Victory Capital Management Inc. Has $9.65 Million Stake in Darden Restaurants, Inc. (DRI)
Victory Capital Management Inc. lifted its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 15.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,647 shares of the restaurant operator’s stock after purchasing an additional 13,913 shares during the period. Victory Capital Management Inc. owned 0.09% of Darden Restaurants worth $9,645,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. First National Trust Co. purchased a new stake in shares of Darden Restaurants during the second quarter worth about $217,000. Twin Capital Management Inc. boosted its holdings in shares of Darden Restaurants by 7.4% during the second quarter. Twin Capital Management Inc. now owns 108,390 shares of the restaurant operator’s stock worth $9,803,000 after purchasing an additional 7,450 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Darden Restaurants by 16.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 420,575 shares of the restaurant operator’s stock worth $38,037,000 after purchasing an additional 58,684 shares during the period. GAM Holding AG boosted its holdings in shares of Darden Restaurants by 14.8% during the second quarter. GAM Holding AG now owns 17,497 shares of the restaurant operator’s stock worth $1,582,000 after purchasing an additional 2,258 shares during the period. Finally, Cadence Capital Management LLC boosted its holdings in shares of Darden Restaurants by 1.6% during the second quarter. Cadence Capital Management LLC now owns 33,377 shares of the restaurant operator’s stock worth $3,019,000 after purchasing an additional 535 shares during the period. Institutional investors own 88.76% of the company’s stock.
In related news, insider Eugene I. Lee, Jr. sold 93,125 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $91.58, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.63% of the company’s stock.
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Shares of Darden Restaurants, Inc. (NYSE DRI) opened at 81.19 on Wednesday. The company’s 50 day moving average is $84.28 and its 200 day moving average is $84.46. Darden Restaurants, Inc. has a 12 month low of $60.16 and a 12 month high of $95.22. The company has a market cap of $10.18 billion, a P/E ratio of 21.35 and a beta of 0.27.
Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.03. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Darden Restaurants had a net margin of 6.68% and a return on equity of 26.18%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 EPS. On average, equities research analysts predict that Darden Restaurants, Inc. will post $4.47 EPS for the current fiscal year.
A number of analysts have recently weighed in on DRI shares. Bank of America Corporation set a $80.00 target price on shares of Darden Restaurants and gave the stock a “buy” rating in a report on Monday, June 26th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Darden Restaurants in a report on Monday, July 24th. Oppenheimer Holdings, Inc. increased their target price on shares of Darden Restaurants in a report on Monday, June 26th. Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a report on Tuesday, July 11th. Finally, Canaccord Genuity reiterated a “buy” rating and set a $102.00 target price on shares of Darden Restaurants in a report on Friday, June 9th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $85.18.
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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