Darden Restaurants (NYSE:DRI) Price Target Raised to $190.00

Darden Restaurants (NYSE:DRIFree Report) had its price target hoisted by Stifel Nicolaus from $185.00 to $190.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the restaurant operator’s stock.

Several other equities analysts have also commented on DRI. Barclays raised their price target on Darden Restaurants from $180.00 to $187.00 and gave the company an overweight rating in a research note on Wednesday, January 3rd. BMO Capital Markets boosted their price target on Darden Restaurants from $160.00 to $165.00 and gave the company a market perform rating in a report on Thursday, March 7th. Oppenheimer restated an outperform rating and issued a $186.00 price objective on shares of Darden Restaurants in a research report on Wednesday, March 13th. Bank of America boosted their price objective on Darden Restaurants from $193.00 to $198.00 and gave the company a buy rating in a research report on Monday. Finally, Stephens restated an overweight rating and issued a $170.00 price objective on shares of Darden Restaurants in a research report on Monday, December 18th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, Darden Restaurants presently has an average rating of Moderate Buy and a consensus price target of $178.25.

View Our Latest Stock Analysis on Darden Restaurants

Darden Restaurants Trading Down 6.5 %

Shares of DRI opened at $163.22 on Tuesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.36 and a quick ratio of 0.23. The firm has a market cap of $19.49 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 1.88 and a beta of 1.26. Darden Restaurants has a 1 year low of $133.36 and a 1 year high of $176.84. The company has a 50 day simple moving average of $166.52 and a two-hundred day simple moving average of $156.88.

Darden Restaurants (NYSE:DRIGet Free Report) last issued its quarterly earnings results on Thursday, March 21st. The restaurant operator reported $2.62 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.02). The company had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.02 billion. Darden Restaurants had a return on equity of 49.39% and a net margin of 9.16%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.34 earnings per share. On average, equities analysts expect that Darden Restaurants will post 8.87 earnings per share for the current fiscal year.

Darden Restaurants Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $1.31 dividend. This represents a $5.24 dividend on an annualized basis and a yield of 3.21%. Darden Restaurants’s dividend payout ratio is currently 63.36%.

Insider Buying and Selling at Darden Restaurants

In other news, SVP Matthew R. Broad sold 6,831 shares of the stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $163.26, for a total value of $1,115,229.06. Following the transaction, the senior vice president now owns 19,141 shares in the company, valued at approximately $3,124,959.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, SVP John W. Madonna sold 3,836 shares of the firm’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $163.80, for a total value of $628,336.80. Following the completion of the sale, the senior vice president now directly owns 6,971 shares of the company’s stock, valued at approximately $1,141,849.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Matthew R. Broad sold 6,831 shares of Darden Restaurants stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $163.26, for a total value of $1,115,229.06. Following the transaction, the senior vice president now directly owns 19,141 shares of the company’s stock, valued at $3,124,959.66. The disclosure for this sale can be found here. 0.85% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Darden Restaurants

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Union Savings Bank purchased a new stake in shares of Darden Restaurants in the second quarter valued at $25,000. Quarry LP lifted its stake in shares of Darden Restaurants by 980.0% during the second quarter. Quarry LP now owns 162 shares of the restaurant operator’s stock worth $27,000 after purchasing an additional 147 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of Darden Restaurants during the fourth quarter worth about $29,000. Hartford Financial Management Inc. lifted its stake in shares of Darden Restaurants by 65.1% during the fourth quarter. Hartford Financial Management Inc. now owns 180 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 71 shares in the last quarter. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Darden Restaurants in the fourth quarter worth about $33,000. 94.53% of the stock is owned by institutional investors and hedge funds.

About Darden Restaurants

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Darden Restaurants, Inc, together with its subsidiaries, owns and operates full-service restaurants in the United States and Canada. It operates under Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V's Prime Seafood, and Capital Burger brand names.

See Also

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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