Vident Investment Advisory LLC lessened its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 75.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,748 shares of the restaurant operator’s stock after selling 26,257 shares during the period. Vident Investment Advisory LLC’s holdings in Darden Restaurants were worth $689,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. State of Tennessee Treasury Department lifted its stake in shares of Darden Restaurants by 162.3% during the second quarter. State of Tennessee Treasury Department now owns 121,896 shares of the restaurant operator’s stock valued at $11,025,000 after acquiring an additional 75,421 shares during the period. Chicago Equity Partners LLC lifted its stake in shares of Darden Restaurants by 589.5% during the second quarter. Chicago Equity Partners LLC now owns 41,230 shares of the restaurant operator’s stock valued at $3,729,000 after acquiring an additional 35,250 shares during the period. Wedbush Securities Inc. lifted its stake in shares of Darden Restaurants by 0.5% during 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 during the period. Toronto Dominion Bank lifted its stake in shares of Darden Restaurants by 26.0% during the second quarter. Toronto Dominion Bank now owns 42,119 shares of the restaurant operator’s stock valued at $3,808,000 after acquiring an additional 8,694 shares during the period. Finally, Eastern Bank acquired a new position in shares of Darden Restaurants during the third quarter valued at $2,327,000. Institutional investors own 91.94% of the company’s stock.
Shares of Darden Restaurants, Inc. (NYSE:DRI) opened at $88.41 on Friday. The company has a quick ratio of 0.24, a current ratio of 0.38 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $10,754.63, a PE ratio of 21.06, a price-to-earnings-growth ratio of 1.90 and a beta of 0.22. Darden Restaurants, Inc. has a fifty-two week low of $71.01 and a fifty-two week high of $95.22.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.85%. Darden Restaurants’s payout ratio is presently 65.12%.
Several research firms have weighed in on DRI. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research note on Thursday. SunTrust Banks set a $94.00 target price on Darden Restaurants and gave the company a “hold” rating in a research note on Monday, December 11th. BMO Capital Markets set a $80.00 target price on Darden Restaurants and gave the company a “hold” rating in a research note on Thursday, October 19th. Argus lowered Darden Restaurants from a “buy” rating to a “hold” rating and set a $88.00 target price on the stock. in a research note on Tuesday, October 17th. Finally, Longbow Research began coverage on Darden Restaurants in a research note on Friday, October 13th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the stock. Darden Restaurants has a consensus rating of “Hold” and a consensus target price of $88.91.
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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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