Darden Restaurants, Inc. (DRI) Position Cut by AMP Capital Investors Ltd

AMP Capital Investors Ltd cut its stake in Darden Restaurants, Inc. (NYSE:DRI) by 10.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,653 shares of the restaurant operator’s stock after selling 9,100 shares during the period. AMP Capital Investors Ltd owned 0.06% of Darden Restaurants worth $6,117,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Bruderman Asset Management LLC raised its holdings in Darden Restaurants by 0.4% in the second quarter. Bruderman Asset Management LLC now owns 2,532 shares of the restaurant operator’s stock valued at $229,000 after acquiring an additional 10 shares in the last quarter. Wedbush Securities Inc. raised its holdings in Darden Restaurants by 0.5% in the second quarter. Wedbush Securities Inc. now owns 3,195 shares of the restaurant operator’s stock valued at $289,000 after acquiring an additional 15 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Darden Restaurants by 1.7% in the second quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock valued at $114,000 after acquiring an additional 21 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Darden Restaurants by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,238 shares of the restaurant operator’s stock valued at $835,000 after acquiring an additional 28 shares in the last quarter. Finally, Peddock Capital Advisors LLC raised its holdings in Darden Restaurants by 0.7% in the second quarter. Peddock Capital Advisors LLC now owns 9,524 shares of the restaurant operator’s stock valued at $861,000 after acquiring an additional 65 shares in the last quarter. 91.94% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the stock. Royal Bank of Canada cut their price target on shares of Darden Restaurants from $96.00 to $90.00 and set a “sector perform” rating on the stock in a report on Wednesday, September 27th. Oppenheimer reaffirmed a “buy” rating and issued a $100.00 price target on shares of Darden Restaurants in a report on Wednesday, September 20th. BMO Capital Markets set a $80.00 target price on shares of Darden Restaurants and gave the stock a “hold” rating in a report on Thursday, October 19th. Jefferies Group reissued a “hold” rating and set a $82.00 target price (down from $90.00) on shares of Darden Restaurants in a report on Wednesday, September 27th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $88.00 target price (down from $93.00) on shares of Darden Restaurants in a report on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $88.91.

Darden Restaurants, Inc. (NYSE:DRI) opened at $86.96 on Friday. The company has a market cap of $10,833.78, a PE ratio of 21.21, a PEG ratio of 1.92 and a beta of 0.22. The company has a current ratio of 0.38, a quick ratio of 0.24 and a debt-to-equity ratio of 0.45. Darden Restaurants, Inc. has a 12-month low of $71.01 and a 12-month high of $95.22.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 EPS for the quarter, hitting the consensus estimate of $0.99. The business 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 quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. research analysts expect that Darden Restaurants, Inc. will post 4.44 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.90%. Darden Restaurants’s dividend payout ratio is currently 65.12%.

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

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