Darden Restaurants Inc. (DRI) Stake Raised by Nomura Holdings Inc.
Nomura Holdings Inc. boosted its stake in shares of Darden Restaurants Inc. (NYSE:DRI) by 19.4% during the second quarter, Holdings Channel reports. The institutional investor owned 4,200 shares of the restaurant operator’s stock after buying an additional 683 shares during the period. Nomura Holdings Inc.’s holdings in Darden Restaurants were worth $267,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of DRI. Mason Street Advisors LLC purchased a new stake in shares of Darden Restaurants during the second quarter valued at approximately $973,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Darden Restaurants by 73.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,262 shares of the restaurant operator’s stock valued at $206,000 after buying an additional 1,380 shares in the last quarter. Beacon Trust Co. increased its stake in shares of Darden Restaurants by 15.2% in the second quarter. Beacon Trust Co. now owns 46,651 shares of the restaurant operator’s stock valued at $2,955,000 after buying an additional 6,140 shares in the last quarter. Tobam increased its stake in shares of Darden Restaurants by 138.0% in the second quarter. Tobam now owns 35,517 shares of the restaurant operator’s stock valued at $2,250,000 after buying an additional 20,591 shares in the last quarter. Finally, Farmers National Bank purchased a new stake in shares of Darden Restaurants during the second quarter valued at approximately $190,000. Institutional investors own 94.57% of the company’s stock.
Darden Restaurants Inc. (NYSE:DRI) opened at 61.32 on Friday. The firm has a market cap of $7.74 billion, a P/E ratio of 21.16 and a beta of 0.52. Darden Restaurants Inc. has a 52-week low of $53.38 and a 52-week high of $68.97. The firm’s 50-day moving average price is $62.04 and its 200-day moving average price is $63.97.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date is Wednesday, October 5th. Darden Restaurants’s payout ratio is currently 76.98%.
Several equities research analysts have recently commented on the stock. RBC Capital Markets restated a “sector perform” rating and issued a $70.00 target price on shares of Darden Restaurants in a research note on Friday. Wells Fargo & Co. reaffirmed a “market perform” rating and issued a $68.00 price target on shares of Darden Restaurants in a report on Wednesday. Morgan Stanley reaffirmed a “hold” rating and issued a $67.00 price target on shares of Darden Restaurants in a report on Tuesday. Zacks Investment Research raised Darden Restaurants from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Robert W. Baird reaffirmed a “neutral” rating on shares of Darden Restaurants in a report on Thursday, September 8th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the stock. Darden Restaurants presently has a consensus rating of “Hold” and an average price target of $70.79.
In other news, Director James P. Fogarty acquired 3,000 shares of the business’s stock in a transaction dated Thursday, July 7th. The stock was purchased at an average cost of $61.70 per share, for a total transaction of $185,100.00. Following the acquisition, the director now owns 7,890 shares of the company’s stock, valued at $486,813. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.68% of the stock is owned by insiders.
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).
Want to see what other hedge funds are holding DRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darden Restaurants Inc. (NYSE:DRI).
Receive News & Ratings for Darden Restaurants Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants Inc. and related companies with MarketBeat.com's FREE daily email newsletter.