Amalgamated Bank increased its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 65.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,717 shares of the restaurant operator’s stock after purchasing an additional 5,798 shares during the quarter. Amalgamated Bank’s holdings in Darden Restaurants were worth $1,331,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of DRI. Russell Investments Group Ltd. raised its holdings in Darden Restaurants by 7.5% during the first quarter. Russell Investments Group Ltd. now owns 85,754 shares of the restaurant operator’s stock worth $7,176,000 after purchasing an additional 5,990 shares during the last quarter. Comerica Bank raised its holdings in Darden Restaurants by 4.0% during the first quarter. Comerica Bank now owns 39,607 shares of the restaurant operator’s stock worth $3,405,000 after purchasing an additional 1,509 shares during the last quarter. UBS Asset Management Americas Inc. raised its holdings in Darden Restaurants by 55.0% during the first quarter. UBS Asset Management Americas Inc. now owns 1,250,125 shares of the restaurant operator’s stock worth $104,598,000 after purchasing an additional 443,669 shares during the last quarter. Sei Investments Co. increased its position in Darden Restaurants by 241.6% during the first quarter. Sei Investments Co. now owns 11,992 shares of the restaurant operator’s stock worth $1,004,000 after buying an additional 8,481 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new position in Darden Restaurants during the first quarter worth $226,000. 88.65% of the stock is owned by hedge funds and other institutional investors.
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Shares of Darden Restaurants, Inc. (NYSE DRI) opened at 78.78 on Friday. The firm has a market capitalization of $9.86 billion, a P/E ratio of 20.40 and a beta of 0.27. The firm has a 50-day moving average price of $82.69 and a 200-day moving average price of $84.83. Darden Restaurants, Inc. has a 52-week low of $60.16 and a 52-week high of $95.22.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.99. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. Darden Restaurants had a net margin of 6.60% and a return on equity of 26.06%. The company’s revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the business posted $0.88 earnings per share. On average, equities research analysts anticipate that Darden Restaurants, Inc. will post $4.45 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, October 6th. Darden Restaurants’s dividend payout ratio is currently 65.12%.
Several research firms have weighed in on DRI. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $100.00 price target on shares of Darden Restaurants in a research report on Thursday. BMO Capital Markets reissued a “market perform” rating and set a $85.00 price target (down previously from $87.00) on shares of Darden Restaurants in a research report on Wednesday. Jefferies Group LLC reaffirmed a “hold” rating and issued a $82.00 price objective (down previously from $90.00) on shares of Darden Restaurants in a research report on Wednesday. Stephens lowered their price objective on Darden Restaurants from $95.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $88.00 price objective (down previously from $93.00) on shares of Darden Restaurants in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $84.86.
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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