Equities researchers at Mizuho began coverage on shares of Darden Restaurants (NYSE:DRI) in a research note issued to investors on Thursday. The brokerage set a “buy” rating and a $105.00 price target on the restaurant operator’s stock. Mizuho’s target price indicates a potential upside of 11.05% from the company’s current price.
DRI has been the subject of several other reports. SunTrust Banks restated a “hold” rating on shares of Darden Restaurants in a report on Thursday, December 21st. BMO Capital Markets set a $101.00 target price on Darden Restaurants and gave the company a “hold” rating in a report on Tuesday, December 19th. Zacks Investment Research cut Darden Restaurants from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Wells Fargo restated a “market perform” rating and issued a $99.00 target price (up from $92.00) on shares of Darden Restaurants in a report on Tuesday, January 9th. Finally, Barclays restated an “overweight” rating and issued a $116.00 target price (up from $108.00) on shares of Darden Restaurants in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $97.09.
Darden Restaurants (NYSE:DRI) opened at $94.55 on Thursday. Darden Restaurants has a 52 week low of $75.20 and a 52 week 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 company has a market capitalization of $11,565.23, a price-to-earnings ratio of 24.24, a P/E/G ratio of 1.81 and a beta of 0.22.
Darden Restaurants (NYSE:DRI) last issued its earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.03. The company had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Darden Restaurants had a return on equity of 26.24% and a net margin of 6.46%. equities analysts predict that Darden Restaurants will post 4.76 earnings per share for the current year.
In other news, insider Eugene I. Lee, Jr. sold 59,783 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $96.80, for a total transaction of $5,786,994.40. Following the completion of the transaction, the insider now directly owns 164,396 shares in the company, valued at approximately $15,913,532.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Douglas J. Milanes sold 4,300 shares of the stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $97.05, for a total value of $417,315.00. Following the transaction, the senior vice president now owns 7,513 shares of the company’s stock, valued at $729,136.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 74,866 shares of company stock valued at $7,252,094. Company insiders own 0.63% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new position in Darden Restaurants during the 4th quarter worth about $126,000. Grove Bank & Trust lifted its stake in Darden Restaurants by 155.6% during the 3rd quarter. Grove Bank & Trust now owns 1,840 shares of the restaurant operator’s stock worth $145,000 after acquiring an additional 1,120 shares in the last quarter. Cetera Advisor Networks LLC acquired a new position in Darden Restaurants during the 4th quarter worth about $200,000. Texas Yale Capital Corp. acquired a new position in Darden Restaurants during the 4th quarter worth about $205,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Darden Restaurants during the 3rd quarter worth about $208,000. Institutional investors and hedge funds own 92.69% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This report was first posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this report on another publication, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The legal version of this report can be read at https://www.thelincolnianonline.com/2018/03/17/darden-restaurants-dri-now-covered-by-mizuho.html.
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).
Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.