DRI (Darden Restaurants Inc., $108.80) is a corporation that owns some of America’s famous restaurant chains: Olive Garden, Long Horn Steak House, Bahama Breeze, Cheddar’s Scratch Kitchen, The Capital Grill, Yard House, Eddie V’s, and Season’s 52 Grill.
Last Thursday, shares jumped 8.3% after their shareholders call, impressing investors by beating their earning goals; from $123.8 million (0.98 cents per share) to $174.5 million ($1.39 per share).
Carrying a fantastic history of consistent dividends, DRI has been steady in their lifetime on the stock market.
Image from StreetInsider.com
DRI also announced to increase their dividends by 19% for 0.75 cents per share. Many stock analysts are claiming this company to as a buy and hold investment. Current shareholders are very satisfied with their consistent dividend history since 2011.
Their Seasons 52 grill was the only restaurant that lagged behind by -1.39%.
Cheddar’s Scratch Kitchen was acquired last year by an all-cash offer for $780 million on March 27, 2017, some investors believe they could become more aggressive and competitive from their competitors BJRI (BJ’s Restaurant, $61.70) and DAVE (Famous Dave’s, $6.60). However, CEO, Gene Lee announced in DRI’s recent quarterly meeting,
“Our strategy remains unchanged, and our operators’ consistent focus on being brilliant with the basics has allowed us to continue building guest loyalty while taking market share.”
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Information Obtained: DardenRestaurants.com/investorrelations, Streetinsider.com, Markets.Businessinsider.com