KBC Group NV Trims Stake in Darden Restaurants, Inc. (DRI)
KBC Group NV cut its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 4.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,581 shares of the restaurant operator’s stock after selling 5,022 shares during the period. KBC Group NV owned about 0.09% of Darden Restaurants worth $8,396,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. grew its holdings in Darden Restaurants by 1.7% during the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock valued at $114,000 after purchasing an additional 21 shares during the last quarter. M&R Capital Management Inc. bought a new position in Darden Restaurants during the 2nd quarter valued at about $108,000. Moisand Fitzgerald Tamayo LLC bought a new position in Darden Restaurants during the 3rd quarter valued at about $115,000. Grove Bank & Trust grew its holdings in Darden Restaurants by 155.6% during the 3rd quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock valued at $145,000 after purchasing an additional 1,120 shares during the last quarter. Finally, First National Trust Co. bought a new position in Darden Restaurants during the 2nd quarter valued at about $217,000. Hedge funds and other institutional investors own 91.94% of the company’s stock.
Several brokerages recently commented on DRI. Royal Bank Of Canada cut their price target on shares of Darden Restaurants from $96.00 to $90.00 and set a “sector perform” rating on the stock in a report on Wednesday, September 27th. Oppenheimer reiterated a “buy” rating and set a $100.00 price target on shares of Darden Restaurants in a report on Wednesday, September 20th. BMO Capital Markets set a $80.00 price target on shares of Darden Restaurants and gave the company a “hold” rating in a report on Thursday, October 19th. Jefferies Group reiterated a “hold” rating and set a $82.00 price target (down from $90.00) on shares of Darden Restaurants in a report on Wednesday, September 27th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $88.00 price target (down from $93.00) on shares of Darden Restaurants in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $87.59.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.99. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. Darden Restaurants had a net margin of 6.60% and a return on equity of 26.06%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 EPS. equities research analysts anticipate that Darden Restaurants, Inc. will post 4.43 earnings per share for the current year.
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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