Darden Restaurants, Inc. (DRI) Shares Sold by Simmons Bank
Simmons Bank cut its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,946 shares of the restaurant operator’s stock after selling 280 shares during the period. Simmons Bank’s holdings in Darden Restaurants were worth $1,442,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Darden Restaurants by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 14,211,162 shares of the restaurant operator’s stock worth $1,189,048,000 after purchasing an additional 487,366 shares in the last quarter. BlackRock Inc. lifted its holdings in Darden Restaurants by 2.7% in the 2nd quarter. BlackRock Inc. now owns 11,779,249 shares of the restaurant operator’s stock worth $1,065,316,000 after purchasing an additional 314,996 shares in the last quarter. State Street Corp lifted its holdings in Darden Restaurants by 0.3% in the 2nd quarter. State Street Corp now owns 5,479,782 shares of the restaurant operator’s stock worth $495,583,000 after purchasing an additional 14,883 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Darden Restaurants by 0.5% in the 2nd quarter. Wells Fargo & Company MN now owns 3,244,502 shares of the restaurant operator’s stock worth $293,433,000 after purchasing an additional 15,194 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Darden Restaurants by 6.8% in the 1st quarter. Geode Capital Management LLC now owns 1,560,672 shares of the restaurant operator’s stock worth $130,440,000 after purchasing an additional 99,787 shares in the last quarter. 88.65% of the stock is currently owned by institutional investors.
Shares of Darden Restaurants, Inc. (NYSE:DRI) traded up 2.20% during trading on Friday, reaching $80.83. The company’s stock had a trading volume of 1,927,436 shares. The company has a market capitalization of $10.00 billion, a PE ratio of 20.93 and a beta of 0.24. The stock has a 50 day moving average of $81.69 and a 200-day moving average of $85.19. Darden Restaurants, Inc. has a 1-year low of $60.97 and a 1-year high of $95.22.
Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.99. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. The firm 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 business posted $0.88 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. On average, analysts expect that Darden Restaurants, Inc. will post $4.45 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, October 6th. This represents a $2.52 dividend on an annualized basis and a yield of 3.12%. Darden Restaurants’s payout ratio is 65.12%.
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DRI has been the topic of a number of research analyst reports. ValuEngine raised Darden Restaurants from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Oppenheimer Holdings, Inc. boosted their price target on Darden Restaurants in a report on Monday, June 26th. Robert W. Baird reissued a “neutral” rating and issued a $90.00 price target (up from $85.00) on shares of Darden Restaurants in a report on Monday, June 19th. Maxim Group reissued a “hold” rating and issued a $90.00 price target on shares of Darden Restaurants in a report on Thursday, September 21st. Finally, Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $87.82.
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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