Oppenheimer Holdings Inc. reaffirmed their outperform rating on shares of Darden Restaurants, Inc. (NYSE:DRI) in a report released on Tuesday. Oppenheimer Holdings Inc. currently has a $85.00 price target on the restaurant operator’s stock.
Several other research analysts have also recently commented on DRI. Zacks Investment Research raised Darden Restaurants from a hold rating to a buy rating and set a $83.00 price target for the company in a research report on Wednesday, November 23rd. Maxim Group cut Darden Restaurants from a buy rating to a hold rating and set a $74.00 price target for the company. in a research report on Monday, November 28th. Credit Suisse Group AG cut Darden Restaurants from an outperform rating to a neutral rating and reduced their price target for the company from $73.93 to $72.00 in a research report on Tuesday, November 29th. They noted that the move was a valuation call. Guggenheim raised Darden Restaurants from a neutral rating to a buy rating in a research report on Thursday, December 1st. Finally, Sanford C. Bernstein reissued a market perform rating and set a $69.00 price target on shares of Darden Restaurants in a research report on Wednesday, December 7th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned 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 target price of $75.14.
Shares of Darden Restaurants (NYSE:DRI) opened at 76.71 on Tuesday. Darden Restaurants has a one year low of $59.50 and a one year high of $79.43. The stock’s 50 day moving average price is $75.25 and its 200 day moving average price is $70.45. The firm has a market cap of $9.52 billion, a price-to-earnings ratio of 22.47 and a beta of 0.28.
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The company also recently announced a quarterly dividend, which will be paid on Monday, May 1st. Stockholders of record on Monday, April 10th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.92%. Darden Restaurants’s dividend payout ratio (DPR) is currently 65.50%.
Several institutional investors have recently made changes to their positions in the company. Van ECK Associates Corp purchased a new position in shares of Darden Restaurants during the fourth quarter worth $113,000. TLP Group LLC purchased a new position in shares of Darden Restaurants during the third quarter worth $127,000. Global X Management Co. LLC raised its position in shares of Darden Restaurants by 106.8% in the third quarter. Global X Management Co. LLC now owns 2,529 shares of the restaurant operator’s stock worth $155,000 after buying an additional 1,306 shares during the period. SRB Corp purchased a new position in shares of Darden Restaurants during the third quarter worth $160,000. Finally, First Manhattan Co. raised its position in shares of Darden Restaurants by 2.8% in the third quarter. First Manhattan Co. now owns 2,754 shares of the restaurant operator’s stock worth $168,000 after buying an additional 75 shares during the period. Institutional investors own 87.64% 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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