Cetera Investment Advisers Acquires Shares of 3,859 Darden Restaurants, Inc. (DRI)

Cetera Investment Advisers acquired a new stake in Darden Restaurants, Inc. (NYSE:DRI) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,859 shares of the restaurant operator’s stock, valued at approximately $349,000.

A number of other large investors have also recently made changes to their positions in DRI. Janus Henderson Group PLC increased its stake in Darden Restaurants by 3,640.4% in the second quarter. Janus Henderson Group PLC now owns 737,685 shares of the restaurant operator’s stock valued at $66,717,000 after acquiring an additional 717,963 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in Darden Restaurants by 66.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,275,399 shares of the restaurant operator’s stock valued at $115,348,000 after acquiring an additional 510,969 shares during the last quarter. BlackRock Inc. increased its stake in 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 during the last quarter. Balyasny Asset Management LLC increased its stake in Darden Restaurants by 281.8% in the second quarter. Balyasny Asset Management LLC now owns 181,814 shares of the restaurant operator’s stock valued at $16,443,000 after acquiring an additional 281,814 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Darden Restaurants by 28.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,018,246 shares of the restaurant operator’s stock valued at $92,091,000 after acquiring an additional 225,165 shares during the last quarter. 89.56% of the stock is currently owned by institutional investors and hedge funds.

DRI has been the topic of a number of recent analyst reports. Oppenheimer Holdings, Inc. lifted their price objective on shares of Darden Restaurants in a research note on Monday, June 26th. Bank of America Corporation set a $80.00 price objective on shares of Darden Restaurants and gave the company a “buy” rating in a research note on Monday, June 26th. Zacks Investment Research raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research note on Tuesday, July 11th. BidaskClub cut shares of Darden Restaurants from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Finally, ValuEngine upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $87.59.

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Shares of Darden Restaurants, Inc. (NYSE:DRI) opened at 82.77 on Friday. The company has a market capitalization of $10.24 billion, a P/E ratio of 21.43 and a beta of 0.24. Darden Restaurants, Inc. has a 52-week low of $60.97 and a 52-week high of $95.22. The stock’s 50 day moving average is $80.82 and its 200 day moving average is $85.25.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.99. Darden Restaurants had a net margin of 6.60% and a return on equity of 26.06%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period last year, the company posted $0.88 EPS. Darden Restaurants’s revenue was up 12.9% on a year-over-year basis. Equities analysts expect that Darden Restaurants, Inc. will post $4.44 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be given a dividend of $0.63 per share. The ex-dividend date is Friday, October 6th. This represents a $2.52 dividend on an annualized basis and a yield of 3.04%. Darden Restaurants’s dividend payout ratio (DPR) is currently 65.12%.

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).

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

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