Oak Point Wealth Management purchased a new stake in Darden Restaurants, Inc. (NYSE:DRI) in the 4th quarter, Holdings Channel reports. The fund purchased 5,360 shares of the restaurant operator’s stock, valued at approximately $510,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. D.A. Davidson & CO. increased its position in shares of Darden Restaurants by 1.7% during the second 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 in the last quarter. M&R Capital Management Inc. bought a new stake in shares of Darden Restaurants during the second quarter worth about $108,000. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Darden Restaurants during the third quarter worth about $115,000. Grove Bank & Trust increased its position in shares of Darden Restaurants by 155.6% during the third quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock worth $145,000 after acquiring an additional 1,120 shares in the last quarter. Finally, Carlson Capital Management bought a new stake in shares of Darden Restaurants during the fourth quarter worth about $229,000. 91.45% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on DRI shares. Robert W. Baird reissued a “hold” rating and set a $94.00 target price on shares of Darden Restaurants in a research report on Tuesday, September 19th. Oppenheimer reissued a “buy” rating and set a $100.00 target price on shares of Darden Restaurants in a research report on Wednesday, September 20th. Zacks Investment Research raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $94.00 target price for the company in a research report on Friday, September 22nd. Maxim Group reissued a “hold” rating and set a $90.00 target price on shares of Darden Restaurants in a research report on Thursday, September 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price (down from $96.00) on shares of Darden Restaurants in a research report on Friday, September 22nd. One 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’s stock. Darden Restaurants has a consensus rating of “Hold” and an average target price of $94.73.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.58%. The ex-dividend date is Tuesday, January 9th. Darden Restaurants’s dividend payout ratio (DPR) is presently 63.48%.
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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).
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