Nationwide Fund Advisors lessened its position in Darden Restaurants, Inc. (NYSE:DRI) by 13.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,189 shares of the restaurant operator’s stock after selling 11,680 shares during the period. Nationwide Fund Advisors owned approximately 0.06% of Darden Restaurants worth $6,160,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in DRI. M&R Capital Management Inc. acquired a new position in Darden Restaurants during the 2nd quarter valued at about $108,000. D.A. Davidson & CO. increased its stake in Darden Restaurants by 1.7% during the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock valued at $114,000 after buying an additional 21 shares during the period. First National Trust Co. acquired a new position in Darden Restaurants during the 2nd quarter valued at about $217,000. Bruderman Asset Management LLC increased its stake in Darden Restaurants by 0.4% during the 2nd quarter. Bruderman Asset Management LLC now owns 2,532 shares of the restaurant operator’s stock valued at $229,000 after buying an additional 10 shares during the period. Finally, Zacks Investment Management acquired a new position in Darden Restaurants during the 2nd quarter valued at about $281,000. 91.94% of the stock is currently owned by institutional investors and hedge funds.

Darden Restaurants, Inc. (NYSE DRI) traded up $0.59 during trading hours on Wednesday, hitting $87.14. 1,803,500 shares of the stock were exchanged, compared to its average volume of 1,603,515. Darden Restaurants, Inc. has a 12 month low of $71.01 and a 12 month high of $95.22. The company has a market capitalization of $10,703.92, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 1.90 and a beta of 0.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.24 and a current ratio of 0.38.

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

Several equities analysts have commented on the stock. Royal Bank of Canada lowered their target price on shares of Darden Restaurants from $96.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 27th. Oppenheimer reissued a “buy” rating and set a $100.00 target price on shares of Darden Restaurants in a research note on Wednesday, September 20th. BMO Capital Markets set a $80.00 price objective on shares of Darden Restaurants and gave the company a “hold” rating in a research report on Thursday, October 19th. Jefferies Group restated a “hold” rating and set a $82.00 price objective (down previously from $90.00) on shares of Darden Restaurants in a research report on Wednesday, September 27th. Finally, Morgan Stanley restated an “equal weight” rating and set a $88.00 price objective (down previously from $93.00) on shares of Darden Restaurants in a research report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $88.73.

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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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