Darden Restaurants (NYSE:DRI) had its target price decreased by equities researchers at Deutsche Bank from $99.00 to $96.00 in a report released on Friday. The brokerage presently has a “hold” rating on the restaurant operator’s stock. Deutsche Bank’s price target would suggest a potential upside of 12.24% from the stock’s current price.
DRI has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research note on Thursday, December 14th. Credit Suisse Group reaffirmed a “hold” rating and issued a $95.00 target price on shares of Darden Restaurants in a report on Friday, January 12th. SunTrust Banks set a $94.00 target price on shares of Darden Restaurants and gave the company a “hold” rating in a report on Monday, December 11th. BMO Capital Markets set a $101.00 target price on shares of Darden Restaurants and gave the company a “hold” rating in a report on Tuesday, December 19th. Finally, Sanford C. Bernstein lifted their target price on shares of Darden Restaurants from $91.00 to $99.00 and gave the company a “market perform” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have assigned a buy rating to the stock. Darden Restaurants presently has an average rating of “Hold” and a consensus target price of $97.52.
Darden Restaurants (DRI) traded down $0.41 during midday trading on Friday, reaching $85.53. 477,430 shares of the company’s stock were exchanged, compared to its average volume of 1,558,097. The company has a current ratio of 0.34, a quick ratio of 0.20 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $11,526.94, a price-to-earnings ratio of 21.93, a PEG ratio of 1.77 and a beta of 0.22. Darden Restaurants has a one year low of $75.20 and a one year high of $100.11.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Tuesday, December 19th. The restaurant operator reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. The company had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.85 billion. Darden Restaurants had a net margin of 6.46% and a return on equity of 26.24%. research analysts anticipate that Darden Restaurants will post 4.76 EPS for the current year.
In other Darden Restaurants news, CFO Ricardo Cardenas sold 10,783 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $97.17, for a total value of $1,047,784.11. Following 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eugene I. Lee, Jr. sold 59,783 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $96.80, for a total transaction of $5,786,994.40. Following the completion of the sale, 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. In the last three months, insiders have sold 74,866 shares of company stock worth $7,252,094. 0.63% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Rodgers Brothers Inc. lifted its holdings in shares of Darden Restaurants by 16.1% in the fourth quarter. Rodgers Brothers Inc. now owns 3,975 shares of the restaurant operator’s stock valued at $382,000 after purchasing an additional 550 shares in the last quarter. Mutual of America Capital Management LLC increased its position in Darden Restaurants by 4.1% during the fourth quarter. Mutual of America Capital Management LLC now owns 16,144 shares of the restaurant operator’s stock worth $1,550,000 after purchasing an additional 636 shares during the last quarter. Juncture Wealth Strategies LLC increased its position in Darden Restaurants by 7.7% during the fourth quarter. Juncture Wealth Strategies LLC now owns 9,800 shares of the restaurant operator’s stock worth $941,000 after purchasing an additional 700 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Darden Restaurants by 3.4% during the third quarter. Envestnet Asset Management Inc. now owns 21,507 shares of the restaurant operator’s stock worth $1,695,000 after purchasing an additional 715 shares during the last quarter. Finally, Profund Advisors LLC increased its position in Darden Restaurants by 20.2% during the fourth quarter. Profund Advisors LLC now owns 4,316 shares of the restaurant operator’s stock worth $414,000 after purchasing an additional 724 shares during the last quarter. 90.44% of the stock is currently owned by institutional investors.
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Darden Restaurants Company Profile
Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of June 27, 2017, it owned and operated approximately 1,700 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, and Eddie V's brands.
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