Darden Restaurants, Inc. (DRI) Given “Hold” Rating at Maxim Group
Maxim Group reiterated their hold rating on shares of Darden Restaurants, Inc. (NYSE:DRI) in a report published on Thursday morning. They currently have a $90.00 target price on the restaurant operator’s stock.
DRI has been the topic of several other research reports. Zacks Investment Research downgraded Darden Restaurants from a buy rating to a hold rating in a report on Friday, June 23rd. ValuEngine upgraded Darden Restaurants from a hold rating to a buy rating in a report on Friday, September 1st. Oppenheimer Holdings, Inc. lifted their price objective on Darden Restaurants in a report on Monday, June 26th. Robert W. Baird reiterated a neutral rating and issued a $90.00 price objective (up previously from $85.00) on shares of Darden Restaurants in a report on Monday, June 19th. Finally, BidaskClub downgraded Darden Restaurants from a buy rating to a hold rating in a report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $84.91.
Darden Restaurants (NYSE DRI) traded down 0.83% during midday trading on Thursday, hitting $82.37. The company’s stock had a trading volume of 1,179,127 shares. The company has a market cap of $10.33 billion, a PE ratio of 21.66 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 has a 50 day moving average of $82.69 and a 200 day moving average of $84.83.
Darden Restaurants (NYSE:DRI) last released 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. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.86 billion. Darden Restaurants had a return on equity of 26.18% and a net margin of 6.68%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 earnings per share. On average, equities analysts expect that Darden Restaurants will post $4.47 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.03%. Darden Restaurants’s dividend payout ratio is currently 66.14%.
In other 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 directly owns 165,062 shares of the company’s stock, valued at approximately $15,116,377.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. USA Financial Portformulas Corp bought a new stake in shares of Darden Restaurants in the 2nd quarter worth approximately $3,811,000. Toronto Dominion Bank raised its holdings in Darden Restaurants by 26.0% in the 2nd quarter. Toronto Dominion Bank now owns 42,119 shares of the restaurant operator’s stock worth $3,808,000 after acquiring an additional 8,694 shares during the last quarter. Archford Capital Strategies LLC raised its holdings in Darden Restaurants by 9,550.4% in the 2nd quarter. Archford Capital Strategies LLC now owns 12,449 shares of the restaurant operator’s stock worth $731,000 after acquiring an additional 12,320 shares during the last quarter. Cetera Investment Advisers purchased a new position in Darden Restaurants in the 2nd quarter worth approximately $349,000. Finally, Public Employees Retirement System of Ohio raised its holdings in Darden Restaurants by 3.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 54,341 shares of the restaurant operator’s stock worth $4,915,000 after acquiring an additional 1,706 shares during the last quarter. 88.65% of the stock is currently owned by hedge funds and other 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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