Darden Restaurants Inc. (NYSE:DRI)‘s stock had its “sector perform” rating reaffirmed by analysts at RBC Capital Markets in a report issued on Friday.
A number of other analysts also recently commented on DRI. Wells Fargo & Co. restated a “market perform” rating and set a $68.00 price objective on shares of Darden Restaurants in a report on Wednesday. Morgan Stanley reiterated a “hold” rating and issued a $67.00 price target on shares of Darden Restaurants in a report on Tuesday. Zacks Investment Research upgraded Darden Restaurants from a “sell” rating to a “hold” rating in a report on Tuesday. Robert W. Baird restated a “neutral” rating on shares of Darden Restaurants in a research note on Thursday, September 8th. Finally, Oppenheimer Holdings Inc. restated an “outperform” rating and set a $70.00 target price on shares of Darden Restaurants in a research note on Wednesday, September 7th. 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 has an average rating of “Hold” and a consensus target price of $70.83.
Darden Restaurants (NYSE:DRI) opened at 60.63 on Friday. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 20.92 and a beta of 0.52. Darden Restaurants has a 12-month low of $53.38 and a 12-month high of $68.97. The company has a 50-day moving average price of $62.07 and a 200-day moving average price of $64.02.
The firm 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 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 of this dividend is Wednesday, October 5th. Darden Restaurants’s dividend payout ratio (DPR) is 76.98%.
In other news, Director James P. Fogarty bought 3,000 shares of the stock in a transaction on Thursday, July 7th. The stock was purchased at an average price of $61.70 per share, with a total value of $185,100.00. Following the completion of the purchase, the director now owns 7,890 shares of the company’s stock, valued at $486,813. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company’s stock.
A number of large investors have recently modified their holdings of the stock. Macquarie Group Ltd. increased 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 in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Darden Restaurants during the second quarter valued at approximately $292,000. Kentucky Retirement Systems acquired a new position in shares of Darden Restaurants during the second quarter valued at approximately $614,000. Nomura Holdings Inc. boosted its position in shares of 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 acquired a new position in shares of Darden Restaurants during the second quarter valued at approximately $973,000. 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).
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