Darden Restaurants, Inc. (DRI) Upgraded at BidaskClub
Darden Restaurants, Inc. (NYSE:DRI) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Several other research firms also recently commented on DRI. Jefferies Group LLC raised their price objective on Darden Restaurants from $80.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $87.00 price objective (up from $81.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Stephens restated an “equal weight” rating and set a $85.00 price objective on shares of Darden Restaurants in a report on Wednesday, June 28th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $100.00 price objective (up from $85.00) on shares of Darden Restaurants in a report on Wednesday, June 28th. Finally, Royal Bank Of Canada raised their price objective on Darden Restaurants from $86.00 to $96.00 and gave the stock a “sector perform” rating in a report on Wednesday, June 28th. Two equities research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $84.78.
Shares of Darden Restaurants (NYSE DRI) traded down 0.17% during trading on Friday, hitting $83.99. The company had a trading volume of 1,658,214 shares. Darden Restaurants has a 52 week low of $60.16 and a 52 week high of $95.22. The stock has a market capitalization of $10.53 billion, a P/E ratio of 22.09 and a beta of 0.27. The firm’s 50 day moving average is $86.34 and its 200-day moving average is $83.54.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.15 by $0.03. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the business posted $1.10 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Equities research analysts anticipate that Darden Restaurants will post $4.47 EPS for the current fiscal year.
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 sale, the insider now owns 165,062 shares of the company’s stock, valued at approximately $15,116,377.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.63% of the stock is owned by company insiders.
A number of hedge funds have recently modified their holdings of DRI. Toronto Dominion Bank boosted its stake in shares of Darden Restaurants by 26.0% in the second quarter. Toronto Dominion Bank now owns 42,119 shares of the restaurant operator’s stock worth $3,808,000 after buying an additional 8,694 shares in the last quarter. Archford Capital Strategies LLC boosted its stake in shares of Darden Restaurants by 9,550.4% in the second quarter. Archford Capital Strategies LLC now owns 12,449 shares of the restaurant operator’s stock worth $731,000 after buying an additional 12,320 shares in the last quarter. Cetera Investment Advisers purchased a new stake in shares of Darden Restaurants during the second quarter worth approximately $349,000. Public Employees Retirement System of Ohio boosted its stake in shares of Darden Restaurants by 3.2% in the second quarter. Public Employees Retirement System of Ohio now owns 54,341 shares of the restaurant operator’s stock worth $4,915,000 after buying an additional 1,706 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Darden Restaurants during the second quarter worth approximately $527,000. 95.49% of the stock is owned by institutional investors.
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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