Darden Restaurants (NYSE:DRI) had its price objective boosted by Canaccord Genuity from $115.00 to $120.00 in a report released on Friday. The brokerage currently has a buy rating on the restaurant operator’s stock.
A number of other research analysts have also recently commented on the stock. Bank of America raised shares of Darden Restaurants from an underperform rating to a neutral rating and increased their target price for the stock from $88.00 to $108.00 in a report on Friday. Stifel Nicolaus increased their target price on shares of Darden Restaurants to $115.00 and gave the stock a buy rating in a report on Thursday, June 21st. Zacks Investment Research cut shares of Darden Restaurants from a buy rating to a hold rating in a report on Monday, June 11th. SunTrust Banks raised shares of Darden Restaurants from a hold rating to a buy rating and increased their target price for the stock from $104.00 to $110.00 in a report on Wednesday, June 6th. Finally, ValuEngine raised shares of Darden Restaurants from a sell rating to a hold rating in a report on Tuesday, May 29th. Twelve analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Darden Restaurants presently has an average rating of Buy and a consensus target price of $104.30.
Darden Restaurants opened at $107.30 on Friday, MarketBeat reports. The stock has a market capitalization of $13.45 billion, a PE ratio of 22.31, a P/E/G ratio of 1.82 and a beta of 0.20. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.40 and a quick ratio of 0.25. Darden Restaurants has a 12 month low of $76.27 and a 12 month high of $109.53.
Darden Restaurants (NYSE:DRI) last posted its earnings results on Thursday, June 21st. The restaurant operator reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.04. The firm had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Darden Restaurants had a net margin of 7.38% and a return on equity of 29.02%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.99 earnings per share. analysts anticipate that Darden Restaurants will post 5.48 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 1st. Shareholders of record on Tuesday, July 10th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 2.80%. This is an increase from Darden Restaurants’s previous quarterly dividend of $0.63. Darden Restaurants’s dividend payout ratio is currently 52.39%.
A number of large investors have recently added to or reduced their stakes in the business. Rodgers Brothers Inc. increased its position in Darden Restaurants by 16.1% during the 4th 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 during the period. Jacobi Capital Management LLC increased its position in Darden Restaurants by 79.3% during the 1st quarter. Jacobi Capital Management LLC now owns 1,585 shares of the restaurant operator’s stock valued at $133,000 after purchasing an additional 701 shares during the period. Profund Advisors LLC increased its position in Darden Restaurants by 20.2% during the 4th quarter. Profund Advisors LLC now owns 4,316 shares of the restaurant operator’s stock valued at $414,000 after purchasing an additional 724 shares during the period. BDO Wealth Advisors LLC increased its position in Darden Restaurants by 6.5% during the 1st quarter. BDO Wealth Advisors LLC now owns 13,131 shares of the restaurant operator’s stock valued at $1,119,000 after purchasing an additional 806 shares during the period. Finally, Franklin Resources Inc. increased its position in Darden Restaurants by 4.9% during the 4th quarter. Franklin Resources Inc. now owns 17,731 shares of the restaurant operator’s stock valued at $1,703,000 after purchasing an additional 832 shares during the period. 89.15% of the stock is owned by institutional investors and hedge funds.
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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