Shoker Investment Counsel Inc. acquired a new position in Darden Restaurants, Inc. (NYSE:DRI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,199 shares of the restaurant operator’s stock, valued at approximately $883,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Advisor Partners LLC lifted its holdings in Darden Restaurants by 47.8% in the 4th quarter. Advisor Partners LLC now owns 8,291 shares of the restaurant operator’s stock worth $821,000 after buying an additional 2,681 shares during the period. Tredje AP fonden lifted its holdings in Darden Restaurants by 11.0% in the 3rd quarter. Tredje AP fonden now owns 61,850 shares of the restaurant operator’s stock worth $4,873,000 after buying an additional 6,110 shares during the period. Trust Department MB Financial Bank N A purchased a new stake in Darden Restaurants in the 4th quarter worth approximately $720,000. Eastern Bank purchased a new stake in Darden Restaurants in the 3rd quarter worth approximately $2,327,000. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Darden Restaurants by 4.3% in 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 buying an additional 43,734 shares during the period. Institutional investors and hedge funds own 85.05% of the company’s stock.
Several equities research analysts have weighed in on DRI shares. Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a report on Thursday, December 14th. Credit Suisse Group reiterated a “hold” rating and issued a $95.00 price objective on shares of Darden Restaurants in a report on Friday, January 12th. SunTrust Banks set a $94.00 price objective on Darden Restaurants and gave the stock a “hold” rating in a report on Monday, December 11th. BMO Capital Markets set a $101.00 price objective on Darden Restaurants and gave the stock a “hold” rating in a report on Tuesday, December 19th. Finally, Sanford C. Bernstein raised their target price on Darden Restaurants from $91.00 to $99.00 and gave the company a “market perform” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $96.95.
Darden Restaurants, Inc. (NYSE DRI) opened at $95.19 on Friday. Darden Restaurants, Inc. has a 52-week low of $73.81 and a 52-week high of $100.11. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.20 and a current ratio of 0.34. The firm has a market capitalization of $11,772.77, a P/E ratio of 24.41, a P/E/G ratio of 1.85 and a beta of 0.16.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Tuesday, December 19th. The restaurant operator reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. Darden Restaurants had a return on equity of 26.24% and a net margin of 6.46%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.85 billion. equities analysts forecast that Darden Restaurants, Inc. will post 4.76 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend was Tuesday, January 9th. Darden Restaurants’s dividend payout ratio (DPR) is presently 64.62%.
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About Darden Restaurants
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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