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

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

Several other brokerages have also recently commented on DRI. Citigroup decreased their target price on shares of Darden Restaurants from $146.00 to $144.00 and set a buy rating for the company in a report on Friday, June 28th. Wedbush reiterated a hold rating and issued a $125.00 target price on shares of Darden Restaurants in a report on Thursday, August 29th. Evercore ISI assumed coverage on shares of Darden Restaurants in a report on Tuesday, June 11th. They issued an outperform rating and a $135.00 target price for the company. MKM Partners assumed coverage on shares of Darden Restaurants in a report on Tuesday, August 13th. They issued a neutral rating and a $120.00 target price for the company. Finally, Deutsche Bank assumed coverage on shares of Darden Restaurants in a report on Friday, June 28th. They issued a hold rating and a $123.00 target price for the company. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $126.08.

NYSE:DRI opened at $127.34 on Thursday. Darden Restaurants has a twelve month low of $95.83 and a twelve month high of $128.41. The company has a current ratio of 0.61, a quick ratio of 0.46 and a debt-to-equity ratio of 0.39. The company has a 50-day moving average of $121.68 and a 200-day moving average of $119.21. The firm has a market cap of $15.52 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 1.96 and a beta of 0.34.

Darden Restaurants (NYSE:DRI) last announced its earnings results on Thursday, June 20th. The restaurant operator reported $1.76 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 analysts’ expectations of $2.24 billion. During the same period last year, the company posted $1.39 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, research analysts forecast that Darden Restaurants will post 6.39 earnings per share for the current year.

In related news, SVP John W. Madonna sold 1,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 8,726 shares of the company’s stock, valued at $1,083,071.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ricardo Cardenas sold 14,128 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $124.87, for a total transaction of $1,764,163.36. Following the transaction, the chief financial officer now directly owns 23,848 shares in the company, valued at approximately $2,977,899.76. 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 three months. 0.47% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of DRI. Dimensional Fund Advisors LP raised its position in Darden Restaurants by 1.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 727,300 shares of the restaurant operator’s stock valued at $72,624,000 after acquiring an additional 13,527 shares in the last quarter. Geode Capital Management LLC raised its position in Darden Restaurants by 11.6% during the fourth quarter. Geode Capital Management LLC now owns 1,825,671 shares of the restaurant operator’s stock valued at $182,031,000 after acquiring an additional 189,466 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Darden Restaurants by 31.4% during the first quarter. Janney Montgomery Scott LLC now owns 12,326 shares of the restaurant operator’s stock valued at $1,497,000 after acquiring an additional 2,945 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its position in Darden Restaurants by 3.8% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 12,273 shares of the restaurant operator’s stock valued at $1,491,000 after acquiring an additional 444 shares in the last quarter. Finally, CIBC Asset Management Inc raised its position in Darden Restaurants by 1.5% during the first quarter. CIBC Asset Management Inc now owns 16,527 shares of the restaurant operator’s stock valued at $2,008,000 after acquiring an additional 244 shares in the last quarter. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

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.

Recommended Story: Sell-Side Analysts

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.