Darden Restaurants (DRI) Given Hold Rating at Credit Suisse Group

Credit Suisse Group reiterated their hold rating on shares of Darden Restaurants (NYSE:DRI) in a research report sent to investors on Friday. The brokerage currently has a $95.00 target price on the restaurant operator’s stock.

Several other research firms also recently issued reports on DRI. Robert W. Baird restated a hold rating and issued a $94.00 price objective on shares of Darden Restaurants in a research note on Tuesday, September 19th. 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. Zacks Investment Research upgraded shares of Darden Restaurants from a hold rating to a buy rating and set a $94.00 price objective for the company in a research note on Friday, September 22nd. Maxim Group restated a hold rating and issued a $90.00 price objective on shares of Darden Restaurants in a research note on Thursday, September 21st. Finally, Royal Bank of Canada restated a sector perform rating and issued a $90.00 price objective (down previously from $96.00) on shares of Darden Restaurants in a research note on Friday, September 22nd. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and ten have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $95.32.

Darden Restaurants (NYSE:DRI) opened at $98.02 on Friday. The company has a market capitalization of $12,108.78, a price-to-earnings ratio of 25.13, a P/E/G ratio of 1.90 and a beta of 0.20. The company has a quick ratio of 0.20, a current ratio of 0.34 and a debt-to-equity ratio of 0.47. Darden Restaurants has a twelve month low of $71.43 and a twelve month high of $100.11.

Darden Restaurants (NYSE:DRI) last posted its earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 EPS for the quarter, beating the consensus estimate of $0.70 by $0.03. Darden Restaurants had a return on equity of 26.24% and a net margin of 6.46%. equities analysts expect that Darden Restaurants will post 4.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, January 9th. This represents a $2.52 annualized dividend and a dividend yield of 2.57%. Darden Restaurants’s dividend payout ratio (DPR) is 64.62%.

In other news, CFO Ricardo Cardenas sold 10,783 shares of the stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $97.17, for a total transaction of $1,047,784.11. Following the completion of the sale, the chief financial officer now owns 20,046 shares in the company, valued at $1,947,869.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Douglas J. Milanes sold 4,300 shares of the stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $97.05, for a total transaction of $417,315.00. Following the sale, the senior vice president now owns 7,513 shares of the company’s stock, valued at approximately $729,136.65. The disclosure for this sale can be found here. Insiders have sold 74,866 shares of company stock valued at $7,252,094 in the last quarter. Insiders own 0.63% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. D.A. Davidson & CO. lifted its position 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. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Darden Restaurants by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,238 shares of the restaurant operator’s stock valued at $835,000 after purchasing an additional 28 shares during the period. Argent Capital Management LLC lifted its position in Darden Restaurants by 2.0% in the second quarter. Argent Capital Management LLC now owns 5,125 shares of the restaurant operator’s stock valued at $464,000 after purchasing an additional 100 shares during the period. Oppenheimer Asset Management Inc. lifted its position in Darden Restaurants by 1.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 6,345 shares of the restaurant operator’s stock valued at $573,000 after purchasing an additional 114 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in Darden Restaurants by 2.2% in the second quarter. Oppenheimer & Co. Inc. now owns 5,667 shares of the restaurant operator’s stock valued at $513,000 after purchasing an additional 121 shares during the period. Hedge funds and other institutional investors own 91.83% of the company’s stock.

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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).

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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