Darden Restaurants’ (DRI) Outperform Rating Reaffirmed at Robert W. Baird

Robert W. Baird reaffirmed their outperform rating on shares of Darden Restaurants (NYSE:DRI) in a report published on Wednesday. Robert W. Baird currently has a $104.00 target price on the restaurant operator’s stock, up from their prior target price of $94.00.

A number of other analysts have also issued reports on DRI. 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. 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. BMO Capital Markets reissued a market perform rating and issued a $85.00 price target (down from $87.00) on shares of Darden Restaurants in a research note on Wednesday, September 27th. Wells Fargo & Company decreased their price target on Darden Restaurants from $90.00 to $84.00 and set a market perform rating on the stock in a research note on Wednesday, September 27th. Finally, Royal Bank of Canada reduced their price objective on Darden Restaurants from $96.00 to $90.00 and set a sector perform rating on the stock in a research note on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company. Darden Restaurants presently has a consensus rating of Hold and an average target price of $92.70.

Shares of Darden Restaurants (NYSE:DRI) traded down $1.02 during trading hours on Wednesday, reaching $95.67. The company’s stock had a trading volume of 2,720,000 shares, compared to its average volume of 1,631,241. The company has a current ratio of 0.34, a quick ratio of 0.24 and a debt-to-equity ratio of 0.47. Darden Restaurants has a 12-month low of $71.01 and a 12-month high of $98.29. The firm has a market cap of $11,957.97, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 2.10 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 26.24% and a net margin of 6.46%. 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 4.47 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.63%. The ex-dividend date is Tuesday, January 9th. Darden Restaurants’s dividend payout ratio (DPR) is presently 64.62%.

Hedge funds have recently bought and sold shares of the business. State of Tennessee Treasury Department increased its holdings in Darden Restaurants by 162.3% during the 2nd quarter. State of Tennessee Treasury Department now owns 121,896 shares of the restaurant operator’s stock worth $11,025,000 after purchasing an additional 75,421 shares during the last quarter. Chicago Equity Partners LLC increased its holdings in Darden Restaurants by 589.5% during the 2nd quarter. Chicago Equity Partners LLC now owns 41,230 shares of the restaurant operator’s stock worth $3,729,000 after purchasing an additional 35,250 shares during the last quarter. Toronto Dominion Bank increased its holdings in Darden Restaurants by 26.0% during the 2nd quarter. Toronto Dominion Bank now owns 42,119 shares of the restaurant operator’s stock worth $3,808,000 after purchasing an additional 8,694 shares during the last quarter. Eastern Bank purchased a new stake in Darden Restaurants during the 3rd quarter worth approximately $2,327,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in Darden Restaurants by 4.3% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,061,980 shares of the restaurant operator’s stock worth $83,663,000 after purchasing an additional 43,734 shares during the last quarter. 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).

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