State of Alaska Department of Revenue lifted its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 11.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 72,517 shares of the restaurant operator’s stock after purchasing an additional 7,550 shares during the period. State of Alaska Department of Revenue’s holdings in Darden Restaurants were worth $6,960,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. D.A. Davidson & CO. grew its stake in shares of Darden Restaurants by 1.7% during the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock worth $114,000 after purchasing an additional 21 shares during the period. Argent Capital Management LLC grew its stake in shares of Darden Restaurants by 2.0% during the 2nd quarter. Argent Capital Management LLC now owns 5,125 shares of the restaurant operator’s stock worth $464,000 after purchasing an additional 100 shares during the period. Hall Capital Management Co. Inc. grew its stake in shares of Darden Restaurants by 1.9% during the 2nd quarter. Hall Capital Management Co. Inc. now owns 15,927 shares of the restaurant operator’s stock worth $1,440,000 after purchasing an additional 297 shares during the period. People s United Financial Inc. grew its stake in shares of Darden Restaurants by 1.6% during the 2nd quarter. People s United Financial Inc. now owns 21,169 shares of the restaurant operator’s stock worth $1,915,000 after purchasing an additional 332 shares during the period. Finally, Thrivent Financial For Lutherans grew its stake in shares of Darden Restaurants by 7.7% during the 2nd quarter. Thrivent Financial For Lutherans now owns 5,456 shares of the restaurant operator’s stock worth $494,000 after purchasing an additional 389 shares during the period. 91.83% of the stock is currently owned by institutional investors and hedge funds.

DRI has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $94.00 price target on the stock in a research note on Friday, September 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target (down from $96.00) on shares of Darden Restaurants in a research note on Friday, September 22nd. Stephens reaffirmed an “equal weight” rating and set a $95.00 price target on shares of Darden Restaurants in a research note on Tuesday, September 26th. Robert W. Baird upgraded shares of Darden Restaurants from a “neutral” rating to an “outperform” rating and set a $94.00 price objective on the stock in a research report on Wednesday, September 27th. Finally, Maxim Group upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $93.00 in a research report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have given a buy rating to the stock. Darden Restaurants presently has a consensus rating of “Hold” and an average target price of $96.22.

Darden Restaurants, Inc. (NYSE DRI) opened at $99.04 on Friday. The stock has a market cap of $12,027.25, a PE ratio of 25.39, a price-to-earnings-growth ratio of 1.89 and a beta of 0.20. The company has a quick ratio of 0.20, a current ratio of 0.34 and a debt-to-equity ratio of 0.47. Darden Restaurants, Inc. has a 1-year low of $71.43 and a 1-year high of $100.11.

Darden Restaurants (NYSE:DRI) last released its earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. Darden Restaurants had a net margin of 6.46% and a return on equity of 26.24%. equities research analysts predict that Darden Restaurants, Inc. will post 4.76 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a $0.63 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $2.52 dividend on an annualized basis and a yield of 2.54%. Darden Restaurants’s dividend payout ratio (DPR) is 64.62%.

In other Darden Restaurants news, CFO Ricardo Cardenas sold 10,783 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $97.17, for a total value of $1,047,784.11. Following the transaction, the chief financial officer now directly owns 20,046 shares in the company, valued at approximately $1,947,869.82. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Eugene I. Lee, Jr. sold 59,783 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $96.80, for a total transaction of $5,786,994.40. Following the completion of the transaction, the insider now owns 164,396 shares in the company, valued at $15,913,532.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,866 shares of company stock worth $7,252,094. 0.63% of the stock is owned by insiders.

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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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Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

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