Darden Restaurants Inc. (DRI) Receives “Sell” Rating from Bank of America Corp.
Darden Restaurants Inc. (NYSE:DRI)‘s stock had its “sell” rating restated by stock analysts at Bank of America Corp. in a research note issued on Wednesday.
DRI has been the subject of a number of other research reports. Jefferies Group reiterated a “hold” rating and issued a $64.00 price target (down previously from $66.00) on shares of Darden Restaurants in a research note on Saturday, July 2nd. Zacks Investment Research cut shares of Darden Restaurants from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. BMO Capital Markets reiterated a “hold” rating and issued a $64.00 price target on shares of Darden Restaurants in a research note on Thursday, September 1st. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $76.00 price target on shares of Darden Restaurants in a research note on Thursday, August 25th. Finally, BTIG Research reiterated a “buy” rating and issued a $75.00 price target on shares of Darden Restaurants in a research note on Friday, July 1st. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. Darden Restaurants presently has an average rating of “Hold” and a consensus target price of $69.89.
Darden Restaurants (NYSE:DRI) traded up 1.12% on Wednesday, hitting $61.63. 1,607,093 shares of the stock traded hands. The firm’s 50 day moving average is $61.89 and its 200 day moving average is $63.77. The stock has a market cap of $7.70 billion, a price-to-earnings ratio of 19.90 and a beta of 0.41. Darden Restaurants has a 52 week low of $53.38 and a 52 week high of $68.68.
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Darden Restaurants (NYSE:DRI) last released its earnings results on Tuesday, October 4th. The restaurant operator reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.06. The business earned $1.71 billion during the quarter. Darden Restaurants had a net margin of 5.73% and a return on equity of 24.97%. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. Equities analysts anticipate that Darden Restaurants will post $3.92 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Wednesday, October 5th. Darden Restaurants’s payout ratio is 72.03%.
Large investors have recently bought and sold shares of the company. CENTRAL TRUST Co raised its stake in Darden Restaurants by 16.5% in the second quarter. CENTRAL TRUST Co now owns 1,799 shares of the restaurant operator’s stock worth $114,000 after buying an additional 255 shares during the last quarter. Krilogy Financial LLC raised its stake in Darden Restaurants by 1.6% in the second quarter. Krilogy Financial LLC now owns 2,133 shares of the restaurant operator’s stock worth $135,000 after buying an additional 33 shares during the last quarter. Pacer Advisors Inc. raised its stake in Darden Restaurants by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,369 shares of the restaurant operator’s stock worth $150,000 after buying an additional 195 shares during the last quarter. M&R Capital Management Inc. acquired a new stake in Darden Restaurants during the second quarter worth $158,000. Finally, Citizens Financial Group Inc RI raised its stake in Darden Restaurants by 320.0% in the first quarter. Citizens Financial Group Inc RI now owns 2,520 shares of the restaurant operator’s stock worth $167,000 after buying an additional 1,920 shares during the last quarter. 94.57% of the stock is currently owned by hedge funds and other institutional investors.
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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