Darden Restaurants, Inc. (NYSE:DRI)‘s stock had its “hold” rating restated by research analysts at Royal Bank Of Canada in a report issued on Friday. They presently have a $96.00 price objective on the restaurant operator’s stock. Royal Bank Of Canada’s price target indicates a potential upside of 15.83% from the stock’s current price.
Other analysts have also issued research reports about the stock. Oppenheimer Holdings, Inc. upped their target price on shares of Darden Restaurants in a research note on Monday, June 26th. Bank of America Corporation set a $80.00 target price on shares of Darden Restaurants and gave the stock a “buy” rating in a research note on Monday, June 26th. Canaccord Genuity reiterated a “buy” rating and issued a $102.00 target price on shares of Darden Restaurants in a research note on Friday, June 9th. Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $100.00 target price for the company in a research note on Tuesday, July 11th. Finally, BidaskClub lowered shares of Darden Restaurants from a “strong-buy” rating to a “buy” rating in a research note on Sunday, July 16th. Two equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $84.91.
Darden Restaurants (NYSE:DRI) opened at 82.88 on Friday. The company has a market cap of $10.39 billion, a P/E ratio of 21.79 and a beta of 0.27. Darden Restaurants has a 12 month low of $60.16 and a 12 month 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 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.15 by $0.03. Darden Restaurants had a net margin of 6.68% and a return on equity of 26.18%. The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the prior year, the company posted $1.10 earnings per share. The business’s revenue was up 8.1% on a year-over-year basis. Equities research analysts expect that Darden Restaurants will post $4.47 EPS for the current year.
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In other Darden Restaurants news, insider Eugene I. Lee, Jr. sold 93,125 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $91.58, for a total transaction of $8,528,387.50. Following the sale, the insider now directly owns 165,062 shares of the company’s stock, valued at $15,116,377.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.63% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DRI. M&R Capital Management Inc. purchased a new stake in shares of Darden Restaurants in the second quarter worth about $108,000. D.A. Davidson & CO. lifted its holdings 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 in the last quarter. Farmers & Merchants Investments Inc. lifted its holdings 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 in the last quarter. Van ECK Associates Corp lifted its holdings 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 in the last quarter. Finally, Huntington National Bank lifted its holdings 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 in the last quarter. 88.65% of the stock is currently owned by institutional investors and hedge funds.
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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