Darden Restaurants (NYSE:DRI) had its target price upped by equities researchers at Sanford C. Bernstein from $91.00 to $99.00 in a report released on Wednesday, December 20th. The brokerage currently has a “market perform” rating on the restaurant operator’s stock. Sanford C. Bernstein’s target price indicates a potential upside of 1.00% from the stock’s previous close.
Several other research analysts have also commented on DRI. Canaccord Genuity reissued a “buy” rating and set a $97.00 price objective on shares of Darden Restaurants in a report on Wednesday, September 27th. Morgan Stanley reissued an “equal weight” rating and set a $88.00 price objective (down previously from $93.00) on shares of Darden Restaurants in a report on Wednesday, September 27th. BMO Capital Markets reissued a “market perform” rating and set a $85.00 price objective (down previously from $87.00) on shares of Darden Restaurants in a report on Wednesday, September 27th. Wells Fargo & Co cut their price objective on Darden Restaurants from $90.00 to $84.00 and set a “market perform” rating for the company in a report on Wednesday, September 27th. Finally, Royal Bank of Canada dropped their target price on Darden Restaurants from $96.00 to $90.00 and set a “sector perform” rating for the company in a research report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $95.32.
Shares of Darden Restaurants (NYSE DRI) traded up $0.42 during midday trading on Wednesday, hitting $98.02. The stock had a trading volume of 1,076,331 shares, compared to its average volume of 1,725,388. Darden Restaurants has a 52 week low of $71.43 and a 52 week high of $100.11. The company has a quick ratio of 0.20, a current ratio of 0.34 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $12,056.90, a price-to-earnings ratio of 25.13, a price-to-earnings-growth ratio of 1.89 and a beta of 0.20.
In other Darden Restaurants news, CFO Ricardo Cardenas sold 10,783 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 20,046 shares in the company, valued at $1,947,869.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Douglas J. Milanes sold 4,300 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $97.05, for a total value of $417,315.00. Following the transaction, the senior vice president now directly owns 7,513 shares in the company, valued at $729,136.65. The disclosure for this sale can be found here. Insiders sold 74,866 shares of company stock valued at $7,252,094 in the last quarter. Corporate insiders own 0.63% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of DRI. HS Management Partners LLC purchased a new position in shares of Darden Restaurants during the third quarter valued at approximately $157,044,000. Janus Henderson Group PLC increased its stake in shares of Darden Restaurants by 113.6% during 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 buying an additional 838,341 shares during the period. APG Asset Management N.V. increased its stake in shares of Darden Restaurants by 34.4% during 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 buying an additional 604,364 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of Darden Restaurants by 66.8% during 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 buying an additional 510,969 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in shares of Darden Restaurants by 79.8% during the third quarter. Allianz Asset Management GmbH now owns 722,952 shares of the restaurant operator’s stock valued at $56,954,000 after buying an additional 320,902 shares during the period. 91.45% of the stock is currently owned by hedge funds and other institutional investors.
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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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