Darden Restaurants’ (DRI) “Overweight” Rating Reiterated at Barclays
Darden Restaurants (NYSE:DRI)‘s stock had its “overweight” rating reiterated by equities research analysts at Barclays in a report released on Tuesday, Marketbeat.com reports. They currently have a $116.00 price objective on the restaurant operator’s stock, up from their previous price objective of $108.00. Barclays’ target price indicates a potential upside of 19.91% from the stock’s current price.
A number of other research firms have also recently commented on DRI. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $111.00 price target for the company in a report on Monday, January 8th. Wells Fargo & Co reissued a “market perform” rating and set a $99.00 price target (up previously from $92.00) on shares of Darden Restaurants in a report on Tuesday, January 9th. Maxim Group reissued a “buy” rating and set a $112.00 price target (up previously from $103.00) on shares of Darden Restaurants in a report on Tuesday, January 9th. Credit Suisse Group reissued a “hold” rating and set a $95.00 price target on shares of Darden Restaurants in a report on Friday, January 12th. Finally, BMO Capital Markets set a $99.00 price target on Darden Restaurants and gave the stock a “hold” rating in a report on Friday, January 12th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $96.22.
Darden Restaurants (NYSE DRI) traded down $1.28 during trading on Tuesday, hitting $96.74. The stock had a trading volume of 1,565,500 shares, compared to its average volume of 1,612,290. 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 12 month low of $71.43 and a 12 month high of $100.11. The firm has a market cap of $12,100.00, a PE ratio of 24.37, a P/E/G ratio of 1.90 and a beta of 0.20.
In other Darden Restaurants news, insider Eugene I. Lee, Jr. sold 59,783 shares of the company’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $96.80, for a total value of $5,786,994.40. Following the sale, the insider now owns 164,396 shares in the company, valued at approximately $15,913,532.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Douglas J. Milanes sold 4,300 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $97.05, for a total value of $417,315.00. Following the completion of the sale, the senior vice president now owns 7,513 shares in the company, valued at approximately $729,136.65. The disclosure for this sale can be found here. Insiders have sold a total of 74,866 shares of company stock worth $7,252,094 in the last 90 days. 0.63% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in DRI. M&R Capital Management Inc. bought a new stake in shares of Darden Restaurants in the 2nd quarter valued at about $108,000. D.A. Davidson & CO. grew its position in shares of Darden Restaurants by 1.7% in the 2nd 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 bought a new stake in shares of Darden Restaurants in the 3rd quarter valued at about $115,000. Grove Bank & Trust grew its position in shares of Darden Restaurants by 155.6% in the 3rd 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. Finally, Campbell & CO Investment Adviser LLC bought a new stake in shares of Darden Restaurants in the 3rd quarter valued at about $208,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.
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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