Darden Restaurants Inc. (NYSE:DRI)‘s stock had its “sell” rating restated by Bank of America Corp. in a report released on Wednesday.
Several other equities analysts have also issued reports on DRI. Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a report on Wednesday, June 15th. Tigress Financial raised shares of Darden Restaurants from a “neutral” rating to a “buy” rating in a research report on Thursday, June 23rd. Wells Fargo & Co. reissued an “outperform” rating and set a $79.00 price target (up previously from $74.00) on shares of Darden Restaurants in a research report on Monday, June 27th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $70.00 price target on shares of Darden Restaurants in a research report on Tuesday, June 28th. Finally, Robert W. Baird reissued a “neutral” rating and set a $70.00 price target on shares of Darden Restaurants in a research report on Tuesday, June 28th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $69.89.
Shares of Darden Restaurants (NYSE:DRI) opened at 60.95 on Wednesday. The firm’s 50 day moving average price is $61.92 and its 200 day moving average price is $63.81. Darden Restaurants has a 52-week low of $53.38 and a 52-week high of $68.68. The stock has a market cap of $7.69 billion, a P/E ratio of 21.03 and a beta of 0.41.
Darden Restaurants (NYSE:DRI) last released its earnings results on Tuesday, October 4th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm earned $1.71 billion during the quarter. During the same quarter in the previous year, the business posted $0.68 earnings per share. Darden Restaurants’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, analysts expect that Darden Restaurants will post $3.92 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date of this dividend is Wednesday, October 5th. Darden Restaurants’s dividend payout ratio (DPR) is 72.03%.
A number of hedge funds have recently made changes to their positions in DRI. Hefty Wealth Partners bought a new stake in shares of Darden Restaurants during the third quarter valued at approximately $998,000. New England Research & Management Inc. boosted its stake in shares of Darden Restaurants by 137.2% in the third quarter. New England Research & Management Inc. now owns 21,350 shares of the restaurant operator’s stock valued at $1,309,000 after buying an additional 12,350 shares during the last quarter. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Darden Restaurants by 7.7% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 109,471 shares of the restaurant operator’s stock valued at $6,713,000 after buying an additional 7,810 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of Darden Restaurants by 8.2% in the third quarter. BNP Paribas Arbitrage SA now owns 175,298 shares of the restaurant operator’s stock valued at $10,749,000 after buying an additional 13,279 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its stake in shares of 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. Institutional investors and hedge funds 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).
Receive News & Ratings for Darden Restaurants Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants Inc. and related companies with MarketBeat.com's FREE daily email newsletter.