Alps Advisors Inc. Grows Position in Darden Restaurants, Inc. (DRI)

Alps Advisors Inc. lifted its stake in Darden Restaurants, Inc. (NYSE:DRI) by 16.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,553 shares of the restaurant operator’s stock after buying an additional 1,505 shares during the period. Alps Advisors Inc.’s holdings in Darden Restaurants were worth $831,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in shares of Darden Restaurants by 2.7% in the second quarter. BlackRock Inc. now owns 11,779,249 shares of the restaurant operator’s stock valued at $1,065,316,000 after buying an additional 314,996 shares during the period. State Street Corp lifted its stake in shares of Darden Restaurants by 0.3% in the second quarter. State Street Corp now owns 5,479,782 shares of the restaurant operator’s stock valued at $495,583,000 after buying an additional 14,883 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Darden Restaurants by 0.5% in the second quarter. Wells Fargo & Company MN now owns 3,244,502 shares of the restaurant operator’s stock valued at $293,433,000 after buying an additional 15,194 shares during the period. APG Asset Management N.V. lifted its stake in shares of Darden Restaurants by 34.4% in the third quarter. APG Asset Management N.V. now owns 2,361,712 shares of the restaurant operator’s stock valued at $186,056,000 after buying an additional 604,364 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in Darden Restaurants by 3.7% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,322,512 shares of the restaurant operator’s stock worth $104,184,000 after purchasing an additional 47,113 shares during the period. Institutional investors and hedge funds own 88.32% of the company’s stock.

Darden Restaurants, Inc. (NYSE DRI) opened at $82.84 on Tuesday. The firm has a market cap of $10,220.36, a price-to-earnings ratio of 20.01, a PEG ratio of 1.81 and a beta of 0.22. Darden Restaurants, Inc. has a 52-week low of $70.34 and a 52-week high of $95.22. 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 (NYSE:DRI) last announced its quarterly earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.99. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Darden Restaurants had a net margin of 6.60% and a return on equity of 26.06%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the firm posted $0.88 earnings per share. research analysts anticipate that Darden Restaurants, Inc. will post 4.43 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Friday, October 6th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.04%. Darden Restaurants’s dividend payout ratio is 65.12%.

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A number of research analysts have commented on the stock. Canaccord Genuity restated a “buy” rating and set a $97.00 price target on shares of Darden Restaurants in a research note on Wednesday, September 27th. Morgan Stanley restated an “equal weight” rating and set a $88.00 price target (down previously from $93.00) on shares of Darden Restaurants in a research note on Wednesday, September 27th. BMO Capital Markets restated a “market perform” rating and set a $85.00 price target (down previously from $87.00) on shares of Darden Restaurants in a research note on Wednesday, September 27th. Wells Fargo & Company cut their price target on shares of Darden Restaurants from $90.00 to $84.00 and set a “market perform” rating for the company in a research note on Wednesday, September 27th. Finally, Zacks Investment Research upgraded shares of Darden Restaurants from a “sell” rating to a “hold” rating in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $87.59.

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).

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

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