Regentatlantic Capital LLC reduced its position in Darden Restaurants, Inc. (NYSE:DRI) by 7.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 14,905 shares of the restaurant operator’s stock after selling 1,205 shares during the period. Regentatlantic Capital LLC’s holdings in Darden Restaurants were worth $1,348,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. First Midwest Bank Trust Division boosted its stake in shares of Darden Restaurants by 77.0% in the second quarter. First Midwest Bank Trust Division now owns 42,047 shares of the restaurant operator’s stock worth $3,803,000 after buying an additional 18,296 shares during the last quarter. Breton Hill Capital Ltd. boosted its stake in shares of Darden Restaurants by 36.4% in the second quarter. Breton Hill Capital Ltd. now owns 10,867 shares of the restaurant operator’s stock worth $983,000 after buying an additional 2,900 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH boosted its stake in shares of Darden Restaurants by 44.1% in the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 32,100 shares of the restaurant operator’s stock worth $1,725,000 after buying an additional 9,818 shares during the last quarter. Huntington National Bank boosted its stake in shares of Darden Restaurants by 4.6% in the second quarter. Huntington National Bank now owns 1,578 shares of the restaurant operator’s stock worth $143,000 after buying an additional 70 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. boosted its stake in shares of Darden Restaurants by 255.5% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,422 shares of the restaurant operator’s stock worth $129,000 after buying an additional 1,022 shares during the last quarter. Institutional investors and hedge funds own 96.62% of the company’s stock.

Shares of Darden Restaurants, Inc. (NYSE DRI) opened at 84.49 on Friday. The company has a market cap of $10.60 billion, a price-to-earnings ratio of 22.22 and a beta of 0.28. The stock has a 50 day moving average of $89.57 and a 200 day moving average of $82.43. Darden Restaurants, Inc. has a 12-month low of $59.93 and a 12-month high of $95.22.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Tuesday, June 27th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.15 by $0.03. The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.86 billion. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.10 EPS. On average, equities analysts expect that Darden Restaurants, Inc. will post $4.47 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, July 6th. This is an increase from Darden Restaurants’s previous quarterly dividend of $0.56. Darden Restaurants’s dividend payout ratio is 66.14%.

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A number of brokerages have recently weighed in on DRI. Raymond James Financial, Inc. restated a “market perform” rating on shares of Darden Restaurants in a research note on Monday. BidaskClub cut shares of Darden Restaurants from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Zacks Investment Research cut shares of Darden Restaurants from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Bank of America Corporation upped their target price on shares of Darden Restaurants from $80.00 to $85.00 and gave the company an “underperform” rating in a research note on Friday, June 30th. Finally, BMO Capital Markets upped their target price on shares of Darden Restaurants from $85.00 to $87.00 and gave the company a “market perform” rating in a research note on Friday, June 30th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned 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 on Thursday, June 29th. The stock was sold at an average price of $91.58, for a total value of $8,528,387.50. Following the completion of the transaction, the insider now owns 165,062 shares in the company, valued at approximately $15,116,377.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.68% of the stock is owned by corporate 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).

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

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