Tyers Asset Management LLC purchased a new stake in shares of Darden Restaurants, Inc. (NYSE:DRI) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 239,764 shares of the restaurant operator’s stock, valued at approximately $17,436,000. Tyers Asset Management LLC owned about 0.19% of Darden Restaurants as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of DRI. State Street Corp increased its position in shares of Darden Restaurants by 7.7% in the fourth quarter. State Street Corp now owns 5,647,691 shares of the restaurant operator’s stock valued at $410,705,000 after buying an additional 401,486 shares during the last quarter. BlackRock Fund Advisors increased its stake in Darden Restaurants by 5.1% in the third quarter. BlackRock Fund Advisors now owns 4,882,895 shares of the restaurant operator’s stock valued at $299,419,000 after buying an additional 236,071 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Darden Restaurants by 5.3% in the third quarter. Bank of New York Mellon Corp now owns 4,111,161 shares of the restaurant operator’s stock valued at $252,097,000 after buying an additional 208,345 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Darden Restaurants by 7.4% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 3,553,018 shares of the restaurant operator’s stock valued at $217,871,000 after buying an additional 245,968 shares during the last quarter. Finally, FMR LLC increased its stake in Darden Restaurants by 154.6% in the fourth quarter. FMR LLC now owns 3,186,814 shares of the restaurant operator’s stock valued at $231,745,000 after buying an additional 1,935,246 shares during the last quarter. Hedge funds and other institutional investors own 87.64% of the company’s stock.

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

Darden Restaurants, Inc. (NYSE:DRI) traded up 0.08% during mid-day trading on Thursday, reaching $75.80. The company’s stock had a trading volume of 658,407 shares. The company has a market cap of $9.41 billion, a PE ratio of 22.20 and a beta of 0.28. The firm’s 50 day moving average is $73.33 and its 200-day moving average is $68.00. Darden Restaurants, Inc. has a 12-month low of $59.50 and a 12-month high of $79.43.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Tuesday, December 20th. The restaurant operator reported $0.64 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.64. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.65 billion. Darden Restaurants had a return on equity of 25.92% and a net margin of 6.22%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share. Equities analysts anticipate that Darden Restaurants, Inc. will post $3.94 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th were issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date of this dividend was Friday, January 6th. Darden Restaurants’s dividend payout ratio is presently 65.50%.

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Several equities research analysts recently commented on the company. RBC Capital Markets reiterated a “hold” rating and issued a $80.00 price objective on shares of Darden Restaurants in a report on Friday, January 6th. Zacks Investment Research downgraded Darden Restaurants from a “buy” rating to a “hold” rating in a report on Friday, November 25th. Jefferies Group LLC reiterated a “hold” rating and issued a $72.00 price objective on shares of Darden Restaurants in a report on Wednesday, December 21st. KeyCorp reiterated a “buy” rating and issued a $80.00 price objective on shares of Darden Restaurants in a report on Monday, February 6th. Finally, BTIG Research lifted their price objective on Darden Restaurants from $75.00 to $85.00 and gave the stock a “positive” rating in a report on Wednesday, December 21st. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $74.52.

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).

5 Day Chart for NYSE:DRI

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