Robert W. Baird reissued their hold rating on shares of Darden Restaurants, Inc. (NYSE:DRI) in a research report sent to investors on Tuesday. They currently have a $94.00 price target on the restaurant operator’s stock.
Other analysts also recently issued research reports about the stock. Canaccord Genuity reissued a buy rating and issued a $102.00 price objective on shares of Darden Restaurants in a research note on Friday, June 9th. Maxim Group reissued a hold rating and issued a $90.00 price objective on shares of Darden Restaurants in a research note on Wednesday, June 21st. Morgan Stanley reissued an equal weight rating and issued a $86.00 price objective (up previously from $83.00) on shares of Darden Restaurants in a research note on Thursday, June 22nd. Zacks Investment Research downgraded shares of Darden Restaurants from a buy rating to a hold rating in a research note on Friday, June 23rd. Finally, Oppenheimer Holdings, Inc. raised their price objective on shares of Darden Restaurants in a research note on Monday, June 26th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company. Darden Restaurants presently has an average rating of Hold and an average price target of $84.91.
Shares of Darden Restaurants (NYSE:DRI) opened at 82.88 on Tuesday. The company has a market cap of $10.39 billion, a price-to-earnings ratio of 21.79 and a beta of 0.27. Darden Restaurants has a 1-year low of $60.16 and a 1-year high of $95.22. The stock has a 50 day moving average price of $82.69 and a 200-day moving average price of $84.83.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.03. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.86 billion. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the business posted $1.10 earnings per share. Equities research analysts forecast that Darden Restaurants will post $4.47 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Friday, October 6th. Darden Restaurants’s dividend payout ratio (DPR) is 66.14%.
In related news, insider Eugene I. Lee, Jr. sold 93,125 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $91.58, for a total value of $8,528,387.50. Following the completion of the transaction, the insider now owns 165,062 shares of the company’s stock, valued at $15,116,377.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.63% of the company’s stock.
A number of large investors have recently modified their holdings of DRI. Russell Investments Group Ltd. raised its stake in Darden Restaurants by 7.5% in the first quarter. Russell Investments Group Ltd. now owns 85,754 shares of the restaurant operator’s stock worth $7,176,000 after buying an additional 5,990 shares in the last quarter. Comerica Bank raised its stake in Darden Restaurants by 4.0% in the first quarter. Comerica Bank now owns 39,607 shares of the restaurant operator’s stock worth $3,405,000 after buying an additional 1,509 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Darden Restaurants by 55.0% in the first quarter. UBS Asset Management Americas Inc. now owns 1,250,125 shares of the restaurant operator’s stock worth $104,598,000 after buying an additional 443,669 shares in the last quarter. Sei Investments Co. raised its stake in Darden Restaurants by 241.6% in the first quarter. Sei Investments Co. now owns 11,992 shares of the restaurant operator’s stock worth $1,004,000 after buying an additional 8,481 shares in the last quarter. Finally, Engineers Gate Manager LP bought a new position in Darden Restaurants in the first quarter worth approximately $226,000. 88.65% of the stock is owned by institutional investors.
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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