Oregon Public Employees Retirement Fund increased its position in Darden Restaurants, Inc. (NYSE:DRI) by 320.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,442 shares of the restaurant operator’s stock after buying an additional 41,500 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Darden Restaurants were worth $4,924,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DRI. BlackRock Inc. raised its position in shares of Darden Restaurants by 4,601.4% in the first quarter. BlackRock Inc. now owns 11,464,253 shares of the restaurant operator’s stock worth $959,215,000 after buying an additional 11,220,403 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Darden Restaurants by 38.3% in the first quarter. Wells Fargo & Company MN now owns 3,229,308 shares of the restaurant operator’s stock worth $270,196,000 after buying an additional 894,403 shares in the last quarter. American Century Companies Inc. raised its position in shares of Darden Restaurants by 42.3% in the first quarter. American Century Companies Inc. now owns 2,076,378 shares of the restaurant operator’s stock worth $173,731,000 after buying an additional 617,269 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Darden Restaurants by 3.6% in the first quarter. Vanguard Group Inc. now owns 14,211,162 shares of the restaurant operator’s stock worth $1,189,048,000 after buying an additional 487,366 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its position 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 worth $104,598,000 after buying an additional 443,669 shares in the last quarter. Hedge funds and other institutional investors own 96.55% of the company’s stock.

Darden Restaurants, Inc. (NYSE DRI) opened at 88.68 on Friday. The stock has a market cap of $11.09 billion, a P/E ratio of 23.32 and a beta of 0.28. The company has a 50-day moving average of $90.28 and a 200 day moving average of $81.99. Darden Restaurants, Inc. has a 1-year low of $59.50 and a 1-year high of $95.22.

Darden Restaurants (NYSE:DRI) last posted its earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.03. Darden Restaurants had a net margin of 6.68% and a return on equity of 26.18%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. Darden Restaurants’s revenue for the quarter was up 8.1% compared to the same quarter last year. Analysts predict that Darden Restaurants, Inc. will post $4.47 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $2.52 dividend on an annualized basis and a yield of 2.84%. This is a boost from Darden Restaurants’s previous quarterly dividend of $0.56. Darden Restaurants’s dividend payout ratio is presently 66.14%.

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A number of equities analysts recently weighed in on DRI shares. Oppenheimer Holdings, Inc. upped their target price on shares of Darden Restaurants in a research report on Monday, June 26th. Bank of America Corporation set a $80.00 target price on shares of Darden Restaurants and gave the stock a “buy” rating in a research report on Monday, June 26th. Canaccord Genuity restated a “buy” rating and set a $102.00 target price on shares of Darden Restaurants in a research report on Friday, June 9th. Credit Suisse Group AG restated a “hold” rating and set a $74.00 target price on shares of Darden Restaurants in a research report on Wednesday, March 29th. Finally, Zacks Investment Research lowered shares of Darden Restaurants from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $84.78.

In other Darden Restaurants news, insider Eugene I. Lee, Jr. sold 93,125 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $91.58, for a total value of $8,528,387.50. Following the transaction, the insider now owns 165,062 shares of the company’s stock, valued at $15,116,377.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.68% of the company’s stock.

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).

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

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