Martingale Asset Management L P lessened its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 2.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 511,276 shares of the restaurant operator’s stock after selling 12,103 shares during the quarter. Darden Restaurants comprises approximately 0.7% of Martingale Asset Management L P’s portfolio, making the stock its 18th biggest position. Martingale Asset Management L P owned about 0.41% of Darden Restaurants worth $46,241,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in DRI. Farmers & Merchants Investments Inc. raised its stake in shares of Darden Restaurants by 255.5% during the second quarter. Farmers & Merchants Investments Inc. now owns 1,422 shares of the restaurant operator’s stock worth $129,000 after purchasing an additional 1,022 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Darden Restaurants by 4.6% during the first quarter. Van ECK Associates Corp now owns 1,625 shares of the restaurant operator’s stock worth $136,000 after purchasing an additional 71 shares during the last quarter. Huntington National Bank raised its stake in shares of Darden Restaurants by 4.6% during the second quarter. Huntington National Bank now owns 1,578 shares of the restaurant operator’s stock worth $143,000 after purchasing an additional 70 shares during the last quarter. Ledyard National Bank raised its stake in shares of Darden Restaurants by 4.9% during the second quarter. Ledyard National Bank now owns 1,718 shares of the restaurant operator’s stock worth $155,000 after purchasing an additional 80 shares during the last quarter. Finally, MEMBERS Trust Co purchased a new stake in shares of Darden Restaurants during the first quarter worth approximately $201,000. Institutional investors and hedge funds own 88.76% of the company’s stock.

Several equities research analysts have recently commented on the company. Jefferies Group LLC upped their price target on Darden Restaurants from $80.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $87.00 price target (up previously from $81.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. Stephens restated an “equal weight” rating and set a $85.00 price target on shares of Darden Restaurants in a research note on Wednesday, June 28th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $100.00 price target (up previously from $85.00) on shares of Darden Restaurants in a research note on Wednesday, June 28th. Finally, Royal Bank Of Canada upped their price target on Darden Restaurants from $86.00 to $96.00 and gave the stock a “sector perform” rating 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 given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $85.18.

In other news, insider Eugene I. Lee, Jr. sold 93,125 shares of the business’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 sale, the insider now owns 165,062 shares of the company’s stock, valued at approximately $15,116,377.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.63% of the stock is currently owned by insiders.

Darden Restaurants, Inc. (NYSE:DRI) traded up 1.95% during mid-day trading on Friday, reaching $78.55. The company’s stock had a trading volume of 2,261,639 shares. The firm has a 50 day moving average price of $83.29 and a 200-day moving average price of $84.32. Darden Restaurants, Inc. has a 1-year low of $60.16 and a 1-year high of $95.22. The company has a market capitalization of $9.85 billion, a PE ratio of 20.65 and a beta of 0.27.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Tuesday, June 27th. The restaurant operator reported $1.18 EPS for the quarter, topping 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 company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the business earned $1.10 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts predict that Darden Restaurants, Inc. will post $4.47 EPS for the current fiscal year.

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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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