UBS Group Issues Positive Forecast for Darden Restaurants (NYSE:DRI) Stock Price

Darden Restaurants (NYSE:DRI) had its price target upped by equities research analysts at UBS Group from $225.00 to $245.00 in a report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the restaurant operator’s stock. UBS Group’s price objective suggests a potential upside of 9.75% from the company’s current price.

Several other brokerages have also recently issued reports on DRI. Wedbush raised their target price on shares of Darden Restaurants from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. Citigroup raised their target price on Darden Restaurants from $223.00 to $229.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. Wall Street Zen raised Darden Restaurants from a “hold” rating to a “buy” rating in a report on Saturday, May 24th. Wells Fargo & Company lifted their price objective on shares of Darden Restaurants from $180.00 to $200.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. Finally, BMO Capital Markets raised their price target on shares of Darden Restaurants from $175.00 to $190.00 and gave the stock a “market perform” rating in a research note on Friday, March 21st. Nine equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Darden Restaurants has an average rating of “Moderate Buy” and a consensus target price of $206.69.

Darden Restaurants Stock Up 2.6%

DRI traded up $5.73 during trading on Monday, reaching $223.23. The stock had a trading volume of 247,404 shares, compared to its average volume of 1,321,170. The stock’s 50 day moving average is $205.23 and its two-hundred day moving average is $194.49. Darden Restaurants has a one year low of $135.87 and a one year high of $223.56. The company has a market capitalization of $26.12 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 2.15 and a beta of 0.75. The company has a current ratio of 0.37, a quick ratio of 0.23 and a debt-to-equity ratio of 1.02.

Darden Restaurants (NYSE:DRI) last released its earnings results on Thursday, March 20th. The restaurant operator reported $2.80 EPS for the quarter, hitting the consensus estimate of $2.80. The business had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.22 billion. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the previous year, the company posted $2.60 earnings per share. As a group, analysts expect that Darden Restaurants will post 9.52 earnings per share for the current year.

Insider Transactions at Darden Restaurants

In other Darden Restaurants news, insider Laura B. Williamson sold 2,289 shares of Darden Restaurants stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $207.26, for a total value of $474,418.14. Following the completion of the sale, the insider now owns 10,056 shares in the company, valued at $2,084,206.56. The trade was a 18.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ricardo Cardenas sold 20,518 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $208.19, for a total transaction of $4,271,642.42. Following the transaction, the chief executive officer now owns 58,836 shares in the company, valued at approximately $12,249,066.84. The trade was a 25.86% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,613 shares of company stock worth $5,121,492. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Darden Restaurants

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Investment Management LLC acquired a new position in Darden Restaurants in the fourth quarter valued at about $25,000. TCTC Holdings LLC bought a new stake in Darden Restaurants during the 4th quarter worth approximately $28,000. Grove Bank & Trust increased its position in Darden Restaurants by 171.4% in the 1st quarter. Grove Bank & Trust now owns 133 shares of the restaurant operator’s stock valued at $28,000 after acquiring an additional 84 shares during the period. ORG Partners LLC lifted its holdings in shares of Darden Restaurants by 108.8% during the first quarter. ORG Partners LLC now owns 142 shares of the restaurant operator’s stock worth $30,000 after purchasing an additional 74 shares during the period. Finally, Centennial Bank AR acquired a new position in shares of Darden Restaurants during the first quarter worth $31,000. 93.64% of the stock is owned by institutional investors and hedge funds.

About Darden Restaurants

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.