Teacher Retirement System of Texas cut its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 82.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,056 shares of the restaurant operator’s stock after selling 57,934 shares during the period. Teacher Retirement System of Texas’ holdings in Darden Restaurants were worth $950,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in DRI. BlackRock Inc. grew its position in Darden Restaurants by 2.7% in the second quarter. BlackRock Inc. now owns 11,779,249 shares of the restaurant operator’s stock worth $1,065,316,000 after acquiring an additional 314,996 shares in the last quarter. State Street Corp grew its position in Darden Restaurants by 0.3% in the second quarter. State Street Corp now owns 5,479,782 shares of the restaurant operator’s stock worth $495,583,000 after acquiring an additional 14,883 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Darden Restaurants by 0.5% during the 2nd quarter. Wells Fargo & Company MN now owns 3,244,502 shares of the restaurant operator’s stock worth $293,433,000 after buying an additional 15,194 shares during the period. APG Asset Management N.V. boosted its holdings in shares of Darden Restaurants by 34.4% during the 3rd quarter. APG Asset Management N.V. now owns 2,361,712 shares of the restaurant operator’s stock worth $186,056,000 after buying an additional 604,364 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in shares of Darden Restaurants by 3.7% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,322,512 shares of the restaurant operator’s stock worth $104,184,000 after buying an additional 47,113 shares during the period. Institutional investors and hedge funds own 91.94% of the company’s stock.
Shares of Darden Restaurants, Inc. (DRI) traded down $0.25 during midday trading on Thursday, hitting $85.28. 1,595,456 shares of the stock traded hands, compared to its average volume of 1,600,790. Darden Restaurants, Inc. has a one year low of $71.01 and a one year high of $95.22. The company has a market cap of $10,653.22, a price-to-earnings ratio of 20.86, a PEG ratio of 1.89 and a beta of 0.22. The company has a quick ratio of 0.24, a current ratio of 0.38 and a debt-to-equity ratio of 0.45.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share for the quarter, hitting the consensus estimate of $0.99. The business had revenue of $1.94 billion for 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%. Darden Restaurants’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 EPS. equities research analysts expect that Darden Restaurants, Inc. will post 4.43 EPS for the current year.
DRI has been the subject of several recent analyst reports. Canaccord Genuity reaffirmed a “buy” rating and set a $97.00 price objective on shares of Darden Restaurants in a report on Wednesday, September 27th. Maxim Group raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and increased their price target for the company from $90.00 to $93.00 in a report on Wednesday, September 27th. ValuEngine raised shares of Darden Restaurants from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Oppenheimer reissued a “buy” rating and issued a $100.00 price target on shares of Darden Restaurants in a report on Wednesday, September 20th. Finally, Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a research note on Friday, September 22nd. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the company’s stock. Darden Restaurants has an average rating of “Hold” and a consensus price target of $87.59.
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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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