Credit Suisse Group reiterated their market perform rating on shares of Darden Restaurants (NYSE:DRI) in a report issued on Wednesday, December 20th, The Fly reports. Credit Suisse Group currently has a $90.00 price objective on the restaurant operator’s stock, up from their previous price objective of $82.00. The analysts noted that the move was a valuation call.
Other equities research analysts also recently issued research reports about the company. Oppenheimer restated a buy rating and set a $100.00 price target on shares of Darden Restaurants in a research report on Wednesday, September 20th. Zacks Investment Research upgraded Darden Restaurants from a hold rating to a buy rating and set a $94.00 price target on the stock in a research report on Friday, September 22nd. Maxim Group raised Darden Restaurants from a hold rating to a buy rating and raised their price objective for the company from $90.00 to $93.00 in a research note on Wednesday, September 27th. ValuEngine raised Darden Restaurants from a hold rating to a buy rating in a research note on Friday, September 1st. Finally, Canaccord Genuity reaffirmed a buy rating and set a $97.00 price objective on shares of Darden Restaurants in a research note on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $95.32.
Darden Restaurants (DRI) traded up $0.42 during midday trading on Wednesday, reaching $98.02. The company’s stock had a trading volume of 1,076,331 shares, compared to its average volume of 1,725,388. Darden Restaurants has a twelve month low of $71.43 and a twelve month high of $100.11. The company has a quick ratio of 0.20, a current ratio of 0.34 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $12,056.90, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 1.89 and a beta of 0.20.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $2.52 annualized dividend and a dividend yield of 2.57%. Darden Restaurants’s payout ratio is presently 64.62%.
In related news, insider Eugene I. Lee, Jr. sold 59,783 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $96.80, for a total value of $5,786,994.40. Following the sale, the insider now directly owns 164,396 shares of the company’s stock, valued at $15,913,532.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas J. Milanes sold 4,300 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $97.05, for a total value of $417,315.00. Following the completion of the sale, the senior vice president now directly owns 7,513 shares in the company, valued at $729,136.65. The disclosure for this sale can be found here. Insiders sold 74,866 shares of company stock worth $7,252,094 over the last three months. 0.63% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. M&R Capital Management Inc. purchased a new stake in Darden Restaurants in the second quarter worth about $108,000. D.A. Davidson & CO. lifted its holdings in 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 period. Moisand Fitzgerald Tamayo LLC purchased a new stake in Darden Restaurants in the third quarter worth about $115,000. Grove Bank & Trust lifted its holdings in Darden Restaurants by 155.6% in the third quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock worth $145,000 after buying an additional 1,120 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in Darden Restaurants in the third quarter worth about $208,000. Institutional investors and hedge funds own 91.45% of the company’s stock.
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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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