Calamos Advisors LLC increased its position in shares of Darden Restaurants Inc. (NYSE:DRI) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 20,325 shares of the restaurant operator’s stock after buying an additional 8 shares during the period. Calamos Advisors LLC’s holdings in Darden Restaurants were worth $1,287,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Aperio Group LLC increased its position in Darden Restaurants by 29.8% in the first quarter. Aperio Group LLC now owns 47,906 shares of the restaurant operator’s stock worth $3,176,000 after buying an additional 10,988 shares in the last quarter. Prudential Financial Inc. increased its position in Darden Restaurants by 26.0% in the first quarter. Prudential Financial Inc. now owns 182,051 shares of the restaurant operator’s stock worth $12,070,000 after buying an additional 37,547 shares in the last quarter. BlackRock Group LTD increased its position in Darden Restaurants by 5.2% in the first quarter. BlackRock Group LTD now owns 1,233,733 shares of the restaurant operator’s stock worth $81,798,000 after buying an additional 60,947 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Darden Restaurants by 0.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,379,482 shares of the restaurant operator’s stock worth $224,060,000 after buying an additional 14,628 shares in the last quarter. Finally, Tobam bought a new position in Darden Restaurants during the first quarter worth $990,000. Hedge funds and other institutional investors own 94.57% of the company’s stock.
Shares of Darden Restaurants Inc. (NYSE:DRI) traded up 0.65% on Wednesday, hitting $61.56. The stock had a trading volume of 2,613,147 shares. The firm has a market capitalization of $7.77 billion, a price-to-earnings ratio of 21.24 and a beta of 0.41. Darden Restaurants Inc. has a 1-year low of $53.38 and a 1-year high of $68.68. The firm has a 50 day moving average of $61.96 and a 200-day moving average of $63.83.
Darden Restaurants (NYSE:DRI) last posted its earnings results on Tuesday, October 4th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.06. The company had revenue of $1.71 billion for the quarter. Darden Restaurants had a return on equity of 21.95% and a net margin of 5.41%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.68 earnings per share. Equities analysts predict that Darden Restaurants Inc. will post $3.87 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be paid a $0.56 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.64%. Darden Restaurants’s payout ratio is presently 76.98%.
DRI has been the subject of a number of recent analyst reports. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a research report on Wednesday, June 15th. Tigress Financial raised Darden Restaurants from a “neutral” rating to a “buy” rating in a research report on Thursday, June 23rd. Wells Fargo & Co. reaffirmed an “outperform” rating and issued a $79.00 price objective (up from $74.00) on shares of Darden Restaurants in a research report on Monday, June 27th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Darden Restaurants in a research report on Tuesday, June 28th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $70.00 price objective on shares of Darden Restaurants in a research report on Tuesday, June 28th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. Darden Restaurants has a consensus rating of “Hold” and an average price target of $70.26.
In other Darden Restaurants news, Director James P. Fogarty bought 3,000 shares of the business’s stock in a transaction that occurred on Thursday, July 7th. The shares were bought at an average cost of $61.70 per share, with a total value of $185,100.00. Following the completion of the purchase, the director now directly owns 7,890 shares of the company’s stock, valued at $486,813. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.69% of the stock is owned by corporate insiders.
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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