Darden Restaurants, Inc. (DRI) Position Boosted by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in shares of Darden Restaurants, Inc. (NYSE:DRI) by 9.1% during the fourth quarter, Holdings Channel reports. The fund owned 5,995 shares of the restaurant operator’s stock after buying an additional 500 shares during the period. Franklin Resources Inc.’s holdings in Darden Restaurants were worth $436,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Bruderman Asset Management LLC raised its stake in Darden Restaurants by 0.5% in the third quarter. Bruderman Asset Management LLC now owns 3,404 shares of the restaurant operator’s stock worth $209,000 after buying an additional 17 shares during the last quarter. Gateway Investment Advisers LLC increased its position in Darden Restaurants by 0.4% in the third quarter. Gateway Investment Advisers LLC now owns 10,523 shares of the restaurant operator’s stock worth $645,000 after buying an additional 44 shares during the period. Choate Investment Advisors increased its position in Darden Restaurants by 0.3% in the third quarter. Choate Investment Advisors now owns 13,381 shares of the restaurant operator’s stock worth $821,000 after buying an additional 45 shares during the period. First Manhattan Co. increased its position in Darden Restaurants by 2.8% in the third quarter. First Manhattan Co. now owns 2,754 shares of the restaurant operator’s stock worth $168,000 after buying an additional 75 shares during the period. Finally, UMB Bank N A MO increased its position in Darden Restaurants by 2.6% in the third quarter. UMB Bank N A MO now owns 3,720 shares of the restaurant operator’s stock worth $228,000 after buying an additional 95 shares during the period. 87.64% of the stock is owned by institutional investors and hedge funds.

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

Shares of Darden Restaurants, Inc. (NYSE:DRI) opened at 76.71 on Friday. Darden Restaurants, Inc. has a 12 month low of $59.50 and a 12 month high of $79.43. The company has a 50-day moving average of $75.25 and a 200 day moving average of $70.45. The company has a market capitalization of $9.52 billion, a P/E ratio of 22.47 and a beta of 0.28.

The business also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Monday, April 10th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 2.92%. The ex-dividend date is Thursday, April 6th. Darden Restaurants’s dividend payout ratio (DPR) is currently 65.50%.

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A number of research analysts have commented on the stock. Sanford C. Bernstein reiterated a “market perform” rating and set a $69.00 price objective on shares of Darden Restaurants in a research note on Wednesday, December 7th. Maxim Group reiterated a “hold” rating and set a $80.00 price objective on shares of Darden Restaurants in a research note on Thursday. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $85.00 price objective on shares of Darden Restaurants in a research note on Tuesday. Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Tuesday, February 21st. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Darden Restaurants in a research note on Thursday. Two analysts have rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $75.14.

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).

5 Day Chart for NYSE:DRI

Want to see what other hedge funds are holding DRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Darden Restaurants, Inc. (NYSE:DRI).

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