Darden Restaurants, Inc. (DRI) Stake Boosted by Piedmont Investment Advisors LLC

Piedmont Investment Advisors LLC increased its holdings in Darden Restaurants, Inc. (NYSE:DRI) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,416 shares of the restaurant operator’s stock after acquiring an additional 2,362 shares during the period. Piedmont Investment Advisors LLC owned about 0.06% of Darden Restaurants worth $5,390,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings 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 acquiring an additional 314,996 shares in the last quarter. State Street Corp grew its holdings in Darden Restaurants by 0.3% during the second quarter. State Street Corp now owns 5,479,782 shares of the restaurant operator’s stock valued at $495,583,000 after purchasing an additional 14,883 shares during the period. Wells Fargo & Company MN grew its holdings in Darden Restaurants by 2.2% during the third quarter. Wells Fargo & Company MN now owns 3,317,326 shares of the restaurant operator’s stock valued at $261,339,000 after purchasing an additional 72,824 shares during the period. APG Asset Management N.V. grew its holdings in Darden Restaurants by 34.4% during 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 purchasing an additional 604,364 shares during the period. Finally, HS Management Partners LLC bought a new position in Darden Restaurants during the third quarter valued at $157,044,000. 91.94% of the stock is owned by institutional investors.

Shares of Darden Restaurants, Inc. (DRI) opened at $87.60 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.38 and a quick ratio of 0.24. Darden Restaurants, Inc. has a 12-month low of $71.01 and a 12-month high of $95.22. The stock has a market capitalization of $10,776.89, a price-to-earnings ratio of 21.10, a P/E/G ratio of 1.91 and a beta of 0.22.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.99. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter last year, the business posted $0.88 earnings per share. The firm’s revenue was up 12.9% compared to the same quarter last year. analysts expect that Darden Restaurants, Inc. will post 4.43 EPS for the current fiscal year.

Several equities analysts have weighed in on DRI shares. ValuEngine raised Darden Restaurants from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Longbow Research started coverage on Darden Restaurants in a report on Friday, October 13th. They set a “neutral” rating for the company. Maxim Group reissued a “hold” rating and set a $90.00 price objective on shares of Darden Restaurants in a report on Thursday, September 21st. Zacks Investment Research raised Darden Restaurants from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Finally, Wells Fargo & Company reduced their price objective on Darden Restaurants from $90.00 to $84.00 and set a “market perform” rating for the company in a report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the company’s stock. Darden Restaurants currently has a consensus rating of “Hold” and a consensus target price of $88.73.

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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).

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

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