Darden Restaurants (DRI) Given “Outperform” Rating at Robert W. Baird

Robert W. Baird restated their outperform rating on shares of Darden Restaurants (NYSE:DRI) in a report published on Wednesday, December 20th, The Fly reports. Robert W. Baird currently has a $104.00 price objective on the restaurant operator’s stock, up from their previous price objective of $94.00.

Several other brokerages have also recently issued reports on DRI. Zacks Investment Research cut Darden Restaurants from a buy rating to a hold rating in a research note on Monday, December 18th. SunTrust Banks set a $94.00 price objective on Darden Restaurants and gave the stock a hold rating in a research note on Monday, December 11th. Oppenheimer restated a buy rating and issued a $100.00 price objective on shares of Darden Restaurants in a research note on Wednesday, September 20th. Stephens reduced their price objective on Darden Restaurants from $95.00 to $80.00 and set an outperform rating for the company in a research note on Wednesday, September 27th. Finally, Morgan Stanley restated an equal weight rating and issued a $88.00 price objective (down from $93.00) on shares of Darden Restaurants in a research note on Wednesday, September 27th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and ten have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $95.18.

Shares of Darden Restaurants (DRI) traded up $0.81 during midday trading on Wednesday, reaching $97.60. The company’s stock had a trading volume of 1,277,400 shares, compared to its average volume of 1,830,000. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.20 and a current ratio of 0.34. The firm has a market capitalization of $12,070.00, a P/E ratio of 24.58, a PEG ratio of 2.11 and a beta of 0.20. Darden Restaurants has a fifty-two week low of $71.43 and a fifty-two week high of $100.11.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Tuesday, January 9th. Darden Restaurants’s dividend payout ratio is currently 63.48%.

Institutional investors and hedge funds have recently modified their holdings of the business. M&R Capital Management Inc. acquired a new stake in Darden Restaurants in the second quarter valued at approximately $108,000. D.A. Davidson & CO. grew 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 valued at $114,000 after purchasing an additional 21 shares during the period. Moisand Fitzgerald Tamayo LLC acquired a new stake in Darden Restaurants in the third quarter valued at approximately $115,000. Grove Bank & Trust grew 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 valued at $145,000 after purchasing an additional 1,120 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Darden Restaurants in the third quarter valued at approximately $208,000. 91.45% of the stock is currently owned by institutional investors.

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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).

The Fly

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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