BMO Capital Markets set a $80.00 target price on Darden Restaurants, Inc. (NYSE:DRI) in a research report sent to investors on Thursday, October 19th. The firm currently has a hold rating on the restaurant operator’s stock.
Several other analysts have also recently commented on the company. J P Morgan Chase & Co reiterated a neutral rating and issued a $93.00 target price (up from $82.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Jefferies Group LLC increased their price target on Darden Restaurants from $80.00 to $90.00 and gave the stock a hold rating in a report on Wednesday, June 28th. Royal Bank Of Canada increased their price target on Darden Restaurants from $86.00 to $96.00 and gave the stock a sector perform rating in a report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) restated a neutral rating and set a $87.00 price target (up from $81.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Finally, Maxim Group restated a hold rating and set a $90.00 price target on shares of Darden Restaurants in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and nine have given a buy rating to the company’s stock. Darden Restaurants has a consensus rating of Hold and an average price target of $87.59.
Darden Restaurants (NYSE DRI) traded up 0.65% during midday trading on Thursday, reaching $83.33. 1,585,852 shares of the company traded hands. The stock has a market capitalization of $10.31 billion, a price-to-earnings ratio of 21.58 and a beta of 0.24. The firm has a 50 day moving average of $81.20 and a 200-day moving average of $85.23. Darden Restaurants has a 12 month low of $62.94 and a 12 month high of $95.22.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.99. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.88 earnings per share. Analysts forecast that Darden Restaurants will post $4.44 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be paid a $0.63 dividend. The ex-dividend date is Friday, October 6th. This represents a $2.52 annualized dividend and a yield of 3.02%. Darden Restaurants’s dividend payout ratio is currently 65.12%.
Hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in shares of Darden Restaurants by 2.7% in the 2nd quarter. BlackRock Inc. now owns 11,779,249 shares of the restaurant operator’s stock valued at $1,065,316,000 after acquiring an additional 314,996 shares in the last quarter. State Street Corp raised its holdings in shares of Darden Restaurants by 0.3% in the 2nd quarter. State Street Corp now owns 5,479,782 shares of the restaurant operator’s stock valued at $495,583,000 after acquiring an additional 14,883 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Darden Restaurants by 0.5% in the 2nd quarter. Wells Fargo & Company MN now owns 3,244,502 shares of the restaurant operator’s stock valued at $293,433,000 after acquiring an additional 15,194 shares in the last quarter. APG Asset Management N.V. raised its holdings in shares of Darden Restaurants by 34.4% in the 3rd quarter. APG Asset Management N.V. now owns 2,361,712 shares of the restaurant operator’s stock valued at $186,056,000 after acquiring an additional 604,364 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its holdings in shares of Darden Restaurants by 3.7% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,322,512 shares of the restaurant operator’s stock valued at $104,184,000 after acquiring an additional 47,113 shares in the last quarter. Institutional investors and hedge funds own 89.59% of the company’s stock.
About Darden Restaurants
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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