Robert W. Baird restated their hold rating on shares of Darden Restaurants, Inc. (NYSE:DRI) in a research report sent to investors on Tuesday morning. Robert W. Baird currently has a $94.00 price target on the restaurant operator’s stock.
A number of other equities analysts have also recently issued reports on the company. ValuEngine raised Darden Restaurants from a hold rating to a buy rating in a report on Friday, September 1st. BidaskClub raised Darden Restaurants from a sell rating to a hold rating in a report on Friday, August 18th. Raymond James Financial, Inc. reissued a market perform rating on shares of Darden Restaurants in a report on Monday, July 24th. Zacks Investment Research cut Darden Restaurants from a buy rating to a hold rating in a report on Wednesday, July 12th. Finally, Bank of America Corporation increased their target price on Darden Restaurants from $80.00 to $85.00 and gave the stock an underperform rating in a report on Friday, June 30th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating and six have given a buy rating to the company. Darden Restaurants currently has a consensus rating of Hold and an average price target of $85.18.
Darden Restaurants (NYSE:DRI) opened at 83.31 on Tuesday. The firm has a market cap of $10.45 billion, a price-to-earnings ratio of 21.91 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 price of $82.69 and a 200 day moving average price of $84.83. Darden Restaurants also was the recipient of some unusual options trading on Monday. Traders bought 25,604 call options on the stock. This is an increase of approximately 1,415% compared to the average daily volume of 1,690 call options.
Darden Restaurants (NYSE:DRI) last issued its earnings results on Tuesday, June 27th. The restaurant operator reported $1.18 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the firm posted $1.10 EPS. Darden Restaurants’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts expect that Darden Restaurants will post $4.47 earnings per share for the current fiscal year.
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In related news, insider Eugene I. Lee, Jr. sold 93,125 shares of Darden Restaurants stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $91.58, for a total transaction of $8,528,387.50. Following the completion of the transaction, the insider now owns 165,062 shares in the company, valued at $15,116,377.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.63% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of DRI. BlackRock Inc. grew its holdings in Darden Restaurants by 4,601.4% during the first quarter. BlackRock Inc. now owns 11,464,253 shares of the restaurant operator’s stock worth $959,215,000 after purchasing an additional 11,220,403 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Darden Restaurants by 3,640.4% during the second quarter. Janus Henderson Group PLC now owns 737,685 shares of the restaurant operator’s stock worth $66,717,000 after acquiring an additional 717,963 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Darden Restaurants by 66.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,275,399 shares of the restaurant operator’s stock worth $115,348,000 after acquiring an additional 510,969 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Darden Restaurants by 3.6% during the first quarter. Vanguard Group Inc. now owns 14,211,162 shares of the restaurant operator’s stock worth $1,189,048,000 after acquiring an additional 487,366 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Darden Restaurants by 55.0% during the first quarter. UBS Asset Management Americas Inc. now owns 1,250,125 shares of the restaurant operator’s stock worth $104,598,000 after acquiring an additional 443,669 shares during the period. Institutional investors and hedge funds own 88.65% of the company’s stock.
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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