Darden Restaurants’ (NYSE:DRI) “Market Perform” Rating Reiterated at Wells Fargo & Co

Darden Restaurants (NYSE:DRI)‘s stock had its “market perform” rating restated by Wells Fargo & Co in a research report issued on Tuesday, January 9th, The Fly reports. They presently have a $99.00 price objective on the restaurant operator’s stock, up from their prior price objective of $92.00. Wells Fargo & Co’s price target indicates a potential upside of 1.00% from the company’s current price.

Other equities analysts also recently issued reports about the stock. Oppenheimer reissued a “buy” rating and issued a $100.00 price target on shares of Darden Restaurants in a research note 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 price target for the company in a research note on Friday, September 22nd. Maxim Group raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and increased their price target for the stock from $90.00 to $93.00 in a research note on Wednesday, September 27th. Canaccord Genuity reaffirmed a “buy” rating and set a $97.00 target price on shares of Darden Restaurants in a research note on Wednesday, September 27th. Finally, Citigroup decreased their target price on shares of Darden Restaurants from $105.00 to $90.00 and set a “buy” rating for the company in a research note on Monday, October 2nd. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $95.32.

Darden Restaurants (NYSE DRI) opened at $98.02 on Tuesday. The company has a market cap of $12,108.78, a PE ratio of 25.13, a PEG ratio of 1.90 and a beta of 0.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.20 and a current ratio of 0.34. Darden Restaurants has a one year low of $71.43 and a one year high of $100.11.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.03. Darden Restaurants had a net margin of 6.46% and a return on equity of 26.24%. sell-side analysts predict that Darden Restaurants will post 4.76 EPS for the current year.

In other news, SVP Douglas J. Milanes sold 4,300 shares of Darden Restaurants stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $97.05, for a total transaction of $417,315.00. Following the transaction, the senior vice president now owns 7,513 shares in the company, valued at approximately $729,136.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ricardo Cardenas sold 10,783 shares of the firm’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $97.17, for a total transaction of $1,047,784.11. Following the sale, the chief financial officer now owns 20,046 shares in the company, valued at $1,947,869.82. The disclosure for this sale can be found here. Insiders have sold a total of 74,866 shares of company stock worth $7,252,094 in the last quarter. Corporate insiders own 0.63% of the company’s stock.

Several hedge funds have recently made changes to their positions in DRI. Toronto Dominion Bank increased its holdings in Darden Restaurants by 26.0% in the 2nd quarter. Toronto Dominion Bank now owns 42,119 shares of the restaurant operator’s stock valued at $3,808,000 after acquiring an additional 8,694 shares during the last quarter. Tredje AP fonden increased its holdings in Darden Restaurants by 11.0% in the 3rd quarter. Tredje AP fonden now owns 61,850 shares of the restaurant operator’s stock valued at $4,873,000 after acquiring an additional 6,110 shares during the last quarter. Eastern Bank bought a new stake in Darden Restaurants in the 3rd quarter valued at $2,327,000. Schwab Charles Investment Management Inc. increased its holdings in Darden Restaurants by 4.3% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,061,980 shares of the restaurant operator’s stock valued at $83,663,000 after acquiring an additional 43,734 shares during the last quarter. Finally, Korea Investment CORP increased its holdings in Darden Restaurants by 2.8% in the 3rd quarter. Korea Investment CORP now owns 298,182 shares of the restaurant operator’s stock valued at $23,491,000 after acquiring an additional 8,200 shares during the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.

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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).

The Fly

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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