Allianz Asset Management GmbH Purchases 320,902 Shares of Darden Restaurants, Inc. (DRI)

Allianz Asset Management GmbH grew its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 79.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 722,952 shares of the restaurant operator’s stock after purchasing an additional 320,902 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.58% of Darden Restaurants worth $56,954,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DRI. Bruderman Asset Management LLC grew its position in Darden Restaurants by 0.4% during the 2nd quarter. Bruderman Asset Management LLC now owns 2,532 shares of the restaurant operator’s stock worth $229,000 after acquiring an additional 10 shares during the last quarter. Wedbush Securities Inc. grew its position in Darden Restaurants by 0.5% during the 2nd quarter. Wedbush Securities Inc. now owns 3,195 shares of the restaurant operator’s stock worth $289,000 after acquiring an additional 15 shares during the last quarter. D.A. Davidson & CO. grew its position in Darden Restaurants by 1.7% during the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock worth $114,000 after acquiring an additional 21 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Darden Restaurants by 0.3% during 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 acquiring an additional 28 shares during the last quarter. Finally, Peddock Capital Advisors LLC grew its position in Darden Restaurants by 0.7% during the 2nd quarter. Peddock Capital Advisors LLC now owns 9,524 shares of the restaurant operator’s stock worth $861,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 91.94% of the company’s stock.

Darden Restaurants, Inc. (DRI) opened at $85.53 on Thursday. Darden Restaurants, Inc. has a 52-week low of $71.01 and a 52-week high of $95.22. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.24 and a current ratio of 0.38. The firm has a market capitalization of $10,653.22, a P/E ratio of 20.86, a P/E/G ratio of 1.89 and a beta of 0.22.

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

Several equities analysts recently issued reports on DRI shares. Canaccord Genuity restated a “buy” rating and set a $97.00 price target on shares of Darden Restaurants in a research report on Wednesday, September 27th. Maxim Group upgraded Darden Restaurants from a “hold” rating to a “buy” rating and increased their price objective for the stock from $90.00 to $93.00 in a report on Wednesday, September 27th. ValuEngine upgraded Darden Restaurants from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Oppenheimer reiterated a “buy” rating and issued a $100.00 price objective on shares of Darden Restaurants in a report on Wednesday, September 20th. Finally, Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $94.00 price objective for the company in a report on Friday, September 22nd. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Darden Restaurants presently has an average rating of “Hold” and a consensus price target of $87.59.

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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).

Institutional Ownership by Quarter for Darden Restaurants (NYSE:DRI)

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