Credit Suisse Group AG restated their buy rating on shares of Darden Restaurants Inc. (NYSE:DRI) in a research note released on Wednesday morning. They currently have a $69.00 target price on the restaurant operator’s stock.
DRI has been the subject of a number of other reports. Jefferies Group reaffirmed a hold rating and issued a $64.00 price objective (down from $66.00) on shares of Darden Restaurants in a research note on Saturday, July 2nd. Zacks Investment Research lowered shares of Darden Restaurants from a hold rating to a sell rating in a research note on Tuesday, July 26th. BMO Capital Markets reaffirmed a hold rating and issued a $64.00 price objective on shares of Darden Restaurants in a research note on Thursday, September 1st. Piper Jaffray Cos. reaffirmed an overweight rating and issued a $76.00 price objective on shares of Darden Restaurants in a research note on Thursday, August 25th. Finally, BTIG Research reaffirmed a buy rating and issued a $75.00 price objective on shares of Darden Restaurants in a research note on Friday, July 1st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $69.89.
Shares of Darden Restaurants (NYSE:DRI) opened at 61.63 on Wednesday. Darden Restaurants has a 52 week low of $53.38 and a 52 week high of $68.68. The company has a market capitalization of $7.59 billion, a price-to-earnings ratio of 19.90 and a beta of 0.41. The stock has a 50 day moving average of $61.89 and a 200-day moving average of $63.77.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Tuesday, October 4th. The restaurant operator reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.06. Darden Restaurants had a net margin of 5.73% and a return on equity of 24.97%. The company earned $1.71 billion during the quarter. During the same period last year, the company earned $0.68 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Darden Restaurants will post $3.92 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.63%. Darden Restaurants’s dividend payout ratio is currently 72.03%.
A number of large investors have recently added to or reduced their stakes in DRI. BB&T Securities LLC bought a new stake in Darden Restaurants during the first quarter worth about $2,002,000. Aviva PLC raised its position in shares of Darden Restaurants by 0.7% in the first quarter. Aviva PLC now owns 138,386 shares of the restaurant operator’s stock worth $9,175,000 after buying an additional 1,025 shares during the last quarter. Huntington Asset Advisors Inc. purchased a new position in shares of Darden Restaurants during the first quarter worth $484,000. M&T Bank Corp raised its position in shares of Darden Restaurants by 6.3% in the first quarter. M&T Bank Corp now owns 236,846 shares of the restaurant operator’s stock worth $15,703,000 after buying an additional 14,105 shares during the last quarter. Finally, Menta Capital LLC purchased a new position in shares of Darden Restaurants during the first quarter worth $537,000. 94.57% of the stock is currently owned by hedge funds and other 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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