Darden Restaurants, Inc. (DRI) Receives $96.22 Consensus PT from Analysts
Darden Restaurants, Inc. (NYSE:DRI) has earned an average rating of “Hold” from the twenty-eight brokerages that are covering the stock, MarketBeat Ratings reports. One 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 company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $96.22.
DRI has been the topic of several recent research reports. Longbow Research initiated coverage on shares of Darden Restaurants in a report on Friday, October 13th. They issued a “neutral” rating on the stock. Argus downgraded shares of Darden Restaurants from a “buy” rating to a “hold” rating and set a $88.00 price objective on the stock. in a report on Tuesday, October 17th. Zacks Investment Research downgraded shares of Darden Restaurants from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. BMO Capital Markets set a $80.00 price target on shares of Darden Restaurants and gave the stock a “hold” rating in a report on Thursday, October 19th. Finally, SunTrust Banks set a $94.00 price target on shares of Darden Restaurants and gave the stock a “hold” rating in a report on Monday, December 11th.
Darden Restaurants (DRI) traded up $2.14 during mid-day trading on Friday, hitting $98.18. 192,412 shares of the stock traded hands, compared to its average volume of 1,304,475. The stock has a market cap of $11,864.19, a P/E ratio of 22.76, a P/E/G ratio of 1.86 and a beta of 0.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.34 and a quick ratio of 0.20. Darden Restaurants has a fifty-two week low of $71.68 and a fifty-two week high of $100.11.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date was Tuesday, January 9th. Darden Restaurants’s dividend payout ratio is presently 64.62%.
In other Darden Restaurants news, SVP Douglas J. Milanes sold 4,300 shares of the company’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $97.05, for a total transaction of $417,315.00. Following the completion of the transaction, the senior vice president now directly owns 7,513 shares in the company, valued at $729,136.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eugene I. Lee, Jr. sold 59,783 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 164,396 shares of the company’s stock, valued at $15,913,532.80. The disclosure for this sale can be found here. Insiders have sold 74,866 shares of company stock valued at $7,252,094 over the last 90 days. 0.63% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. M&R Capital Management Inc. acquired a new stake in shares of Darden Restaurants in the second quarter valued at about $108,000. D.A. Davidson & CO. raised its position in shares of Darden Restaurants by 1.7% in the second quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock valued at $114,000 after buying an additional 21 shares during the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Darden Restaurants in the third quarter valued at about $115,000. Cerebellum GP LLC acquired a new stake in shares of Darden Restaurants in the fourth quarter valued at about $126,000. Finally, Grove Bank & Trust raised its position in shares of Darden Restaurants by 155.6% in the third quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock valued at $145,000 after buying an additional 1,120 shares during the last quarter. Institutional investors and hedge funds own 90.49% 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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