Seaward Management Limited Partnership reduced its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 10.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,628 shares of the restaurant operator’s stock after selling 300 shares during the period. Seaward Management Limited Partnership’s holdings in Darden Restaurants were worth $237,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted 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 valued at $1,189,048,000 after buying an additional 487,366 shares in the last quarter. BlackRock Inc. boosted 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 valued at $959,215,000 after buying an additional 11,220,403 shares in the last quarter. American International Group Inc. boosted its position in shares of Darden Restaurants by 1.3% in the first quarter. American International Group Inc. now owns 6,198,698 shares of the restaurant operator’s stock valued at $518,645,000 after buying an additional 77,248 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Darden Restaurants by 3.0% in the first quarter. Ameriprise Financial Inc. now owns 3,734,166 shares of the restaurant operator’s stock valued at $312,519,000 after buying an additional 110,515 shares in the last quarter. Finally, Wells Fargo & Company MN boosted 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 valued at $270,196,000 after buying an additional 894,403 shares in the last quarter. 95.48% of the stock is currently owned by institutional investors and hedge funds.

Shares of Darden Restaurants, Inc. (NYSE DRI) opened at 81.28 on Thursday. Darden Restaurants, Inc. has a 52-week low of $60.16 and a 52-week high of $95.22. The company’s 50-day moving average is $87.70 and its 200-day moving average is $83.11. The firm has a market cap of $10.19 billion, a P/E ratio of 21.37 and a beta of 0.27.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Tuesday, June 27th. The restaurant operator reported $1.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.15 by $0.03. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business earned $1.10 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts forecast that Darden Restaurants, Inc. will post $4.47 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Investors of record on Monday, July 10th were paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.10%. This is an increase from Darden Restaurants’s previous quarterly dividend of $0.56. The ex-dividend date was Thursday, July 6th. Darden Restaurants’s dividend payout ratio (DPR) is presently 66.14%.

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DRI has been the topic of several recent research reports. J P Morgan Chase & Co reissued a “neutral” rating and issued a $93.00 price objective (up from $82.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. Canaccord Genuity reissued a “buy” rating and issued a $102.00 price objective on shares of Darden Restaurants in a research note on Friday, June 9th. BMO Capital Markets boosted their price objective 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. Morgan Stanley reissued an “equal weight” rating and issued a $86.00 price objective (up from $83.00) on shares of Darden Restaurants in a research note on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $100.00 price objective (up from $85.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $84.78.

In other Darden Restaurants news, insider Eugene I. Lee, Jr. sold 93,125 shares of Darden Restaurants stock in a transaction that occurred 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 transaction, the insider now directly owns 165,062 shares of the company’s stock, valued at approximately $15,116,377.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.68% of the stock is currently owned by company insiders.

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).

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

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