Darden Restaurants, Inc. (DRI) Upgraded at BidaskClub
Darden Restaurants, Inc. (NYSE:DRI) was upgraded by BidaskClub from a “sell” rating to a “hold” rating in a report issued on Friday.
Other research analysts have also recently issued reports about the company. Canaccord Genuity restated a “buy” rating and set a $102.00 target price on shares of Darden Restaurants in a report on Friday, June 9th. Robert W. Baird restated a “neutral” rating and set a $90.00 target price (up from $85.00) on shares of Darden Restaurants in a report on Monday, June 19th. Maxim Group restated a “hold” rating and set a $90.00 target price on shares of Darden Restaurants in a report on Wednesday, June 21st. Morgan Stanley restated an “equal weight” rating and set a $86.00 target price (up from $83.00) on shares of Darden Restaurants in a report on Thursday, June 22nd. Finally, Zacks Investment Research cut Darden Restaurants from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $84.78.
Shares of Darden Restaurants (NYSE DRI) traded up 0.38% during trading on Friday, reaching $84.45. The company had a trading volume of 665,520 shares. The company has a market capitalization of $10.59 billion, a PE ratio of 22.21 and a beta of 0.27. Darden Restaurants has a 52 week low of $60.16 and a 52 week high of $95.22. The stock’s 50-day moving average price is $86.56 and its 200-day moving average price is $83.46.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Tuesday, June 27th. The restaurant operator reported $1.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.03. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same period in the previous year, the business earned $1.10 EPS. Darden Restaurants’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities analysts expect that Darden Restaurants will post $4.47 EPS for the current fiscal year.
In other Darden Restaurants news, insider Eugene I. Lee, Jr. sold 93,125 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $91.58, for a total value of $8,528,387.50. Following the sale, the insider now owns 165,062 shares of the company’s stock, valued at $15,116,377.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.63% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. D.A. Davidson & CO. raised its stake in shares of Darden Restaurants by 1.7% in the second quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock worth $114,000 after buying an additional 21 shares during the last quarter. M&R Capital Management Inc. purchased a new stake in shares of Darden Restaurants during the second quarter worth about $108,000. Farmers & Merchants Investments Inc. raised its stake in shares of Darden Restaurants by 255.5% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,422 shares of the restaurant operator’s stock worth $129,000 after buying an additional 1,022 shares during the last quarter. Huntington National Bank raised its stake in shares of Darden Restaurants by 4.6% in the second quarter. Huntington National Bank now owns 1,578 shares of the restaurant operator’s stock worth $143,000 after buying an additional 70 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in shares of Darden Restaurants by 4.6% in the first quarter. Van ECK Associates Corp now owns 1,625 shares of the restaurant operator’s stock worth $136,000 after buying an additional 71 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.
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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