Darden Restaurants (DRI) Receives “Overweight” Rating from Barclays

Barclays reissued their overweight rating on shares of Darden Restaurants (NYSE:DRI) in a research note released on Tuesday morning. The firm currently has a $116.00 target price on the restaurant operator’s stock, up from their prior target price of $108.00.

DRI has been the topic of several other reports. Wells Fargo & Co restated a market perform rating and issued a $99.00 price objective (up from $92.00) on shares of Darden Restaurants in a research report on Tuesday, January 9th. Canaccord Genuity restated a buy rating and issued a $97.00 price objective on shares of Darden Restaurants in a research report on Wednesday, September 27th. Morgan Stanley restated an equal weight rating and issued a $88.00 price objective (down from $93.00) on shares of Darden Restaurants in a research report on Wednesday, September 27th. BMO Capital Markets restated a market perform rating and issued a $85.00 price objective (down from $87.00) on shares of Darden Restaurants in a research report on Wednesday, September 27th. Finally, Royal Bank of Canada decreased their price objective on shares of Darden Restaurants from $96.00 to $90.00 and set a sector perform rating on the stock in a research report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $96.22.

Shares of Darden Restaurants (NYSE DRI) traded up $0.72 on Tuesday, hitting $97.46. The stock had a trading volume of 1,210,000 shares, compared to its average volume of 1,810,000. Darden Restaurants has a 12-month low of $71.43 and a 12-month high of $100.11. The company has a market capitalization of $12,050.00, a PE ratio of 24.55, a PEG ratio of 1.90 and a beta of 0.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.20 and a current ratio of 0.34.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. Darden Restaurants had a return on equity of 26.24% and a net margin of 6.46%. equities analysts expect that Darden Restaurants will post 4.76 earnings per share for the current year.

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. This represents a $2.52 annualized dividend and a yield of 2.59%. The ex-dividend date is Tuesday, January 9th. Darden Restaurants’s dividend payout ratio is currently 63.48%.

In other Darden Restaurants news, CFO Ricardo Cardenas sold 10,783 shares of the company’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 of the company’s stock, valued at $1,947,869.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Eugene I. Lee, Jr. sold 59,783 shares of the company’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $96.80, for a total value of $5,786,994.40. Following the completion of the sale, the insider now directly owns 164,396 shares of the company’s stock, valued at approximately $15,913,532.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 74,866 shares of company stock valued at $7,252,094. 0.63% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. D.A. Davidson & CO. boosted its stake in shares of Darden Restaurants by 1.7% during the second quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock valued at $114,000 after purchasing an additional 21 shares during the period. Argent Capital Management LLC boosted its stake in shares of Darden Restaurants by 2.0% during the second quarter. Argent Capital Management LLC now owns 5,125 shares of the restaurant operator’s stock valued at $464,000 after purchasing an additional 100 shares during the period. Hall Capital Management Co. Inc. boosted its stake in shares of Darden Restaurants by 1.9% during the second quarter. Hall Capital Management Co. Inc. now owns 15,927 shares of the restaurant operator’s stock valued at $1,440,000 after purchasing an additional 297 shares during the period. People s United Financial Inc. boosted its stake in shares of Darden Restaurants by 1.6% during the second quarter. People s United Financial Inc. now owns 21,169 shares of the restaurant operator’s stock valued at $1,915,000 after purchasing an additional 332 shares during the period. Finally, Thrivent Financial For Lutherans boosted its stake in shares of Darden Restaurants by 7.7% during the second quarter. Thrivent Financial For Lutherans now owns 5,456 shares of the restaurant operator’s stock valued at $494,000 after purchasing an additional 389 shares during the period. 91.83% of the stock is owned by institutional investors and hedge funds.

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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).

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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