November 28, 2016 - By Ellis Scott
Darden Restaurants Inc (NYSE:DRI)‘s “Buy” rating is no longer valid. The firm rating was lowered by research professionals at Maxim Group to “Hold”. They have a target of $74.00 on DRI.
Out of 16 analysts covering Darden Restaurants (NYSE:DRI), 9 rate it a “Buy”, 2 “Sell”, while 5 “Hold”. This means 56% are positive. $80 is the highest target while $50 is the lowest. The $70.50 average target is -4.94% below today’s ($74.16) stock price. Darden Restaurants has been the topic of 29 analyst reports since August 25, 2015 according to StockzIntelligence Inc. Maxim Group maintained the shares of DRI in a report on Friday, July 1 with “Buy” rating. Bernstein initiated the stock with “Market Perform” rating in Thursday, May 26 report. On Tuesday, May 17 the stock rating was upgraded by Piper Jaffray to “Overweight”. The rating was maintained by Stifel Nicolaus on Monday, October 3 with “Sell”. The stock of Darden Restaurants, Inc. (NYSE:DRI) has “Overweight” rating given on Wednesday, April 6 by Barclays Capital. Raymond James upgraded Darden Restaurants, Inc. (NYSE:DRI) on Tuesday, October 18 to “Mkt Perform” rating. The stock of Darden Restaurants, Inc. (NYSE:DRI) earned “Buy” rating by BTIG Research on Wednesday, April 6. The company was upgraded on Monday, October 19 by Maxim Group. The rating was maintained by SunTrust with “Neutral” on Wednesday, October 5. The stock of Darden Restaurants, Inc. (NYSE:DRI) has “Buy” rating given on Monday, April 18 by Citigroup.
About 666,549 shares traded hands. Darden Restaurants, Inc. (NYSE:DRI) has risen 18.11% since April 25, 2016 and is uptrending. It has outperformed by 12.09% the S&P500.
Analysts await Darden Restaurants, Inc. (NYSE:DRI) to report earnings on December, 16. They expect $0.63 earnings per share, up 16.67% or $0.09 from last year’s $0.54 per share. DRI’s profit will be $77.99M for 29.43 P/E if the $0.63 EPS becomes a reality. After $0.88 actual earnings per share reported by Darden Restaurants, Inc. for the previous quarter, Wall Street now forecasts -28.41% negative EPS growth.
Insitutional Activity: The institutional sentiment decreased to 0.91 in Q2 2016. Its down 0.18, from 1.09 in 2016Q1. The ratio turned negative, as 46 funds sold all Darden Restaurants, Inc. shares owned while 172 reduced positions. 56 funds bought stakes while 182 increased positions. They now own 115.09 million shares or 1.22% less from 116.51 million shares in 2016Q1.
Profund Advisors Limited Com holds 3,533 shares or 0.01% of its portfolio. First Interstate National Bank reported 750 shares or 0.01% of all its holdings. Fincl Counselors Inc has 0.15% invested in the company for 40,844 shares. Moreover, Financial Svcs has 0.21% invested in Darden Restaurants, Inc. (NYSE:DRI) for 5,545 shares. The Japan-based Norinchukin Natl Bank The has invested 0.04% in Darden Restaurants, Inc. (NYSE:DRI). American accumulated 47,794 shares or 0% of the stock. The Ontario – Canada-based Cibc Ww has invested 0.02% in Darden Restaurants, Inc. (NYSE:DRI). Trustmark National Bank Trust Department has 5,185 shares for 0.04% of their US portfolio. Andra Ap owns 75,000 shares or 0.12% of their US portfolio. American Natl Registered Advisor has invested 0.44% of its portfolio in Darden Restaurants, Inc. (NYSE:DRI). Millennium Management Limited Liability last reported 0.07% of its portfolio in the stock. The Nebraska-based Nelson Van Denburg Campbell Wealth Grp Incorporated Ltd Liability Co has invested 0% in Darden Restaurants, Inc. (NYSE:DRI). 1St Source Bank & Trust holds 0.04% or 5,513 shares in its portfolio. Bessemer Group Inc, a New Jersey-based fund reported 915,255 shares. Marshall Wace Ltd Liability Partnership, a United Kingdom-based fund reported 76,274 shares.
Insider Transactions: Since July 7, 2016, the stock had 1 buying transaction, and 1 sale for $2.12 million net activity. The insider Kirgan Danielle L. sold $2.31 million. Another trade for 3,000 shares valued at $185,100 was made by FOGARTY JAMES P on Thursday, July 7.
Darden Restaurants, Inc. is a full-service restaurant company. The company has a market cap of $9.18 billion. The Firm owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. It has a 24.41 P/E ratio. The Company’s divisions include Olive Garden, LongHorn Steakhouse, Fine Dining ) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
According to Zacks Investment Research, “Darden Restaurants, Inc. is the world’s largest casual dining restaurant company based on market share, sales and number of company-owned and operated restaurants. Darden through its subsidiaries, engages in the ownership and operation of casual dining restaurants in the United States and Canada.”
Darden Restaurants, Inc., incorporated on March 30, 1995, is a full-service restaurant company. The Firm owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s divisions 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). As of May 29, 2016, the Company also had 50 restaurants operated by independent third parties pursuant to area development and franchise agreements.
More news for Darden Restaurants, Inc. (NYSE:DRI) were recently published by: Forbes.com, which released: “Short Interest In Darden Restaurants Makes 12.7% Move” on November 11, 2016. Prnewswire.com‘s article titled: “Restaurants Stocks Under Scanner — Darden Restaurants, Dunkin’ Brands …” and published on November 28, 2016 is yet another important article.
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By Ellis Scott