Morgan Stanley reaffirmed their hold rating on shares of Darden Restaurants Inc. (NYSE:DRI) in a report released on Tuesday morning. Morgan Stanley currently has a $67.00 target price on the restaurant operator’s stock.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised Darden Restaurants from a sell rating to a hold rating in a report on Tuesday. BTIG Research reissued a buy rating and issued a $75.00 price objective on shares of Darden Restaurants in a report on Friday, July 1st. Oppenheimer Holdings Inc. reissued an outperform rating and issued a $70.00 price objective on shares of Darden Restaurants in a report on Tuesday, June 28th. Piper Jaffray Cos. reissued an overweight rating and issued a $76.00 price objective (down previously from $78.00) on shares of Darden Restaurants in a report on Saturday, July 2nd. Finally, Wells Fargo & Co. cut Darden Restaurants from an outperform rating to a market perform rating and decreased their price objective for the company from $72.00 to $68.00 in a report on Wednesday, July 13th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Darden Restaurants has a consensus rating of Hold and a consensus price target of $70.83.
Darden Restaurants (NYSE:DRI) opened at 61.52 on Tuesday. Darden Restaurants has a 1-year low of $53.38 and a 1-year high of $69.25. The stock has a 50 day moving average price of $62.13 and a 200 day moving average price of $64.07. The company has a market cap of $7.76 billion, a P/E ratio of 21.23 and a beta of 0.52.
In other news, Director James P. Fogarty purchased 3,000 shares of the firm’s stock in a transaction on Thursday, July 7th. The shares were bought at an average cost of $61.70 per share, for a total transaction of $185,100.00. Following the completion of the purchase, the director now directly owns 7,890 shares of the company’s stock, valued at $486,813. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.69% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DRI. CENTRAL TRUST Co boosted its position in Darden Restaurants by 16.5% in the second quarter. CENTRAL TRUST Co now owns 1,799 shares of the restaurant operator’s stock worth $114,000 after buying an additional 255 shares during the period. Krilogy Financial LLC boosted its position in Darden Restaurants by 1.6% in the second quarter. Krilogy Financial LLC now owns 2,133 shares of the restaurant operator’s stock worth $135,000 after buying an additional 33 shares during the period. Pacer Advisors Inc. boosted its position in Darden Restaurants by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,369 shares of the restaurant operator’s stock worth $150,000 after buying an additional 195 shares during the period. M&R Capital Management Inc. purchased a new position in Darden Restaurants during the second quarter worth approximately $158,000. Finally, Citizens Financial Group Inc RI boosted its position in Darden Restaurants by 320.0% in the first quarter. Citizens Financial Group Inc RI now owns 2,520 shares of the restaurant operator’s stock worth $167,000 after buying an additional 1,920 shares during the period. Institutional investors own 94.57% of the company’s stock.
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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