Darden Restaurants Inc. (DRI) PT Lowered to $50.00 at Stifel Nicolaus
Darden Restaurants Inc. (NYSE:DRI) had its price target decreased by Stifel Nicolaus from $53.00 to $50.00 in a research note issued to investors on Monday. The firm currently has a “sell” rating on the restaurant operator’s stock. Stifel Nicolaus’ price target suggests a potential downside of 18.46% from the stock’s previous close.
A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Co. cut shares of Darden Restaurants from an “outperform” rating to a “market perform” rating and cut their target price for the company from $72.00 to $68.00 in a research note on Wednesday, July 13th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $76.00 price target (down previously from $78.00) on shares of Darden Restaurants in a report on Saturday, July 2nd. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $70.00 price target on shares of Darden Restaurants in a report on Wednesday, September 7th. Canaccord Genuity initiated coverage on shares of Darden Restaurants in a report on Monday, August 22nd. They issued a “buy” rating and a $74.00 price target for the company. Finally, Zacks Investment Research raised shares of Darden Restaurants from a “sell” rating to a “hold” rating in a report on Monday, September 12th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $70.63.
Shares of Darden Restaurants (NYSE:DRI) opened at 61.32 on Monday. Darden Restaurants has a 52 week low of $53.38 and a 52 week high of $68.97. The firm’s 50-day moving average is $62.04 and its 200 day moving average is $63.97. The firm has a market capitalization of $7.74 billion, a P/E ratio of 21.16 and a beta of 0.41.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.24 annualized dividend and a yield of 3.65%. Darden Restaurants’s dividend payout ratio (DPR) is presently 76.98%.
In other Darden Restaurants news, Director James P. Fogarty purchased 3,000 shares of the business’s stock in a transaction on Thursday, July 7th. The shares were purchased at an average cost of $61.70 per share, with a total value of $185,100.00. Following the transaction, the director now directly owns 7,890 shares of the company’s stock, valued at approximately $486,813. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.69% of the company’s stock.
A number of large investors have recently modified their holdings of DRI. Aviva PLC raised its position in Darden Restaurants by 0.7% in the first quarter. Aviva PLC now owns 138,386 shares of the restaurant operator’s stock valued at $9,175,000 after buying an additional 1,025 shares in the last quarter. Huntington Asset Advisors Inc. purchased a new position in Darden Restaurants during the first quarter valued at $484,000. M&T Bank Corp raised its position in Darden Restaurants by 6.3% in the first quarter. M&T Bank Corp now owns 236,846 shares of the restaurant operator’s stock valued at $15,703,000 after buying an additional 14,105 shares in the last quarter. Menta Capital LLC purchased a new position in Darden Restaurants during the first quarter valued at $537,000. Finally, Bessemer Group Inc. raised its position in Darden Restaurants by 1,174.4% in the first quarter. Bessemer Group Inc. now owns 676,309 shares of the restaurant operator’s stock valued at $44,840,000 after buying an additional 623,240 shares in the last quarter. 94.57% of the stock is currently owned by hedge funds and other 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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