Morgan Stanley reiterated their hold rating on shares of Darden Restaurants Inc. (NYSE:DRI) in a research report report published on Tuesday. The brokerage currently has a $67.00 price objective on the restaurant operator’s stock.
Several other research firms also recently commented on DRI. Deutsche Bank AG restated a buy rating and set a $76.00 target price on shares of Darden Restaurants in a research report on Tuesday, July 5th. BMO Capital Markets restated a market perform rating and set a $64.00 target price (down previously from $66.00) on shares of Darden Restaurants in a research report on Tuesday, July 5th. Stifel Nicolaus downgraded Darden Restaurants from a hold rating to a sell rating and set a $53.00 target price for the company. in a research report on Tuesday, July 26th. Zacks Investment Research upgraded Darden Restaurants from a hold rating to a buy rating and set a $76.00 target price for the company in a research report on Wednesday, June 15th. Finally, Oppenheimer Holdings Inc. restated an outperform rating and set a $70.00 target price on shares of Darden Restaurants in a research report on Tuesday, June 28th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Darden Restaurants presently has a consensus rating of Hold and an average price target of $70.83.
Shares of Darden Restaurants (NYSE:DRI) opened at 60.63 on Tuesday. The stock’s 50 day moving average price is $62.07 and its 200 day moving average price is $64.02. Darden Restaurants has a one year low of $53.38 and a one year high of $68.97. The stock has a market capitalization of $7.65 billion, a P/E ratio of 20.92 and a beta of 0.52.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be issued a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.69%. Darden Restaurants’s dividend payout ratio (DPR) is 76.98%.
In other news, Director James P. Fogarty purchased 3,000 shares of the business’s stock in a transaction dated Thursday, July 7th. The shares were bought at an average cost of $61.70 per share, for a total transaction of $185,100.00. Following the completion of the acquisition, the director now directly owns 7,890 shares in the company, valued at approximately $486,813. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.68% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of the stock. CENTRAL TRUST Co raised its stake in shares of Darden Restaurants by 16.5% in the second quarter. CENTRAL TRUST Co now owns 1,799 shares of the restaurant operator’s stock worth $114,000 after buying an additional 255 shares during the period. Krilogy Financial LLC raised its stake 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 worth $135,000 after buying an additional 33 shares during the period. Pacer Advisors Inc. raised its stake in shares of Darden Restaurants by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,369 shares of the restaurant operator’s stock worth $150,000 after buying an additional 195 shares during the period. M&R Capital Management Inc. purchased a new stake in shares of Darden Restaurants during the second quarter worth approximately $158,000. Finally, Citizens Financial Group Inc RI raised its stake in shares of Darden Restaurants by 320.0% in the first quarter. Citizens Financial Group Inc RI now owns 2,520 shares of the restaurant operator’s stock worth $167,000 after buying an additional 1,920 shares during the period. 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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