Darden Restaurants, Inc. (DRI) Earns “Hold” Rating from Robert W. Baird
Robert W. Baird reaffirmed their hold rating on shares of Darden Restaurants, Inc. (NYSE:DRI) in a report issued on Tuesday. Robert W. Baird currently has a $94.00 price target on the restaurant operator’s stock.
Other equities research analysts also recently issued reports about the company. Jefferies Group LLC increased their price objective on Darden Restaurants from $80.00 to $90.00 and gave the company a hold rating in a report on Wednesday, June 28th. J P Morgan Chase & Co reissued a neutral rating and issued a $93.00 price objective (up from $82.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Maxim Group reissued a hold rating and issued a $90.00 price objective on shares of Darden Restaurants in a report on Wednesday, June 21st. Royal Bank Of Canada increased their price objective on Darden Restaurants from $86.00 to $96.00 and gave the company a sector perform rating in a report on Wednesday, June 28th. Finally, Goldman Sachs Group, Inc. (The) reissued a neutral rating and issued a $87.00 price objective (up from $81.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $84.91.
Darden Restaurants (DRI) traded down 0.01% during trading on Tuesday, reaching $83.05. 653,382 shares of the company’s stock were exchanged. The stock has a market capitalization of $10.42 billion, a PE ratio of 21.84 and a beta of 0.27. The stock has a 50-day moving average of $82.69 and a 200-day moving average of $84.83. Darden Restaurants has a 52 week low of $60.16 and a 52 week high of $95.22.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Tuesday, June 27th. The restaurant operator reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.03. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.86 billion. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 earnings per share. On average, equities research analysts anticipate that Darden Restaurants will post $4.47 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.03%. Darden Restaurants’s dividend payout ratio is currently 66.14%.
In other news, insider Eugene I. Lee, Jr. sold 93,125 shares of the firm’s stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $91.58, for a total value of $8,528,387.50. Following the completion of the transaction, the insider now owns 165,062 shares in the company, valued at $15,116,377.96. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.63% of the company’s stock.
Several hedge funds have recently made changes to their positions in DRI. Russell Investments Group Ltd. increased its position in shares of Darden Restaurants by 7.5% in the first quarter. Russell Investments Group Ltd. now owns 85,754 shares of the restaurant operator’s stock valued at $7,176,000 after buying an additional 5,990 shares in the last quarter. Comerica Bank increased its position in shares of Darden Restaurants by 4.0% in the first quarter. Comerica Bank now owns 39,607 shares of the restaurant operator’s stock valued at $3,405,000 after buying an additional 1,509 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Darden Restaurants by 55.0% in the first quarter. UBS Asset Management Americas Inc. now owns 1,250,125 shares of the restaurant operator’s stock valued at $104,598,000 after buying an additional 443,669 shares in the last quarter. Sei Investments Co. increased its position in shares of Darden Restaurants by 241.6% in the first quarter. Sei Investments Co. now owns 11,992 shares of the restaurant operator’s stock valued at $1,004,000 after buying an additional 8,481 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new position in shares of Darden Restaurants in the first quarter valued at $226,000. Institutional investors and hedge funds own 88.65% of the company’s stock.
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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