Northwestern Mutual Investment Management Company LLC Lowers Position in Darden Restaurants, Inc. (DRI)

Northwestern Mutual Investment Management Company LLC trimmed its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 82.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,353 shares of the restaurant operator’s stock after selling 20,746 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Darden Restaurants were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of DRI. Russell Investments Group Ltd. grew its stake in Darden Restaurants by 7.5% in the 1st quarter. Russell Investments Group Ltd. now owns 85,754 shares of the restaurant operator’s stock valued at $7,176,000 after acquiring an additional 5,990 shares during the last quarter. Comerica Bank grew its stake in Darden Restaurants by 4.0% in the 1st quarter. Comerica Bank now owns 39,607 shares of the restaurant operator’s stock valued at $3,405,000 after acquiring an additional 1,509 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in Darden Restaurants by 55.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 1,250,125 shares of the restaurant operator’s stock valued at $104,598,000 after acquiring an additional 443,669 shares during the last quarter. Sei Investments Co. grew its stake in Darden Restaurants by 241.6% in the 1st quarter. Sei Investments Co. now owns 11,992 shares of the restaurant operator’s stock valued at $1,004,000 after acquiring an additional 8,481 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in Darden Restaurants in the 1st quarter valued at about $226,000. 88.65% of the stock is currently owned by hedge funds and other institutional investors.

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Darden Restaurants, Inc. (DRI) opened at 84.37 on Tuesday. The company has a 50-day moving average of $82.71 and a 200 day moving average of $84.77. Darden Restaurants, Inc. has a 12-month low of $60.16 and a 12-month high of $95.22. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 22.19 and a beta of 0.27.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.03. The business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 EPS. Equities analysts anticipate that Darden Restaurants, Inc. will post $4.47 earnings per share for the current year.

A number of brokerages recently commented on DRI. Jefferies Group LLC increased their price objective on shares of Darden Restaurants from $80.00 to $90.00 and gave the company a “hold” rating in a research note on Wednesday, June 28th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $93.00 price target (up from $82.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. Maxim Group reaffirmed a “hold” rating and set a $90.00 price target on shares of Darden Restaurants in a research note on Wednesday, June 21st. Royal Bank Of Canada raised their price target on shares of Darden Restaurants from $86.00 to $96.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and set a $87.00 price target (up from $81.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $85.18.

In related news, insider Eugene I. Lee, Jr. sold 93,125 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $91.58, for a total value of $8,528,387.50. Following the completion of the sale, the insider now owns 165,062 shares of the company’s stock, valued at approximately $15,116,377.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.63% of the company’s stock.

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).

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

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