Darden Restaurants (NYSE:DRI)‘s stock had its “market perform” rating reiterated by stock analysts at Wells Fargo & Co in a report released on Tuesday, January 9th, The Fly reports. They currently have a $99.00 target price on the restaurant operator’s stock, up from their prior target price of $92.00. Wells Fargo & Co’s price objective points to a potential upside of 2.88% from the stock’s previous close.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a report on Monday, January 8th. SunTrust Banks reissued a “hold” rating on shares of Darden Restaurants in a report on Thursday, December 21st. Argus raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and boosted their price target for the company from $95.67 to $108.00 in a report on Thursday, December 21st. Sanford C. Bernstein upped their price objective on shares of Darden Restaurants from $91.00 to $99.00 and gave the stock a “market perform” rating in a report on Wednesday, December 20th. Finally, Jefferies Group upped their price objective on shares of Darden Restaurants from $82.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $96.22.
Shares of Darden Restaurants (DRI) opened at $96.23 on Tuesday. 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 cap of $11,864.19, a price-to-earnings ratio of 22.76, a P/E/G ratio of 1.86 and a beta of 0.16. Darden Restaurants has a 12 month low of $71.68 and a 12 month high of $100.11.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.03. Darden Restaurants had a net margin of 6.46% and a return on equity of 26.24%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.85 billion. analysts expect that Darden Restaurants will post 4.76 EPS for the current year.
In related 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 of the company’s stock, valued at approximately $1,947,869.82. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Eugene I. Lee, Jr. sold 59,783 shares of the business’s stock in a transaction that occurred 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 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. Insiders sold a total of 74,866 shares of company stock worth $7,252,094 in the last quarter. 0.63% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Darden Restaurants by 2.7% during the second quarter. BlackRock Inc. now owns 11,779,249 shares of the restaurant operator’s stock worth $1,065,316,000 after purchasing an additional 314,996 shares during the period. State Street Corp boosted its position in Darden Restaurants by 0.3% during the second quarter. State Street Corp now owns 5,479,782 shares of the restaurant operator’s stock worth $495,583,000 after purchasing an additional 14,883 shares during the period. Wells Fargo & Company MN boosted its position in Darden Restaurants by 2.2% during the third quarter. Wells Fargo & Company MN now owns 3,317,326 shares of the restaurant operator’s stock worth $261,339,000 after purchasing an additional 72,824 shares during the period. APG Asset Management N.V. boosted its position in 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 worth $186,056,000 after purchasing an additional 604,364 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Darden Restaurants by 1,963.6% during the fourth quarter. Victory Capital Management Inc. now owns 2,067,552 shares of the restaurant operator’s stock worth $198,526,000 after purchasing an additional 1,967,362 shares during the period. 90.49% of the stock is 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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