Principal Financial Group Inc. cut its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 7.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,931 shares of the restaurant operator’s stock after selling 16,829 shares during the quarter. Principal Financial Group Inc. owned approximately 0.18% of Darden Restaurants worth $17,640,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of DRI. BlackRock Inc. increased 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 worth $1,065,316,000 after purchasing an additional 314,996 shares during the last quarter. State Street Corp increased its holdings in shares of Darden Restaurants by 0.3% in the second quarter. State Street Corp now owns 5,479,782 shares of the restaurant operator’s stock worth $495,583,000 after purchasing an additional 14,883 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Darden Restaurants by 0.5% in the second quarter. Wells Fargo & Company MN now owns 3,244,502 shares of the restaurant operator’s stock worth $293,433,000 after purchasing an additional 15,194 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Darden Restaurants by 34.4% in the third quarter. APG Asset Management N.V. now owns 2,361,712 shares of the restaurant operator’s stock worth $186,056,000 after purchasing an additional 604,364 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of Darden Restaurants by 3.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,322,512 shares of the restaurant operator’s stock worth $104,184,000 after purchasing an additional 47,113 shares during the last quarter. 90.36% of the stock is currently owned by institutional investors and hedge funds.

Shares of Darden Restaurants, Inc. (NYSE:DRI) opened at $80.24 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.24 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $9,923.52, a price-to-earnings ratio of 19.43, a price-to-earnings-growth ratio of 1.76 and a beta of 0.22. Darden Restaurants, Inc. has a twelve month low of $71.01 and a twelve month high of $95.22.

Darden Restaurants (NYSE:DRI) last posted its earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.99. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.93 billion. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. Darden Restaurants’s revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. equities analysts forecast that Darden Restaurants, Inc. will post 4.43 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a dividend of $0.63 per share. The ex-dividend date was Friday, October 6th. This represents a $2.52 dividend on an annualized basis and a yield of 3.14%. Darden Restaurants’s dividend payout ratio is currently 65.12%.

Several brokerages have recently issued reports on DRI. BidaskClub raised Darden Restaurants from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $100.00 price objective on shares of Darden Restaurants in a research note on Wednesday, September 20th. Stephens reissued an “equal weight” rating and set a $95.00 price objective on shares of Darden Restaurants in a research note on Tuesday, September 26th. Jefferies Group LLC reissued a “hold” rating and set a $82.00 price objective (down from $90.00) on shares of Darden Restaurants in a research note on Wednesday, September 27th. Finally, Maxim Group raised Darden Restaurants from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $93.00 in a research note on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $87.59.

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

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