Pacer Advisors Inc. lowered its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 22.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,621 shares of the restaurant operator’s stock after selling 758 shares during the period. Pacer Advisors Inc.’s holdings in Darden Restaurants were worth $237,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in DRI. Farmers & Merchants Investments Inc. lifted its holdings in shares of Darden Restaurants by 255.5% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,422 shares of the restaurant operator’s stock valued at $129,000 after purchasing an additional 1,022 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Darden Restaurants by 4.6% in the first quarter. Van ECK Associates Corp now owns 1,625 shares of the restaurant operator’s stock valued at $136,000 after purchasing an additional 71 shares in the last quarter. Huntington National Bank lifted its holdings in shares of Darden Restaurants by 4.6% in the second quarter. Huntington National Bank now owns 1,578 shares of the restaurant operator’s stock valued at $143,000 after purchasing an additional 70 shares in the last quarter. Ledyard National Bank lifted its holdings in shares of Darden Restaurants by 4.9% in the second quarter. Ledyard National Bank now owns 1,718 shares of the restaurant operator’s stock valued at $155,000 after purchasing an additional 80 shares in the last quarter. Finally, MEMBERS Trust Co purchased a new stake in shares of Darden Restaurants in the first quarter valued at $201,000. Institutional investors own 88.76% of the company’s stock.
A number of analysts have recently issued reports on DRI shares. Bank of America Corporation set a $80.00 target price on Darden Restaurants and gave the company a “buy” rating in a report on Monday, June 26th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Darden Restaurants in a report on Monday, July 24th. Oppenheimer Holdings, Inc. increased their price objective on Darden Restaurants in a report on Monday, June 26th. Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Tuesday, July 11th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $102.00 price objective on shares of Darden Restaurants in a report on Friday, June 9th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have issued a buy rating to the stock. Darden Restaurants has an average rating of “Hold” and an average target price of $85.18.
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Shares of Darden Restaurants, Inc. (DRI) opened at 83.21 on Friday. The stock has a 50 day moving average price of $82.71 and a 200 day moving average price of $84.50. Darden Restaurants, Inc. has a 12 month low of $60.16 and a 12 month high of $95.22. The firm has a market capitalization of $10.44 billion, a P/E ratio of 21.88 and a beta of 0.27.
Darden Restaurants (NYSE:DRI) last issued its earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.03. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Darden Restaurants had a net margin of 6.68% and a return on equity of 26.18%. Darden Restaurants’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 EPS. On average, analysts expect that Darden Restaurants, Inc. will post $4.47 earnings per share for the current year.
In related news, insider Eugene I. Lee, Jr. sold 93,125 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were 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 in the company, valued at approximately $15,116,377.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.63% of the stock is currently owned by corporate insiders.
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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