Darden Restaurants, Inc. (DRI) Position Increased by Stevens Capital Management LP

Stevens Capital Management LP lifted its position in Darden Restaurants, Inc. (NYSE:DRI) by 137.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,742 shares of the restaurant operator’s stock after buying an additional 28,769 shares during the period. Stevens Capital Management LP’s holdings in Darden Restaurants were worth $4,499,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Honkamp Krueger Financial Services Inc. increased its position in shares of Darden Restaurants by 0.3% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 2,788 shares of the restaurant operator’s stock valued at $252,000 after buying an additional 9 shares in the last quarter. Bruderman Asset Management LLC boosted its stake in Darden Restaurants by 0.4% in the 2nd quarter. Bruderman Asset Management LLC now owns 2,532 shares of the restaurant operator’s stock worth $229,000 after purchasing an additional 10 shares during the period. Wedbush Securities Inc. boosted its stake in Darden Restaurants by 0.5% in the 2nd quarter. Wedbush Securities Inc. now owns 3,195 shares of the restaurant operator’s stock worth $289,000 after purchasing an additional 15 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Darden Restaurants by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,238 shares of the restaurant operator’s stock worth $835,000 after purchasing an additional 28 shares during the period. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its stake in Darden Restaurants by 0.3% in the 2nd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 9,630 shares of the restaurant operator’s stock worth $871,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 88.65% of the company’s stock.

In related news, insider Eugene I. Lee, Jr. sold 93,125 shares of the business’s 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 transaction, the insider now directly owns 165,062 shares in the company, valued at $15,116,377.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is currently owned by insiders.

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A number of brokerages recently weighed in on DRI. Robert W. Baird reaffirmed a “neutral” rating and issued a $94.00 target price (up from $90.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. Royal Bank Of Canada upped their target price on shares of Darden Restaurants from $86.00 to $96.00 and gave the stock a “sector perform” rating in a research note on Wednesday, June 28th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $100.00 target price (up from $85.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $93.00 target price (up from $82.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $87.00 target price (up from $81.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $85.18.

Shares of Darden Restaurants, Inc. (DRI) opened at 84.04 on Tuesday. The company has a 50-day moving average of $82.71 and a 200 day moving average of $84.77. Darden Restaurants, Inc. has a 52 week low of $60.16 and a 52 week high of $95.22. The firm has a market capitalization of $10.54 billion, a P/E ratio of 22.10 and a beta of 0.27. Darden Restaurants also was the target of unusually large options trading activity on Monday. Stock traders acquired 25,604 call options on the stock. This represents an increase of 1,415% compared to the typical daily volume of 1,690 call options.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 earnings per share for the quarter, topping 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 business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Darden Restaurants, Inc. will post $4.47 earnings per share for the current year.

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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