Darden Restaurants Inc. (NYSE:DRI)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Oppenheimer Holdings Inc. in a note issued to investors on Friday. They presently have a $70.00 price target on the restaurant operator’s stock. Oppenheimer Holdings Inc.’s target price suggests a potential upside of 13.58% from the company’s previous close.
A number of other equities analysts have also commented on DRI. Robert W. Baird restated a “neutral” rating and issued a $70.00 price objective on shares of Darden Restaurants in a research report on Tuesday, June 28th. Maxim Group restated a “buy” rating and issued a $74.00 price objective (down from $77.00) on shares of Darden Restaurants in a research report on Friday, July 1st. SunTrust Banks Inc. cut their price objective on shares of Darden Restaurants from $70.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday. Bank of America Corp. restated a “sell” rating on shares of Darden Restaurants in a research report on Wednesday. Finally, Zacks Investment Research lowered shares of Darden Restaurants from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. Darden Restaurants currently has a consensus rating of “Hold” and a consensus price target of $69.89.
Shares of Darden Restaurants (NYSE:DRI) traded up 1.12% during trading on Friday, reaching $61.63. 1,607,093 shares of the company’s stock traded hands. The company has a market cap of $7.70 billion, a price-to-earnings ratio of 19.90 and a beta of 0.41. The company’s 50-day moving average is $61.89 and its 200 day moving average is $63.77. Darden Restaurants has a 52-week low of $53.38 and a 52-week high of $68.68.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Tuesday, October 4th. The restaurant operator reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. Darden Restaurants had a net margin of 5.73% and a return on equity of 24.97%. The company earned $1.71 billion during the quarter. During the same quarter last year, the business posted $0.68 earnings per share. Darden Restaurants’s revenue was up 1.6% compared to the same quarter last year. Equities analysts forecast that Darden Restaurants will post $3.92 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend is Wednesday, October 5th. Darden Restaurants’s dividend payout ratio (DPR) is presently 72.03%.
Several hedge funds have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Darden Restaurants by 0.6% in the first quarter. State Street Corp now owns 5,228,348 shares of the restaurant operator’s stock worth $346,649,000 after buying an additional 32,258 shares during the period. BB&T Securities LLC acquired a new stake in shares of Darden Restaurants during the first quarter worth approximately $2,002,000. Aviva PLC boosted its stake in shares of Darden Restaurants by 0.7% in the first quarter. Aviva PLC now owns 138,386 shares of the restaurant operator’s stock worth $9,175,000 after buying an additional 1,025 shares during the period. Huntington Asset Advisors Inc. acquired a new stake in shares of Darden Restaurants during the first quarter worth approximately $484,000. Finally, M&T Bank Corp boosted its stake in shares of Darden Restaurants by 6.3% in the first quarter. M&T Bank Corp now owns 236,846 shares of the restaurant operator’s stock worth $15,703,000 after buying an additional 14,105 shares during the period. 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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