California Public Employees Retirement System Raises Holdings in Darden Restaurants, Inc. (NYSE:DRI)

California Public Employees Retirement System grew its stake in shares of Darden Restaurants, Inc. (NYSE:DRI) by 6.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 285,173 shares of the restaurant operator’s stock after acquiring an additional 17,273 shares during the quarter. California Public Employees Retirement System owned about 0.23% of Darden Restaurants worth $22,466,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of DRI. Bruderman Asset Management LLC increased its holdings in Darden Restaurants by 0.4% in the 2nd quarter. Bruderman Asset Management LLC now owns 2,532 shares of the restaurant operator’s stock worth $229,000 after buying an additional 10 shares in the last quarter. D.A. Davidson & CO. increased its holdings in Darden Restaurants by 1.7% in the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock worth $114,000 after buying an additional 21 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Darden Restaurants by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,238 shares of the restaurant operator’s stock worth $835,000 after buying an additional 28 shares in the last quarter. BB&T Securities LLC increased its holdings in Darden Restaurants by 0.3% in the 2nd quarter. BB&T Securities LLC now owns 35,622 shares of the restaurant operator’s stock worth $3,221,000 after buying an additional 90 shares in the last quarter. Finally, Argent Capital Management LLC increased its holdings in Darden Restaurants by 2.0% in the 2nd quarter. Argent Capital Management LLC now owns 5,125 shares of the restaurant operator’s stock worth $464,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.

DRI has been the topic of several research reports. Credit Suisse Group dropped their target price on Darden Restaurants from $85.00 to $82.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 27th. SunTrust Banks set a $94.00 target price on Darden Restaurants and gave the stock a “hold” rating in a research report on Monday, December 11th. Zacks Investment Research cut Darden Restaurants from a “buy” rating to a “hold” rating in a research report on Monday, December 18th. Maxim Group reissued a “buy” rating and issued a $112.00 target price (up from $103.00) on shares of Darden Restaurants in a research report on Tuesday. Finally, Stifel Nicolaus began coverage on Darden Restaurants in a research report on Monday, October 2nd. They issued a “buy” rating and a $92.00 target price on the stock. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $95.32.

Darden Restaurants, Inc. (NYSE:DRI) traded up $0.42 during trading hours on Friday, reaching $98.02. The company’s stock had a trading volume of 1,076,331 shares, compared to its average volume of 1,840,000. The company has a current ratio of 0.34, a quick ratio of 0.20 and a debt-to-equity ratio of 0.47. Darden Restaurants, Inc. has a 1-year low of $71.43 and a 1-year high of $100.11. The company has a market cap of $12,120.00, a P/E ratio of 24.69, a price-to-earnings-growth ratio of 2.11 and a beta of 0.20.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Tuesday, January 9th. Darden Restaurants’s payout ratio is 63.48%.

In other news, insider Eugene I. Lee, Jr. sold 59,783 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $96.80, for a total transaction of $5,786,994.40. Following the transaction, the insider now owns 164,396 shares of the company’s stock, valued at approximately $15,913,532.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Douglas J. Milanes sold 4,300 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $97.05, for a total value of $417,315.00. Following the transaction, the senior vice president now directly owns 7,513 shares in the company, valued at approximately $729,136.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,866 shares of company stock worth $7,252,094. Corporate insiders own 0.63% of the company’s stock.

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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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