Equities researchers at Mizuho began coverage on shares of Darden Restaurants (NYSE:DRI) in a research report issued on Thursday, March 15th, Marketbeat Ratings reports. The firm set a “buy” rating and a $105.00 price target on the restaurant operator’s stock. Mizuho’s price objective indicates a potential upside of 20.88% from the company’s previous close.
Several other research firms have also weighed in on DRI. SunTrust Banks set a $94.00 target price on Darden Restaurants and gave the stock a “hold” rating in a report on Monday, December 11th. Zacks Investment Research lowered Darden Restaurants from a “buy” rating to a “hold” rating in a report on Monday, December 18th. Maxim Group reiterated a “buy” rating and set a $112.00 target price (up from $103.00) on shares of Darden Restaurants in a report on Tuesday, January 9th. Credit Suisse Group reiterated a “hold” rating and set a $95.00 target price on shares of Darden Restaurants in a report on Friday, January 12th. Finally, Jefferies Group lifted their target price on 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, thirteen have given a hold rating and fourteen have given a buy rating to the company. Darden Restaurants presently has an average rating of “Hold” and an average price target of $98.43.
Shares of Darden Restaurants stock traded up $0.19 during trading on Thursday, reaching $86.86. 1,757,619 shares of the company were exchanged, compared to its average volume of 1,861,568. The company has a quick ratio of 0.25, a current ratio of 0.39 and a debt-to-equity ratio of 0.44. Darden Restaurants has a twelve month low of $76.27 and a twelve month high of $100.11. The stock has a market cap of $10,706.67, a PE ratio of 21.61, a price-to-earnings-growth ratio of 1.66 and a beta of 0.23.
Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Thursday, March 22nd. The restaurant operator reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.07. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Darden Restaurants had a return on equity of 28.12% and a net margin of 6.92%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.32 earnings per share. analysts expect that Darden Restaurants will post 4.77 EPS for the current fiscal year.
In related news, insider Eugene I. Lee, Jr. sold 59,783 shares of the company’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 sale, the insider now owns 164,396 shares in the company, valued at $15,913,532.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Douglas J. Milanes sold 4,300 shares of the company’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $97.05, for a total value of $417,315.00. Following the sale, the senior vice president now owns 7,513 shares in the company, valued at approximately $729,136.65. The disclosure for this sale can be found here. Insiders have sold 74,866 shares of company stock worth $7,252,094 in the last quarter. 0.63% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in DRI. HS Management Partners LLC acquired a new position in Darden Restaurants during the third quarter worth approximately $157,044,000. Victory Capital Management Inc. increased 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 buying an additional 1,967,362 shares during the last quarter. Janus Henderson Group PLC increased its position in 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 worth $124,158,000 after buying an additional 838,341 shares during the last quarter. American Century Companies Inc. increased its position in Darden Restaurants by 29.2% during the fourth quarter. American Century Companies Inc. now owns 1,689,176 shares of the restaurant operator’s stock worth $162,195,000 after buying an additional 381,677 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its position in Darden Restaurants by 79.8% during the third quarter. Allianz Asset Management GmbH now owns 722,952 shares of the restaurant operator’s stock worth $56,954,000 after buying an additional 320,902 shares during the last quarter. Institutional investors and hedge funds own 90.49% of the company’s stock.
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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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