The Darden Restaurants Inc. (DRI) Shares Bought by Analytic Investors LLC

The Darden Restaurants Inc. (DRI) Shares Bought by Analytic Investors LLC

Analytic Investors LLC increased its stake in Darden Restaurants Inc. (NYSE:DRI) by 8.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,008,927 shares of the restaurant operator’s stock after buying an additional 77,431 shares during the period. Analytic Investors LLC owned approximately 0.82% of Darden Restaurants worth $61,868,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Darden Restaurants by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 106,984 shares of the restaurant operator’s stock valued at $6,776,000 after buying an additional 8,893 shares during the period. Bank of New York Mellon Corp boosted its position in Darden Restaurants by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 3,902,816 shares of the restaurant operator’s stock valued at $247,202,000 after buying an additional 308,834 shares during the period. BlackRock Investment Management LLC boosted its position in Darden Restaurants by 13.8% in the third quarter. BlackRock Investment Management LLC now owns 332,160 shares of the restaurant operator’s stock valued at $20,368,000 after buying an additional 40,209 shares during the period. Raab & Moskowitz Asset Management LLC boosted its position in Darden Restaurants by 50.5% in the second quarter. Raab & Moskowitz Asset Management LLC now owns 23,077 shares of the restaurant operator’s stock valued at $1,461,000 after buying an additional 7,741 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Darden Restaurants by 8.2% in the third quarter. BNP Paribas Arbitrage SA now owns 175,298 shares of the restaurant operator’s stock valued at $10,749,000 after buying an additional 13,279 shares during the period. Institutional investors own 87.18% of the company’s stock.

Shares of Darden Restaurants Inc. (NYSE:DRI) opened at 73.16 on Thursday. Darden Restaurants Inc. has a 52-week low of $55.77 and a 52-week high of $79.43. The company’s 50 day moving average price is $74.71 and its 200 day moving average price is $66.29. The stock has a market capitalization of $9.08 billion, a PE ratio of 21.43 and a beta of 0.28.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Tuesday, December 20th. The restaurant operator reported $0.64 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.64. Darden Restaurants had a return on equity of 25.92% and a net margin of 6.22%. The business earned $1.64 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the prior year, the business earned $0.54 EPS. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, equities research analysts anticipate that Darden Restaurants Inc. will post $3.94 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, January 6th. Darden Restaurants’s dividend payout ratio is 65.50%.

Several analysts have issued reports on the company. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $70.00 target price on shares of Darden Restaurants in a research note on Friday, September 30th. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $83.00 target price for the company in a research note on Wednesday, November 23rd. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Darden Restaurants in a research note on Friday, October 7th. Bank of America Corp. reaffirmed a “sell” rating on shares of Darden Restaurants in a research note on Wednesday, October 5th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $84.00 target price (up previously from $74.00) on shares of Darden Restaurants in a research note on Tuesday, December 20th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have issued a buy rating to the company. Darden Restaurants currently has an average rating of “Hold” and an average price target of $74.27.

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).

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