HS Management Partners LLC Acquires Shares of 1,993,450 Darden Restaurants, Inc. (DRI)

HS Management Partners LLC acquired a new stake in Darden Restaurants, Inc. (NYSE:DRI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,993,450 shares of the restaurant operator’s stock, valued at approximately $157,044,000. Darden Restaurants accounts for about 5.1% of HS Management Partners LLC’s investment portfolio, making the stock its 12th biggest holding. HS Management Partners LLC owned 1.61% of Darden Restaurants at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. boosted its stake in shares of Darden Restaurants by 2.7% in the second quarter. BlackRock Inc. now owns 11,779,249 shares of the restaurant operator’s stock valued at $1,065,316,000 after purchasing an additional 314,996 shares during the period. State Street Corp boosted its stake in shares of Darden Restaurants by 0.3% in the second quarter. State Street Corp now owns 5,479,782 shares of the restaurant operator’s stock valued at $495,583,000 after purchasing an additional 14,883 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Darden Restaurants by 2.2% in the third quarter. Wells Fargo & Company MN now owns 3,317,326 shares of the restaurant operator’s stock valued at $261,339,000 after purchasing an additional 72,824 shares during the period. APG Asset Management N.V. boosted its stake in shares of Darden Restaurants by 34.4% in the third quarter. APG Asset Management N.V. now owns 2,361,712 shares of the restaurant operator’s stock valued at $186,056,000 after purchasing an additional 604,364 shares during the period. Finally, Robeco Institutional Asset Management B.V. boosted its stake in shares of Darden Restaurants by 3.7% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,322,512 shares of the restaurant operator’s stock valued at $104,184,000 after purchasing an additional 47,113 shares during the period. 91.94% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently commented on DRI. Robert W. Baird reissued a “hold” rating and issued a $94.00 price objective on shares of Darden Restaurants in a research note on Tuesday, September 19th. BidaskClub raised shares of Darden Restaurants from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Zacks Investment Research raised shares of Darden Restaurants from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Oppenheimer reissued a “buy” rating and issued a $100.00 price objective on shares of Darden Restaurants in a research note on Wednesday, September 20th. Finally, Wells Fargo & Company lowered their price objective on shares of Darden Restaurants from $90.00 to $84.00 and set a “market perform” rating for the company in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $87.59.

Darden Restaurants, Inc. (NYSE:DRI) opened at $86.06 on Tuesday. Darden Restaurants, Inc. has a 12 month low of $71.01 and a 12 month high of $95.22. The company has a quick ratio of 0.24, a current ratio of 0.38 and a debt-to-equity ratio of 0.45. The stock has a market cap of $10,640.00, a P/E ratio of 20.59, a P/E/G ratio of 1.86 and a beta of 0.22.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.99. The company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.93 billion. Darden Restaurants had a net margin of 6.60% and a return on equity of 26.06%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.88 earnings per share. equities research analysts forecast that Darden Restaurants, Inc. will post 4.43 EPS for the current fiscal year.

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Darden Restaurants 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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