Darden Restaurants Inc. (DRI) Given Hold Rating at Morgan Stanley
Morgan Stanley reiterated their hold rating on shares of Darden Restaurants Inc. (NYSE:DRI) in a report published on Tuesday. The firm currently has a $67.00 price objective on the restaurant operator’s stock.
Several other brokerages have also weighed in on DRI. Deutsche Bank AG reissued a buy rating and issued a $76.00 price objective on shares of Darden Restaurants in a report on Tuesday, July 5th. BMO Capital Markets reaffirmed a market perform rating and set a $64.00 target price (down previously from $66.00) on shares of Darden Restaurants in a report on Tuesday, July 5th. Stifel Nicolaus lowered Darden Restaurants from a hold rating to a sell rating and set a $53.00 target price for the company. in a report on Tuesday, July 26th. Zacks Investment Research raised Darden Restaurants from a hold rating to a buy rating and set a $76.00 target price for the company in a report on Wednesday, June 15th. Finally, Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $70.00 target price on shares of Darden Restaurants in a report on Tuesday, June 28th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $70.83.
Darden Restaurants (NYSE:DRI) opened at 61.52 on Tuesday. Darden Restaurants has a 1-year low of $53.38 and a 1-year high of $69.25. The company has a 50 day moving average of $62.13 and a 200 day moving average of $64.07. The firm has a market capitalization of $7.76 billion, a P/E ratio of 21.23 and a beta of 0.52.
In other news, Director James P. Fogarty bought 3,000 shares of the stock in a transaction on Thursday, July 7th. The shares were bought at an average price of $61.70 per share, with a total value of $185,100.00. Following the completion of the acquisition, the director now owns 7,890 shares in the company, valued at $486,813. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.69% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Macquarie Group Ltd. increased its position in Darden Restaurants by 4.9% in the second quarter. Macquarie Group Ltd. now owns 3,357 shares of the restaurant operator’s stock worth $213,000 after buying an additional 157 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new position in Darden Restaurants during the second quarter valued at approximately $292,000. Kentucky Retirement Systems bought a new position in Darden Restaurants during the second quarter valued at approximately $614,000. Nomura Holdings Inc. increased its position in Darden Restaurants by 19.4% in the second quarter. Nomura Holdings Inc. now owns 4,200 shares of the restaurant operator’s stock valued at $267,000 after buying an additional 683 shares during the period. Finally, Mason Street Advisors LLC bought a new position in Darden Restaurants during the second quarter valued at approximately $973,000. 94.57% of the stock is currently owned by institutional investors.
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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