Darden Restaurants (NYSE:DRI) Price Target Raised to $100.00

Darden Restaurants (NYSE:DRI) had its price objective boosted by Stifel Nicolaus from $87.00 to $100.00 in a research report released on Friday morning, The Fly reports.

A number of other brokerages have also recently commented on DRI. Wedbush cut Darden Restaurants from an outperform rating to a neutral rating and boosted their price target for the stock from $88.00 to $95.00 in a research report on Monday, September 21st. They noted that the move was a valuation call. Jefferies Financial Group reissued a hold rating and issued a $75.00 price target on shares of Darden Restaurants in a research report on Friday, June 26th. Zacks Investment Research cut Darden Restaurants from a buy rating to a hold rating and set a $95.00 price target on the stock. in a research report on Thursday. Robert W. Baird dropped their price target on Darden Restaurants from $90.00 to $82.00 and set a neutral rating on the stock in a research report on Friday, June 26th. Finally, Credit Suisse Group boosted their price target on Darden Restaurants from $95.00 to $112.00 and gave the stock an outperform rating in a research report on Friday. Fifteen analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Darden Restaurants currently has a consensus rating of Buy and a consensus price target of $99.48.

Darden Restaurants stock opened at $97.17 on Friday. The stock’s 50 day simple moving average is $86.51 and its two-hundred day simple moving average is $74.21. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.61. The stock has a market cap of $12.62 billion, a price-to-earnings ratio of -242.93, a PEG ratio of 2.13 and a beta of 1.34. Darden Restaurants has a fifty-two week low of $26.15 and a fifty-two week high of $124.01.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, September 24th. The restaurant operator reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.51. Darden Restaurants had a positive return on equity of 16.68% and a negative net margin of 0.67%. The business had revenue of $1.53 billion for the quarter, compared to analysts’ expectations of $1.55 billion. During the same period in the previous year, the firm posted $1.38 EPS. The business’s revenue was down 28.6% on a year-over-year basis. On average, analysts predict that Darden Restaurants will post 2.93 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $1.20 annualized dividend and a dividend yield of 1.23%.

Large investors have recently bought and sold shares of the company. Howland Capital Management LLC purchased a new stake in shares of Darden Restaurants in the 2nd quarter worth $310,000. Principal Financial Group Inc. increased its stake in shares of Darden Restaurants by 3.4% in the 2nd quarter. Principal Financial Group Inc. now owns 202,735 shares of the restaurant operator’s stock worth $15,361,000 after purchasing an additional 6,611 shares in the last quarter. Kinneret Advisory LLC purchased a new stake in shares of Darden Restaurants in the 2nd quarter worth $239,000. Sowell Financial Services LLC increased its stake in shares of Darden Restaurants by 2.7% in the 1st quarter. Sowell Financial Services LLC now owns 6,068 shares of the restaurant operator’s stock worth $330,000 after purchasing an additional 157 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Darden Restaurants by 16.1% in the 1st quarter. The Manufacturers Life Insurance Company now owns 134,189 shares of the restaurant operator’s stock worth $7,308,000 after purchasing an additional 18,651 shares in the last quarter. Hedge funds and other institutional investors own 88.70% 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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