Darden Restaurants Inc. (NYSE:DRI)‘s stock had its “buy” rating reaffirmed by equities researchers at Credit Suisse Group AG in a report released on Wednesday. They currently have a $69.00 price target on the restaurant operator’s stock. Credit Suisse Group AG’s target price indicates a potential upside of 11.80% from the company’s current price.
Other analysts have also issued research reports about the stock. BTIG Research reissued a “buy” rating and issued a $75.00 price target on shares of Darden Restaurants in a research report on Friday, July 1st. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $70.00 price target on shares of Darden Restaurants in a research report on Tuesday, June 28th. Zacks Investment Research lowered shares of Darden Restaurants from a “buy” rating to a “hold” rating in a research report on Friday, July 1st. Piper Jaffray Cos. reissued an “overweight” rating and issued a $76.00 price target (down previously from $78.00) on shares of Darden Restaurants in a research report on Saturday, July 2nd. Finally, Wells Fargo & Co. lowered shares of Darden Restaurants from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $72.00 to $68.00 in a research report on Wednesday, July 13th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company. Darden Restaurants has a consensus rating of “Hold” and an average target price of $70.47.
Darden Restaurants (NYSE:DRI) traded up 1.50% on Wednesday, reaching $62.08. 793,654 shares of the company’s stock traded hands. Darden Restaurants has a 52-week low of $53.38 and a 52-week high of $68.68. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 21.42 and a beta of 0.41. The company’s 50 day moving average is $61.98 and its 200-day moving average is $63.84.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Tuesday, October 4th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. The firm earned $1.71 billion during the quarter. Darden Restaurants had a net margin of 5.41% and a return on equity of 21.95%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 earnings per share. Equities analysts expect that Darden Restaurants will post $3.87 EPS for the current year.
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 $0.56 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.63%. Darden Restaurants’s payout ratio is 76.98%.
In other news, Director James P. Fogarty acquired 3,000 shares of Darden Restaurants stock in a transaction on Thursday, July 7th. The stock was acquired at an average cost of $61.70 per share, for a total transaction of $185,100.00. Following the purchase, the director now owns 7,890 shares in the company, valued at $486,813. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.69% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in DRI. Trust Co. of Toledo NA OH raised its stake in Darden Restaurants by 2.0% in the second quarter. Trust Co. of Toledo NA OH now owns 23,271 shares of the restaurant operator’s stock worth $1,474,000 after buying an additional 451 shares in the last quarter. GW&K Investment Management LLC increased its stake in shares of Darden Restaurants by 6.6% in the second quarter. GW&K Investment Management LLC now owns 381,922 shares of the restaurant operator’s stock worth $24,191,000 after buying an additional 23,780 shares during the last quarter. Capital Fund Management S.A. increased its stake in shares of Darden Restaurants by 11,032.3% in the second quarter. Capital Fund Management S.A. now owns 172,551 shares of the restaurant operator’s stock worth $10,929,000 after buying an additional 171,001 shares during the last quarter. First Manhattan Co. increased its stake in shares of Darden Restaurants by 62.4% in the second quarter. First Manhattan Co. now owns 2,679 shares of the restaurant operator’s stock worth $169,000 after buying an additional 1,029 shares during the last quarter. Finally, Aviva PLC increased 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 last quarter. Institutional investors and hedge funds 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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