Darden Restaurants, Inc. (NYSE:DRI) has earned a consensus recommendation of “Hold” from the twenty-seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, seventeen have given a hold rating and nine have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $87.40.
Several research firms have weighed in on DRI. Zacks Investment Research lowered Darden Restaurants from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. BidaskClub lowered Darden Restaurants from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of Darden Restaurants in a research note on Monday, July 24th. Robert W. Baird reiterated a “hold” rating and issued a $94.00 price objective on shares of Darden Restaurants in a research note on Tuesday, September 19th. Finally, Oppenheimer Holdings Inc. reiterated a “buy” rating and issued a $100.00 price objective on shares of Darden Restaurants in a research note on Wednesday, September 20th.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Honkamp Krueger Financial Services Inc. boosted its holdings in shares of Darden Restaurants by 0.3% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 2,788 shares of the restaurant operator’s stock worth $252,000 after acquiring an additional 9 shares in the last quarter. Bruderman Asset Management LLC boosted its holdings in shares of Darden Restaurants by 0.4% in the 2nd quarter. Bruderman Asset Management LLC now owns 2,532 shares of the restaurant operator’s stock worth $229,000 after acquiring an additional 10 shares in the last quarter. Wedbush Securities Inc. boosted its holdings in shares of Darden Restaurants by 0.5% in the 2nd quarter. Wedbush Securities Inc. now owns 3,195 shares of the restaurant operator’s stock worth $289,000 after acquiring an additional 15 shares in the last quarter. D.A. Davidson & CO. boosted its holdings 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 worth $114,000 after acquiring an additional 21 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Darden Restaurants by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,238 shares of the restaurant operator’s stock worth $835,000 after acquiring an additional 28 shares in the last quarter. 90.32% of the stock is currently owned by institutional investors.
Darden Restaurants (DRI) traded down 0.67% during midday trading on Wednesday, hitting $82.77. The stock had a trading volume of 1,308,773 shares. The stock has a market cap of $10.24 billion, a P/E ratio of 21.43 and a beta of 0.25. The company’s 50-day moving average price is $81.32 and its 200 day moving average price is $85.27. Darden Restaurants has a 12-month low of $63.26 and a 12-month high of $95.22.
Darden Restaurants (NYSE:DRI) last posted its earnings results on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.99. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. The company 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 earnings per share. The business’s revenue was up 12.9% compared to the same quarter last year. On average, equities research analysts predict that Darden Restaurants will post $4.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Friday, October 6th. Darden Restaurants’s payout ratio is 65.12%.
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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