Credit Suisse Group reaffirmed their market perform rating on shares of Darden Restaurants (NYSE:DRI) in a research report sent to investors on Wednesday, December 20th, The Fly reports. They currently have a $90.00 price target on the restaurant operator’s stock, up from their prior price target of $82.00. The analysts noted that the move was a valuation call.
DRI has been the topic of a number of other reports. ValuEngine raised Darden Restaurants from a hold rating to a buy rating in a research report on Friday, September 1st. Longbow Research initiated coverage on Darden Restaurants in a research report on Friday, October 13th. They set a neutral rating on the stock. Zacks Investment Research raised Darden Restaurants from a hold rating to a buy rating and set a $98.00 price target on the stock in a research report on Thursday, December 14th. Maxim Group reissued a hold rating and set a $90.00 price target on shares of Darden Restaurants in a research report on Thursday, September 21st. Finally, Wells Fargo & Co dropped their price target on Darden Restaurants from $90.00 to $84.00 and set a market perform rating on the stock in a research report on Wednesday, September 27th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $95.18.
Shares of Darden Restaurants (DRI) traded up $0.81 during trading on Wednesday, hitting $97.60. The stock had a trading volume of 1,277,400 shares, compared to its average volume of 1,830,000. The firm has a market capitalization of $12,070.00, a price-to-earnings ratio of 24.58, a PEG ratio of 2.11 and a beta of 0.20. The company has a quick ratio of 0.20, a current ratio of 0.34 and a debt-to-equity ratio of 0.47. Darden Restaurants has a 12 month low of $71.43 and a 12 month high of $100.11.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.52 dividend on an annualized basis and a yield of 2.58%. Darden Restaurants’s dividend payout ratio (DPR) is currently 63.48%.
A number of hedge funds and other institutional investors have recently modified their holdings of DRI. HS Management Partners LLC purchased a new position in Darden Restaurants in the third quarter valued at about $157,044,000. Janus Henderson Group PLC grew its stake in Darden Restaurants by 113.6% in the third quarter. Janus Henderson Group PLC now owns 1,576,026 shares of the restaurant operator’s stock valued at $124,158,000 after purchasing an additional 838,341 shares in the last quarter. APG Asset Management N.V. grew its stake in Darden Restaurants by 34.4% in the third quarter. APG Asset Management N.V. now owns 2,361,712 shares of the restaurant operator’s stock valued at $186,056,000 after purchasing an additional 604,364 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Darden Restaurants by 66.8% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,275,399 shares of the restaurant operator’s stock valued at $115,348,000 after purchasing an additional 510,969 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its stake in Darden Restaurants by 79.8% in the third quarter. Allianz Asset Management GmbH now owns 722,952 shares of the restaurant operator’s stock valued at $56,954,000 after purchasing an additional 320,902 shares in the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.
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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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