Darden Restaurants (DRI) Rating Reiterated by Wells Fargo & Co

Darden Restaurants (NYSE:DRI)‘s stock had its “market perform” rating reaffirmed by investment analysts at Wells Fargo & Co in a note issued to investors on Tuesday. They currently have a $99.00 price objective on the restaurant operator’s stock, up from their prior price objective of $92.00. Wells Fargo & Co’s price objective would suggest a potential upside of 1.00% from the stock’s current price.

A number of other research analysts have also recently commented on DRI. Morgan Stanley restated an “equal weight” rating and set a $88.00 price target (down from $93.00) on shares of Darden Restaurants in a research note on Wednesday, September 27th. Canaccord Genuity restated a “buy” rating and set a $97.00 price target on shares of Darden Restaurants in a research note on Wednesday, September 27th. BMO Capital Markets restated a “market perform” rating and set a $85.00 price target (down from $87.00) on shares of Darden Restaurants in a research note on Wednesday, September 27th. Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research note on Monday, January 8th. Finally, Royal Bank of Canada decreased their price target on Darden Restaurants from $96.00 to $90.00 and set a “sector perform” rating on the stock in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $95.32.

Darden Restaurants (DRI) traded up $0.42 during trading hours on Tuesday, reaching $98.02. The company’s stock had a trading volume of 1,076,331 shares, compared to its average volume of 1,725,388. 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 one year low of $71.43 and a one year high of $100.11. The firm has a market capitalization of $12,056.90, a PE ratio of 25.13, a price-to-earnings-growth ratio of 1.89 and a beta of 0.20.

In related news, CFO Ricardo Cardenas sold 10,783 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $97.17, for a total value of $1,047,784.11. Following the transaction, the chief financial officer now owns 20,046 shares of the company’s stock, valued at $1,947,869.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eugene I. Lee, Jr. sold 59,783 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $96.80, for a total value of $5,786,994.40. Following the completion of the transaction, the insider now directly owns 164,396 shares in the company, valued at approximately $15,913,532.80. The disclosure for this sale can be found here. Insiders sold 74,866 shares of company stock worth $7,252,094 in the last three months. 0.63% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Bruderman Asset Management LLC increased its holdings in Darden Restaurants by 0.4% in the second quarter. Bruderman Asset Management LLC now owns 2,532 shares of the restaurant operator’s stock valued at $229,000 after buying an additional 10 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Darden Restaurants by 1.7% in the second quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock valued at $114,000 after buying an additional 21 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Darden Restaurants by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,238 shares of the restaurant operator’s stock valued at $835,000 after buying an additional 28 shares during the last quarter. Argent Capital Management LLC increased its holdings in Darden Restaurants by 2.0% in the second quarter. Argent Capital Management LLC now owns 5,125 shares of the restaurant operator’s stock valued at $464,000 after buying an additional 100 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in Darden Restaurants by 1.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,345 shares of the restaurant operator’s stock valued at $573,000 after buying an additional 114 shares during the last quarter. 91.45% of the stock is currently owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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