CIBC Asset Management Inc lowered its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,217 shares of the restaurant operator’s stock after selling 821 shares during the period. CIBC Asset Management Inc’s holdings in Darden Restaurants were worth $1,653,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Advisor Partners LLC lifted its holdings in shares of Darden Restaurants by 47.8% during the 4th quarter. Advisor Partners LLC now owns 8,291 shares of the restaurant operator’s stock valued at $821,000 after purchasing an additional 2,681 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Darden Restaurants by 26.0% during the 2nd quarter. Toronto Dominion Bank now owns 42,119 shares of the restaurant operator’s stock valued at $3,808,000 after purchasing an additional 8,694 shares during the last quarter. Tredje AP fonden lifted its holdings in shares of Darden Restaurants by 11.0% during the 3rd quarter. Tredje AP fonden now owns 61,850 shares of the restaurant operator’s stock valued at $4,873,000 after purchasing an additional 6,110 shares during the last quarter. Eastern Bank purchased a new stake in shares of Darden Restaurants during the 3rd quarter valued at $2,327,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Darden Restaurants by 4.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,061,980 shares of the restaurant operator’s stock valued at $83,663,000 after purchasing an additional 43,734 shares during the last quarter. Institutional investors own 90.49% of the company’s stock.

Several analysts have recently commented on the company. SunTrust Banks reiterated a “hold” rating on shares of Darden Restaurants in a report on Thursday, December 21st. BMO Capital Markets set a $101.00 price objective on Darden Restaurants and gave the company a “hold” rating in a report on Tuesday, December 19th. Wells Fargo & Co reiterated a “market perform” rating and set a $99.00 price objective (up previously from $92.00) on shares of Darden Restaurants in a report on Tuesday, January 9th. Barclays reiterated an “overweight” rating and set a $116.00 price objective (up previously from $108.00) on shares of Darden Restaurants in a report on Tuesday, January 16th. Finally, Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a report on Monday, January 8th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $96.95.

Shares of Darden Restaurants, Inc. (NYSE:DRI) opened at $92.69 on Friday. The firm has a market capitalization of $11,620.00, a PE ratio of 23.35, a price-to-earnings-growth ratio of 1.77 and a beta of 0.16. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.20 and a current ratio of 0.34. Darden Restaurants, Inc. has a 12-month low of $73.81 and a 12-month high of $100.11.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.03. The company had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.85 billion. Darden Restaurants had a return on equity of 26.24% and a net margin of 6.46%. equities analysts anticipate that Darden Restaurants, Inc. will post 4.76 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Tuesday, January 9th. Darden Restaurants’s dividend payout ratio is currently 63.48%.

In other Darden Restaurants news, CFO Ricardo Cardenas sold 10,783 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $97.17, for a total transaction of $1,047,784.11. Following the sale, the chief financial officer now directly owns 20,046 shares of the company’s stock, valued at approximately $1,947,869.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas J. Milanes sold 4,300 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $97.05, for a total value of $417,315.00. Following the sale, the senior vice president now directly owns 7,513 shares in the company, valued at $729,136.65. The disclosure for this sale can be found here. Insiders have sold a total of 74,866 shares of company stock worth $7,252,094 over the last ninety days. 0.63% of the stock is owned by insiders.

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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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