Darden Restaurants, Inc. (NYSE:DRI)‘s stock had its “hold” rating reiterated by equities researchers at Maxim Group in a research report issued on Thursday. They currently have a $90.00 price objective on the restaurant operator’s stock. Maxim Group’s price objective would indicate a potential upside of 8.36% from the stock’s current price.
Several other equities research analysts have also commented on the company. ValuEngine raised Darden Restaurants from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Bank of America Corporation set a $80.00 price target on Darden Restaurants and gave the stock a “buy” rating in a research note on Monday, June 26th. Raymond James Financial, Inc. reissued a “market perform” rating on shares of Darden Restaurants in a research note on Monday, July 24th. Oppenheimer Holdings, Inc. boosted their price target on Darden Restaurants in a research note on Monday, June 26th. Finally, Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have assigned a buy rating to the company’s stock. Darden Restaurants currently has an average rating of “Hold” and an average price target of $84.91.
Shares of Darden Restaurants (NYSE DRI) traded down 0.40% during trading on Thursday, hitting $82.73. The company’s stock had a trading volume of 1,133,374 shares. Darden Restaurants has a one year low of $60.16 and a one year high of $95.22. The company has a 50-day moving average price of $82.69 and a 200-day moving average price of $84.83. The stock has a market cap of $10.38 billion, a PE ratio of 21.75 and a beta of 0.27.
Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.03. The business had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.86 billion. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.10 EPS. Equities analysts predict that Darden Restaurants will post $4.47 EPS for the current fiscal year.
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In other news, insider Eugene I. Lee, Jr. sold 93,125 shares of the business’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $91.58, for a total transaction of $8,528,387.50. Following the completion of the sale, the insider now directly owns 165,062 shares of the company’s stock, valued at approximately $15,116,377.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.63% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Darden Restaurants by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 14,211,162 shares of the restaurant operator’s stock valued at $1,189,048,000 after buying an additional 487,366 shares during the period. BlackRock Inc. grew its stake in shares of Darden Restaurants by 2.7% during the 2nd quarter. BlackRock Inc. now owns 11,779,249 shares of the restaurant operator’s stock valued at $1,065,316,000 after buying an additional 314,996 shares during the period. American International Group Inc. grew its stake in shares of Darden Restaurants by 1.3% during the 1st quarter. American International Group Inc. now owns 6,198,698 shares of the restaurant operator’s stock valued at $518,645,000 after buying an additional 77,248 shares during the period. State Street Corp grew its stake in shares of Darden Restaurants by 0.3% during the 2nd quarter. State Street Corp now owns 5,479,782 shares of the restaurant operator’s stock valued at $495,583,000 after buying an additional 14,883 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Darden Restaurants by 0.5% during the 2nd quarter. Wells Fargo & Company MN now owns 3,244,502 shares of the restaurant operator’s stock valued at $293,433,000 after buying an additional 15,194 shares during the period. 88.65% 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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