Darden Restaurants Inc. (NYSE:DRI) will post its Q117 quarterly earnings results on Tuesday, October 4th. Analysts expect Darden Restaurants to post earnings of $0.82 per share and revenue of $1.72 billion for the quarter.
Darden Restaurants Inc. (NYSE:DRI) opened at 60.63 on Friday. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 20.92 and a beta of 0.52. Darden Restaurants Inc. has a one year low of $53.38 and a one year high of $68.97. The stock’s 50 day moving average price is $62.07 and its 200-day moving average price is $64.02.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Wednesday, October 5th. Darden Restaurants’s dividend payout ratio is currently 76.98%.
DRI has been the topic of a number of research analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $76.00 price target on shares of Darden Restaurants in a research report on Tuesday, July 5th. Tigress Financial raised Darden Restaurants from a “neutral” rating to a “buy” rating in a research report on Thursday, June 23rd. Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $76.00 price objective for the company in a report on Wednesday, June 15th. BTIG Research reiterated a “buy” rating and set a $75.00 price objective on shares of Darden Restaurants in a report on Friday, July 1st. Finally, Maxim Group reiterated a “buy” rating and set a $74.00 price objective (down from $77.00) on shares of Darden Restaurants in a report on Friday, July 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $70.83.
In related news, Director James P. Fogarty acquired 3,000 shares of the company’s stock in a transaction on Thursday, July 7th. The stock was purchased at an average cost of $61.70 per share, with a total value of $185,100.00. Following the acquisition, the director now directly owns 7,890 shares of the company’s stock, valued at $486,813. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.69% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in DRI. Krilogy Financial LLC boosted its position in shares of Darden Restaurants by 1.6% in the second quarter. Krilogy Financial LLC now owns 2,133 shares of the restaurant operator’s stock valued at $135,000 after buying an additional 33 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Darden Restaurants during the second quarter valued at $2,008,000. Point72 Asset Management L.P. bought a new position in shares of Darden Restaurants during the second quarter valued at $9,039,000. Arizona State Retirement System boosted its position in shares of Darden Restaurants by 21.5% in the second quarter. Arizona State Retirement System now owns 52,628 shares of the restaurant operator’s stock valued at $3,333,000 after buying an additional 9,300 shares in the last quarter. Finally, EverPoint Asset Management LLC bought a new position in shares of Darden Restaurants during the second quarter valued at $8,234,000. 94.57% of the stock is 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).
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.