,000 after buying an additional 1,038 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in Darden Restaurants by 230.3% in the first quarter. JPMorgan Chase & Co. now owns 570,385 shares of the restaurant operator’s stock valued at $47,726,000 after buying an additional 397,716 shares in the last quarter. Hedge funds and other institutional investors own 88.65% of the company’s stock.
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Shares of Darden Restaurants, Inc. (DRI) opened at 80.11 on Wednesday. The stock has a market capitalization of $10.03 billion, a PE ratio of 20.74 and a beta of 0.24. Darden Restaurants, Inc. has a 12 month low of $60.69 and a 12 month high of $95.22. The company’s 50-day moving average is $82.03 and its 200-day moving average is $85.24.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.99. Darden Restaurants had a net margin of 6.60% and a return on equity of 26.06%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the firm earned $0.88 EPS. Darden Restaurants’s revenue for the quarter was up 12.9% on a year-over-year basis. Equities research analysts expect that Darden Restaurants, Inc. will post $4.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend is Friday, October 6th. Darden Restaurants’s payout ratio is 65.12%.
A number of equities research analysts have recently issued reports on the stock. Citigroup Inc. reduced their price target on shares of Darden Restaurants from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Monday. Canaccord Genuity restated a “buy” rating and issued a $97.00 price target on shares of Darden Restaurants in a report on Wednesday, September 27th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $85.00 price objective (down from $87.00) on shares of Darden Restaurants in a research note on Wednesday, September 27th. Wells Fargo & Company dropped their price objective on Darden Restaurants from $90.00 to $84.00 and set a “market perform” rating for the company in a research note on Wednesday, September 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $88.00 target price (down from $93.00) on shares of Darden Restaurants in a research report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $86.91.
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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