LSV Asset Management Has $23.74 Million Holdings in Darden Restaurants, Inc. (DRI)

LSV Asset Management reduced its position in Darden Restaurants, Inc. (NYSE:DRI) by 65.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 262,500 shares of the restaurant operator’s stock after selling 489,000 shares during the period. LSV Asset Management owned approximately 0.21% of Darden Restaurants worth $23,740,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DRI. BlackRock Inc. boosted its position in Darden Restaurants by 4,601.4% in the 1st quarter. BlackRock Inc. now owns 11,464,253 shares of the restaurant operator’s stock valued at $959,215,000 after buying an additional 11,220,403 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in Darden Restaurants by 66.8% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,275,399 shares of the restaurant operator’s stock valued at $115,348,000 after buying an additional 510,969 shares during the last quarter. Vanguard Group Inc. boosted its position in Darden Restaurants by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 14,211,162 shares of the restaurant operator’s stock valued at $1,189,048,000 after buying an additional 487,366 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position 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 buying an additional 443,669 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in Darden Restaurants by 982.1% in the 1st quarter. Cornerstone Capital Management Holdings LLC. now owns 449,559 shares of the restaurant operator’s stock valued at $37,613,000 after buying an additional 408,013 shares during the last quarter. 88.76% of the stock is owned by institutional investors.

DRI has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Darden Restaurants from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Raymond James Financial, Inc. restated a “market perform” rating on shares of Darden Restaurants in a research note on Monday, July 24th. Zacks Investment Research lowered shares of Darden Restaurants from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, Bank of America Corporation upped their target price on shares of Darden Restaurants from $80.00 to $85.00 and gave the company an “underperform” rating in a research note on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $85.18.

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Darden Restaurants, Inc. (DRI) opened at 79.74 on Tuesday. The firm has a 50-day moving average of $83.13 and a 200 day moving average of $84.51. The company has a market cap of $10.00 billion, a PE ratio of 20.97 and a beta of 0.27. Darden Restaurants, Inc. has a 52-week low of $60.16 and a 52-week high of $95.22.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the firm posted $1.10 EPS. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts expect that Darden Restaurants, Inc. will post $4.47 earnings per share for the current fiscal year.

In related news, insider Eugene I. Lee, Jr. sold 93,125 shares of Darden Restaurants stock in a transaction dated 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 completion of the transaction, the insider now directly owns 165,062 shares of the company’s stock, valued at approximately $15,116,377.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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).

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

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