Optimum Investment Advisors Sells 350 Shares of Darden Restaurants, Inc. (DRI)
Optimum Investment Advisors cut its holdings in shares of Darden Restaurants, Inc. (NYSE:DRI) by 4.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,475 shares of the restaurant operator’s stock after selling 350 shares during the period. Optimum Investment Advisors’ holdings in Darden Restaurants were worth $676,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of the business. UBS Asset Management Americas Inc. boosted its stake in shares of Darden Restaurants by 55.0% in the first quarter. UBS Asset Management Americas Inc. now owns 1,250,125 shares of the restaurant operator’s stock valued at $104,598,000 after purchasing an additional 443,669 shares during the period. Sei Investments Co. grew its holdings in shares of Darden Restaurants by 241.6% in the first quarter. Sei Investments Co. now owns 11,992 shares of the restaurant operator’s stock valued at $1,004,000 after purchasing an additional 8,481 shares in the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Darden Restaurants by 5.0% in the first quarter. Mutual of America Capital Management LLC now owns 16,118 shares of the restaurant operator’s stock valued at $1,349,000 after purchasing an additional 774 shares in the last quarter. Mason Street Advisors LLC grew its holdings in shares of Darden Restaurants by 1.9% in the first quarter. Mason Street Advisors LLC now owns 17,159 shares of the restaurant operator’s stock valued at $1,436,000 after purchasing an additional 322 shares in the last quarter. Finally, Pacer Advisors Inc. grew its holdings in shares of Darden Restaurants by 44.3% in the first quarter. Pacer Advisors Inc. now owns 3,379 shares of the restaurant operator’s stock valued at $283,000 after purchasing an additional 1,038 shares in the last quarter. Institutional investors own 88.65% of the company’s stock.
Several brokerages have commented on DRI. ValuEngine raised shares of Darden Restaurants from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Bank of America Corporation set a $80.00 price target on shares of Darden Restaurants and gave the stock a “buy” rating in a research note on Monday, June 26th. Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of Darden Restaurants in a research report on Monday, July 24th. Oppenheimer Holdings, Inc. upped their price objective on Darden Restaurants in a research report on Monday, June 26th. Finally, Zacks Investment Research upgraded 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. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $85.09.
Shares of Darden Restaurants, Inc. (NYSE DRI) traded down 0.11% during midday trading on Monday, reaching $78.69. The company’s stock had a trading volume of 569,596 shares. The company’s 50-day moving average price is $82.69 and its 200 day moving average price is $84.83. The firm has a market capitalization of $9.85 billion, a PE ratio of 20.38 and a beta of 0.25. Darden Restaurants, Inc. has a 1-year low of $60.16 and a 1-year high of $95.22.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.99. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 EPS. On average, equities research analysts forecast that Darden Restaurants, Inc. will post $4.45 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend is Friday, October 6th. Darden Restaurants’s dividend payout ratio (DPR) is presently 65.12%.
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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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