TIAA CREF Investment Management LLC grew its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 47.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 527,852 shares of the restaurant operator’s stock after purchasing an additional 169,570 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.42% of Darden Restaurants worth $47,739,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of DRI. Russell Investments Group Ltd. grew its position in shares of Darden Restaurants by 7.5% in the first quarter. Russell Investments Group Ltd. now owns 85,754 shares of the restaurant operator’s stock valued at $7,176,000 after purchasing an additional 5,990 shares during the last quarter. Comerica Bank grew its position in shares of Darden Restaurants by 4.0% in the first quarter. Comerica Bank now owns 39,607 shares of the restaurant operator’s stock valued at $3,405,000 after purchasing an additional 1,509 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Darden Restaurants by 55.0% in the first quarter. UBS Asset Management Americas Inc. now owns 1,250,125 shares of the restaurant operator’s stock valued at $104,598,000 after purchasing an additional 443,669 shares during the last quarter. Sei Investments Co. grew its position in shares of Darden Restaurants by 241.6% in the first quarter. Sei Investments Co. now owns 11,992 shares of the restaurant operator’s stock valued at $1,004,000 after purchasing an additional 8,481 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new stake in shares of Darden Restaurants in the first quarter valued at about $226,000. 88.65% of the stock is currently owned by institutional investors.
In other Darden Restaurants news, insider Eugene I. Lee, Jr. sold 93,125 shares of the stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $91.58, for a total transaction 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 is accessible through the SEC website. Corporate insiders own 0.63% of the company’s stock.
Darden Restaurants, Inc. (NYSE DRI) opened at 83.31 on Wednesday. The stock has a 50 day moving average of $82.69 and a 200-day moving average of $84.83. Darden Restaurants, Inc. has a 1-year low of $60.16 and a 1-year high of $95.22. The company has a market cap of $10.45 billion, a PE ratio of 21.91 and a beta of 0.27. Darden Restaurants also was the recipient of unusually large options trading activity on Monday. Investors purchased 25,604 call options on the company. This represents an increase of approximately 1,415% compared to the average volume of 1,690 call options.
Darden Restaurants (NYSE:DRI) last announced its earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.15 by $0.03. Darden Restaurants had a net margin of 6.68% and a return on equity of 26.18%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the business posted $1.10 EPS. The business’s revenue was up 8.1% compared to the same quarter last year. On average, equities research analysts predict that Darden Restaurants, Inc. will post $4.47 earnings per share for the current year.
Several brokerages have recently issued reports on DRI. Robert W. Baird reaffirmed a “hold” rating and issued a $94.00 price target on shares of Darden Restaurants in a research report on Tuesday. ValuEngine raised Darden Restaurants from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub raised Darden Restaurants from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Darden Restaurants in a research report on Monday, July 24th. Finally, Zacks Investment Research downgraded Darden Restaurants from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have given a buy rating to the stock. Darden Restaurants has an average rating of “Hold” and an average price target of $85.18.
About Darden Restaurants
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).
Receive News & Ratings for Darden Restaurants Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants Inc. and related companies with MarketBeat.com's FREE daily email newsletter.