Darden Restaurants (DRI) Given a $101.00 Price Target at BMO Capital Markets

BMO Capital Markets set a $101.00 target price on Darden Restaurants (NYSE:DRI) in a report published on Tuesday. The brokerage currently has a hold rating on the restaurant operator’s stock.

A number of other analysts have also issued reports on DRI. Robert W. Baird reissued an outperform rating and issued a $104.00 price target (up from $94.00) on shares of Darden Restaurants in a research note on Wednesday. Maxim Group reissued a buy rating and issued a $103.00 price target (up from $93.00) on shares of Darden Restaurants in a research note on Wednesday. Credit Suisse Group reissued a market perform rating and issued a $90.00 price target (up from $82.00) on shares of Darden Restaurants in a research note on Wednesday. They noted that the move was a valuation call. Canaccord Genuity reissued a buy rating and issued a $97.00 price target on shares of Darden Restaurants in a research note on Wednesday, September 27th. Finally, Morgan Stanley reissued an equal weight rating and issued a $88.00 price target (down from $93.00) on shares of Darden Restaurants in a research note on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company. Darden Restaurants currently has a consensus rating of Hold and a consensus price target of $91.83.

Shares of Darden Restaurants (DRI) traded up $6.15 during trading hours on Tuesday, reaching $96.69. The company’s stock had a trading volume of 4,835,000 shares, compared to its average volume of 1,626,779. The company has a current ratio of 0.38, a quick ratio of 0.24 and a debt-to-equity ratio of 0.45. Darden Restaurants has a 12-month low of $71.01 and a 12-month high of $96.74. The firm has a market cap of $11,880.00, a price-to-earnings ratio of 21.92, a price-to-earnings-growth ratio of 1.98 and a beta of 0.22.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.99. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period last year, the company earned $0.88 EPS. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. equities analysts predict that Darden Restaurants will post 4.44 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.61%. Darden Restaurants’s dividend payout ratio (DPR) is 63.48%.

Several institutional investors have recently added to or reduced their stakes in DRI. HS Management Partners LLC purchased a new stake in shares of Darden Restaurants during the 3rd quarter valued at about $157,044,000. Janus Henderson Group PLC raised its holdings in shares of Darden Restaurants by 113.6% during the 3rd quarter. Janus Henderson Group PLC now owns 1,576,026 shares of the restaurant operator’s stock valued at $124,158,000 after buying an additional 838,341 shares during the period. APG Asset Management N.V. raised its holdings in shares of Darden Restaurants by 34.4% during the 3rd quarter. APG Asset Management N.V. now owns 2,361,712 shares of the restaurant operator’s stock valued at $186,056,000 after buying an additional 604,364 shares during the period. Robeco Institutional Asset Management B.V. raised its holdings in shares of Darden Restaurants by 66.8% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,275,399 shares of the restaurant operator’s stock valued at $115,348,000 after buying an additional 510,969 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of Darden Restaurants by 79.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 722,952 shares of the restaurant operator’s stock valued at $56,954,000 after buying an additional 320,902 shares during the period. Institutional investors own 91.45% of the company’s stock.

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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).

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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