Analysts at Gordon Haskett began coverage on shares of Darden Restaurants (NYSE:DRI) in a note issued to investors on Thursday, The Fly reports. The firm set an “underperform” rating on the restaurant operator’s stock.
Other equities research analysts have also issued research reports about the stock. Argus raised their price target on shares of Darden Restaurants from $108.00 to $125.00 in a report on Monday, June 25th. Barclays raised their price target on shares of Darden Restaurants from $117.00 to $121.00 and gave the stock a “$112.15” rating in a report on Wednesday, July 18th. Zacks Investment Research raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a report on Monday, July 16th. Citigroup raised their price target on shares of Darden Restaurants from $100.00 to $128.00 and gave the stock a “buy” rating in a report on Thursday, July 12th. Finally, ValuEngine raised shares of Darden Restaurants from a “hold” rating to a “buy” rating in a report on Friday, June 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $119.65.
Darden Restaurants stock traded down $0.28 during trading hours on Thursday, reaching $109.66. The stock had a trading volume of 1,212,200 shares, compared to its average volume of 1,518,446. The firm has a market cap of $13.74 billion, a PE ratio of 22.80, a price-to-earnings-growth ratio of 2.11 and a beta of 0.17. Darden Restaurants has a 52 week low of $79.18 and a 52 week high of $124.00. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 0.41.
In other news, insider Eugene I. Lee, Jr. sold 60,688 shares of Darden Restaurants stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $112.63, for a total transaction of $6,835,289.44. Following the sale, the insider now owns 147,561 shares of the company’s stock, valued at approximately $16,619,795.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Douglas J. Milanes sold 2,186 shares of Darden Restaurants stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $111.06, for a total transaction of $242,777.16. Following the sale, the senior vice president now directly owns 792 shares in the company, valued at approximately $87,959.52. The disclosure for this sale can be found here. Insiders have sold a total of 118,545 shares of company stock worth $13,103,896 in the last ninety days. Insiders own 0.65% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in DRI. Trilogy Capital Inc. purchased a new position in Darden Restaurants during the 1st quarter valued at about $140,000. Moneta Group Investment Advisors LLC lifted its position in Darden Restaurants by 92.9% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 1,640 shares of the restaurant operator’s stock valued at $176,000 after acquiring an additional 790 shares during the period. Doyle Wealth Management purchased a new position in Darden Restaurants during the 2nd quarter valued at about $202,000. Summit Securities Group LLC purchased a new position in Darden Restaurants during the 2nd quarter valued at about $203,000. Finally, Pillar Pacific Capital Management LLC purchased a new position in Darden Restaurants during the 2nd quarter valued at about $204,000. 89.50% of the stock is currently owned by hedge funds and other institutional investors.
Darden Restaurants Company Profile
Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 27, 2018, it owned and operated approximately 1,746 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Bahama Breeze, Seasons 52, and Eddie V's brands.
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