Darden Restaurants (NYSE:DRI) PT Raised to $117.00

Darden Restaurants (NYSE:DRI) had its price target upped by Wells Fargo & Co from $116.00 to $117.00 in a research note published on Thursday, BenzingaRatingsTable reports. They currently have a market perform rating on the restaurant operator’s stock.

Other equities research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Darden Restaurants from a buy rating to a hold rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded shares of Darden Restaurants from a buy rating to a hold rating and set a $125.00 price objective for the company. in a research note on Wednesday, June 12th. Citigroup decreased their price objective on shares of Darden Restaurants from $146.00 to $144.00 and set a buy rating for the company in a research note on Friday, June 28th. Wedbush reiterated a hold rating and set a $125.00 price objective on shares of Darden Restaurants in a research note on Thursday, August 29th. Finally, MKM Partners started coverage on shares of Darden Restaurants in a research note on Tuesday, August 13th. They set a neutral rating and a $120.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $126.08.

DRI opened at $127.34 on Thursday. The company has a quick ratio of 0.46, a current ratio of 0.61 and a debt-to-equity ratio of 0.39. Darden Restaurants has a 52-week low of $95.83 and a 52-week high of $128.41. The company has a 50 day moving average of $121.68 and a two-hundred day moving average of $119.21. The company has a market cap of $15.52 billion, a P/E ratio of 21.88, a P/E/G ratio of 1.96 and a beta of 0.34.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Thursday, June 20th. The restaurant operator reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.03. Darden Restaurants had a net margin of 8.38% and a return on equity of 31.61%. The company had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the firm earned $1.39 earnings per share. Darden Restaurants’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts anticipate that Darden Restaurants will post 6.39 earnings per share for the current year.

In other news, COO David C. George sold 69,779 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $123.25, for a total value of $8,600,261.75. Following the completion of the transaction, the chief operating officer now directly owns 109,344 shares in the company, valued at $13,476,648. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John W. Madonna sold 1,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $124.12, for a total transaction of $124,120.00. Following the completion of the transaction, the senior vice president now owns 8,726 shares of the company’s stock, valued at $1,083,071.12. The disclosure for this sale can be found here. Insiders sold 96,907 shares of company stock valued at $11,975,585 over the last 90 days. Insiders own 0.47% of the company’s stock.

Several hedge funds have recently made changes to their positions in DRI. Penserra Capital Management LLC purchased a new position in shares of Darden Restaurants in the first quarter valued at $40,000. NuWave Investment Management LLC boosted its stake in Darden Restaurants by 34.5% during the 2nd quarter. NuWave Investment Management LLC now owns 351 shares of the restaurant operator’s stock valued at $43,000 after acquiring an additional 90 shares during the last quarter. Coastal Investment Advisors Inc. boosted its stake in Darden Restaurants by 115.6% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 373 shares of the restaurant operator’s stock valued at $45,000 after acquiring an additional 200 shares during the last quarter. Motco boosted its stake in Darden Restaurants by 125.5% during the 2nd quarter. Motco now owns 451 shares of the restaurant operator’s stock valued at $55,000 after acquiring an additional 251 shares during the last quarter. Finally, Kavar Capital Partners LLC bought a new position in Darden Restaurants during the 2nd quarter valued at $60,000. Institutional investors and hedge funds own 91.30% of the company’s stock.

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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Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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