Maxim Group restated their buy rating on shares of Darden Restaurants (NYSE:DRI) in a report issued on Wednesday. The firm currently has a $103.00 price target on the restaurant operator’s stock, up from their previous price target of $93.00.
Several other equities analysts have also recently issued reports on DRI. Robert W. Baird restated an outperform rating and issued a $104.00 price target (up previously from $94.00) on shares of Darden Restaurants in a research report on Wednesday. Zacks Investment Research cut Darden Restaurants from a buy rating to a hold rating in a research report on Monday, December 18th. SunTrust Banks set a $94.00 target price on Darden Restaurants and gave the stock a hold rating in a research report on Monday, December 11th. Oppenheimer reiterated a buy rating and set a $100.00 target price on shares of Darden Restaurants in a research report on Wednesday, September 20th. Finally, Stephens lowered their price target on Darden Restaurants from $95.00 to $80.00 and set an outperform rating on the stock in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $93.05.
Darden Restaurants (NYSE DRI) opened at $96.40 on Wednesday. The stock has a market capitalization of $12,090.00, a P/E ratio of 24.28, a price-to-earnings-growth ratio of 2.05 and a beta of 0.22. 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 1 year low of $71.01 and a 1 year high of $98.29.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.52 annualized dividend and a dividend yield of 2.61%. Darden Restaurants’s payout ratio is 63.48%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in DRI. M&R Capital Management Inc. purchased a new stake in Darden Restaurants during the second quarter valued at about $108,000. D.A. Davidson & CO. increased its holdings in shares of Darden Restaurants by 1.7% during the second quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock valued at $114,000 after acquiring an additional 21 shares in the last quarter. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Darden Restaurants during the third quarter valued at $115,000. Grove Bank & Trust increased its holdings in shares of Darden Restaurants by 155.6% during the third quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock valued at $145,000 after acquiring an additional 1,120 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Darden Restaurants during the third quarter valued at $208,000. 91.45% of the stock is currently owned by institutional investors.
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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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