Darden Restaurants (NYSE:DRI) received a $99.00 price target from stock analysts at BMO Capital Markets in a research note issued on Friday, January 12th. The firm currently has a “hold” rating on the restaurant operator’s stock. BMO Capital Markets’ price objective suggests a potential upside of 3.08% from the stock’s previous close.
Several other brokerages have also recently weighed in on DRI. Oppenheimer reissued a “buy” rating and set a $100.00 price objective on shares of Darden Restaurants in a research note on Wednesday, September 20th. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $94.00 price objective on the stock in a research note on Friday, September 22nd. Maxim Group raised Darden Restaurants from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $90.00 to $93.00 in a research note on Wednesday, September 27th. Canaccord Genuity restated a “buy” rating and set a $97.00 target price on shares of Darden Restaurants in a research report on Wednesday, September 27th. Finally, Citigroup dropped their target price on Darden Restaurants from $105.00 to $90.00 and set a “buy” rating for the company in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $96.22.
Shares of Darden Restaurants (DRI) traded down $1.47 during trading hours on Friday, hitting $96.04. The stock had a trading volume of 1,700,000 shares, compared to its average volume of 1,380,000. The company has a market cap of $11,860.00, a price-to-earnings ratio of 24.19, a P/E/G ratio of 1.86 and a beta of 0.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.34 and a quick ratio of 0.20. Darden Restaurants has a 12-month low of $71.62 and a 12-month high of $100.11.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Darden Restaurants had a return on equity of 26.24% and a net margin of 6.46%. analysts forecast that Darden Restaurants will post 4.76 earnings per share for the current fiscal year.
In other news, SVP Douglas J. Milanes sold 4,300 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $97.05, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eugene I. Lee, Jr. sold 59,783 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $96.80, for a total transaction of $5,786,994.40. Following the transaction, the insider now owns 164,396 shares in the company, valued at $15,913,532.80. The disclosure for this sale can be found here. Insiders have sold a total of 74,866 shares of company stock worth $7,252,094 over the last quarter. 0.63% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its holdings in shares of Darden Restaurants by 29.2% in the fourth quarter. American Century Companies Inc. now owns 1,689,176 shares of the restaurant operator’s stock valued at $162,195,000 after purchasing an additional 381,677 shares in the last quarter. Public Employees Retirement Association of Colorado raised its position in shares of Darden Restaurants by 3.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 24,797 shares of the restaurant operator’s stock valued at $2,381,000 after buying an additional 793 shares during the last quarter. Checchi Capital Advisers LLC acquired a new position in shares of Darden Restaurants in the fourth quarter valued at approximately $232,000. Aperio Group LLC raised its position in shares of Darden Restaurants by 7.6% in the fourth quarter. Aperio Group LLC now owns 179,421 shares of the restaurant operator’s stock valued at $17,228,000 after buying an additional 12,701 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Darden Restaurants by 1,963.6% in the fourth quarter. Victory Capital Management Inc. now owns 2,067,552 shares of the restaurant operator’s stock valued at $198,526,000 after buying an additional 1,967,362 shares during the last quarter. 91.55% 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).
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