Darden Restaurants Inc. (NYSE:DRI) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Darden Restaurants Inc. (NYSE:DRI) have earned a consensus recommendation of “Hold” from the twenty-three brokerages that are presently covering the firm. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $70.71.
Several analysts have recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Darden Restaurants in a report on Thursday, May 26th. They issued a “market perform” rating on the stock. Zacks Investment Research raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Wednesday, June 15th. Tigress Financial raised shares of Darden Restaurants from a “neutral” rating to a “buy” rating in a report on Thursday, June 23rd. Wells Fargo & Co. reaffirmed an “outperform” rating and issued a $79.00 target price (up previously from $74.00) on shares of Darden Restaurants in a report on Monday, June 27th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Darden Restaurants in a report on Tuesday, June 28th.
In related news, Director James P. Fogarty purchased 3,000 shares of the company’s stock in a transaction that occurred on Thursday, July 7th. The stock was purchased at an average price of $61.70 per share, with a total value of $185,100.00. Following the completion of the transaction, the director now owns 7,890 shares of the company’s stock, valued at approximately $486,813. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.68% of the company’s stock.
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A number of institutional investors have recently modified their holdings of the company. Trust Co. of Toledo NA OH raised its position in shares of Darden Restaurants by 2.0% in the second quarter. Trust Co. of Toledo NA OH now owns 23,271 shares of the restaurant operator’s stock valued at $1,474,000 after buying an additional 451 shares during the period. First Manhattan Co. increased its stake in Darden Restaurants by 62.4% in the second quarter. First Manhattan Co. now owns 2,679 shares of the restaurant operator’s stock valued at $169,000 after buying an additional 1,029 shares in the last quarter. Aviva PLC increased its stake in Darden Restaurants by 0.7% in the first quarter. Aviva PLC now owns 138,386 shares of the restaurant operator’s stock valued at $9,175,000 after buying an additional 1,025 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its stake in Darden Restaurants by 5.1% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 29,523 shares of the restaurant operator’s stock valued at $1,870,000 after buying an additional 1,423 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Darden Restaurants by 10.6% in the first quarter. Geode Capital Management LLC now owns 1,042,277 shares of the restaurant operator’s stock valued at $68,977,000 after buying an additional 99,531 shares in the last quarter. 94.57% of the stock is owned by hedge funds and other institutional investors.
Shares of Darden Restaurants (NYSE:DRI) traded up 0.72% on Wednesday, hitting $61.92. The stock had a trading volume of 444,411 shares. The company has a market cap of $7.82 billion, a P/E ratio of 21.37 and a beta of 0.52. Darden Restaurants has a 52-week low of $53.38 and a 52-week high of $72.11. The company has a 50-day moving average of $62.00 and a 200-day moving average of $64.21.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, June 30th. The restaurant operator reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.02. The company had revenue of $1.79 billion for the quarter. Darden Restaurants had a net margin of 5.41% and a return on equity of 21.95%. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.01 earnings per share. On average, equities analysts anticipate that Darden Restaurants will post $3.87 EPS for the current fiscal year.
Darden Restaurants Company Profile
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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