Darden Restaurants Inc. (DRI) Stock Price Down 0%
Shares of Darden Restaurants Inc. (NYSE:DRI) traded down 0% during trading on Friday . The stock traded as low as $61.85 and last traded at $62.10, with a volume of 848,067 shares trading hands. The stock had previously closed at $62.07.
Several analysts have recently commented on the company. Guggenheim restated a “neutral” rating on shares of Darden Restaurants in a research note on Wednesday. Deutsche Bank AG restated a “buy” rating and issued a $76.00 target price on shares of Darden Restaurants in a research note on Tuesday, July 5th. BMO Capital Markets restated a “market perform” rating and issued a $64.00 target price (down from $66.00) on shares of Darden Restaurants in a research note on Tuesday, July 5th. Jefferies Group restated a “hold” rating and issued a $64.00 target price (down from $66.00) on shares of Darden Restaurants in a research note on Saturday, July 2nd. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $76.00 target price (down from $78.00) on shares of Darden Restaurants in a research note on Saturday, July 2nd. One analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $72.80.
The company has a 50 day moving average price of $66.25 and a 200-day moving average price of $64.28. The company has a market cap of $7.84 billion and a P/E ratio of 21.40.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Thursday, June 30th. The restaurant operator reported $1.10 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.02. During the same period in the prior year, the firm posted $1.01 earnings per share. The company earned $1.79 billion during the quarter. Darden Restaurants’s quarterly revenue was down 4.7% compared to the same quarter last year. Equities analysts expect that Darden Restaurants Inc. will post $3.88 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Monday, July 11th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 3.61%. The ex-dividend date is Thursday, July 7th. This is a positive change from Darden Restaurants’s previous quarterly dividend of $0.50.
In other Darden Restaurants news, Director Alan N. Stillman sold 2,000 shares of the company’s stock in a transaction dated Tuesday, April 12th. The shares were sold at an average price of $63.50, for a total value of $127,000.00. Following the sale, the director now owns 3,100 shares in the company, valued at $196,850. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Other large investors have recently bought and sold shares of the company. Bragg Financial Advisors Inc boosted its stake in Darden Restaurants by 4.6% in the fourth quarter. Bragg Financial Advisors Inc now owns 18,081 shares of the restaurant operator’s stock worth $1,151,000 after buying an additional 790 shares during the last quarter. MUFG Americas boosted its stake in Darden Restaurants by 3.4% in the third quarter. MUFG Americas now owns 27,194 shares of the restaurant operator’s stock worth $1,864,000 after buying an additional 900 shares during the last quarter. Cavalier Investments boosted its stake in Darden Restaurants by 33.3% in the fourth quarter. Cavalier Investments now owns 32,400 shares of the restaurant operator’s stock worth $2,062,000 after buying an additional 8,100 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in Darden Restaurants during the fourth quarter worth approximately $2,163,000. Finally, Navellier & Associates Inc boosted its stake in Darden Restaurants by 15.8% in the fourth quarter. Navellier & Associates Inc now owns 34,162 shares of the restaurant operator’s stock worth $2,174,000 after buying an additional 4,664 shares during the last quarter.
Darden Restaurants, Inc is a full service restaurant company. The Company owns and operates more than 1,500 restaurants. The Company’s restaurant brands include Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, The Capital Grille, Eddie V’s Prime Seafood, Wildfish Seafood Grill and Yard House.
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