Darden Restaurants Inc. (NYSE:DRI) had its price objective decreased by Stifel Nicolaus from $53.00 to $50.00 in a research note issued to investors on Monday. Stifel Nicolaus currently has a sell rating on the restaurant operator’s stock.
A number of other research firms have also weighed in on DRI. Zacks Investment Research raised shares of Darden Restaurants from a hold rating to a buy rating and set a $76.00 target price on the stock in a report on Wednesday, June 15th. Tigress Financial raised shares of Darden Restaurants from a neutral rating to a buy rating in a report on Thursday, June 23rd. Robert W. Baird reissued a neutral rating and set a $70.00 target price on shares of Darden Restaurants in a report on Tuesday, June 28th. Royal Bank Of Canada reissued a sector perform rating and set a $70.00 target price on shares of Darden Restaurants in a report on Tuesday, June 28th. Finally, Oppenheimer Holdings Inc. reissued an outperform rating and set a $70.00 target price on shares of Darden Restaurants in a report on Tuesday, June 28th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $70.63.
Darden Restaurants (NYSE:DRI) traded up 0.55% on Monday, reaching $61.70. 3,455,766 shares of the company were exchanged. Darden Restaurants has a 12-month low of $53.38 and a 12-month high of $68.83. The stock has a market capitalization of $7.79 billion, a P/E ratio of 21.29 and a beta of 0.41. The company’s 50-day moving average price is $62.00 and its 200-day moving average price is $63.88.
Darden Restaurants (NYSE:DRI) last posted its earnings results 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 5.41% and a return on equity of 21.95%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.72 billion. During the same period in the previous year, the firm posted $0.68 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts anticipate that Darden Restaurants will post $3.87 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a dividend of $0.56 per share. The ex-dividend date is Wednesday, October 5th. This represents a $2.24 annualized dividend and a yield of 3.65%. Darden Restaurants’s payout ratio is 76.98%.
In other news, Director James P. Fogarty bought 3,000 shares of Darden Restaurants stock in a transaction dated Thursday, July 7th. The stock was purchased at an average price of $61.70 per share, for a total transaction of $185,100.00. Following the purchase, the director now directly owns 7,890 shares in the company, valued at approximately $486,813. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.69% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Macquarie Group Ltd. raised its stake in Darden Restaurants by 4.9% in the second quarter. Macquarie Group Ltd. now owns 3,357 shares of the restaurant operator’s stock valued at $213,000 after buying an additional 157 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Darden Restaurants during the second quarter valued at about $292,000. Kentucky Retirement Systems purchased a new stake in Darden Restaurants during the second quarter valued at about $614,000. Nomura Holdings Inc. raised its stake in Darden Restaurants by 19.4% in the second quarter. Nomura Holdings Inc. now owns 4,200 shares of the restaurant operator’s stock valued at $267,000 after buying an additional 683 shares during the last quarter. Finally, Mason Street Advisors LLC purchased a new stake in Darden Restaurants during the second quarter valued at about $973,000. Hedge funds and other 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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