BMO Capital Markets Reaffirms “Market Perform” Rating for Darden Restaurants, Inc. (DRI)

BMO Capital Markets reaffirmed their market perform rating on shares of Darden Restaurants, Inc. (NYSE:DRI) in a report released on Wednesday. The firm currently has a $85.00 price target on the restaurant operator’s stock, down from their prior price target of $87.00.

Several other research firms also recently weighed in on DRI. Jefferies Group LLC boosted their target price on Darden Restaurants from $80.00 to $90.00 and gave the company a hold rating in a research report on Wednesday, June 28th. Goldman Sachs Group, Inc. (The) reissued a neutral rating and set a $87.00 target price (up previously from $81.00) on shares of Darden Restaurants in a research report on Wednesday, June 28th. Stephens reissued an equal weight rating and set a $85.00 target price on shares of Darden Restaurants in a research report on Wednesday, June 28th. Oppenheimer Holdings, Inc. reissued an outperform rating and set a $100.00 target price (up previously from $85.00) on shares of Darden Restaurants in a research report on Wednesday, June 28th. Finally, Royal Bank Of Canada boosted their target price on Darden Restaurants from $86.00 to $96.00 and gave the company a sector perform rating in a research report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have given a buy rating to the stock. Darden Restaurants currently has an average rating of Hold and a consensus price target of $84.86.

Darden Restaurants (DRI) traded down 0.23% on Wednesday, hitting $78.78. 2,144,813 shares of the company traded hands. The firm has a market capitalization of $9.86 billion, a PE ratio of 20.40 and a beta of 0.27. The firm’s 50 day moving average price is $82.69 and its 200 day moving average price is $84.83. Darden Restaurants has a 1-year low of $60.16 and a 1-year high of $95.22.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Tuesday, September 26th. The restaurant operator reported $0.99 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.99. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Darden Restaurants had a return on equity of 26.06% and a net margin of 6.60%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. Equities research analysts predict that Darden Restaurants will post $4.45 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Friday, October 6th. Darden Restaurants’s dividend payout ratio is presently 65.12%.

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Darden Restaurants by 3.6% in the first quarter. Vanguard Group Inc. now owns 14,211,162 shares of the restaurant operator’s stock valued at $1,189,048,000 after purchasing an additional 487,366 shares during the period. BlackRock Inc. increased its holdings in shares of Darden Restaurants by 2.7% in the second quarter. BlackRock Inc. now owns 11,779,249 shares of the restaurant operator’s stock valued at $1,065,316,000 after purchasing an additional 314,996 shares during the period. American International Group Inc. increased its holdings in shares of Darden Restaurants by 1.3% in the first quarter. American International Group Inc. now owns 6,198,698 shares of the restaurant operator’s stock valued at $518,645,000 after purchasing an additional 77,248 shares during the period. State Street Corp increased its holdings in shares of Darden Restaurants by 0.3% in the second quarter. State Street Corp now owns 5,479,782 shares of the restaurant operator’s stock valued at $495,583,000 after purchasing an additional 14,883 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Darden Restaurants by 0.5% in the second quarter. Wells Fargo & Company MN now owns 3,244,502 shares of the restaurant operator’s stock valued at $293,433,000 after purchasing an additional 15,194 shares during the period. 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).

Analyst Recommendations for Darden Restaurants (NYSE:DRI)




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