Jefferies Financial Group Cuts Darden Restaurants (NYSE:DRI) Price Target to $200.00

Darden Restaurants (NYSE:DRI) had its price target decreased by Jefferies Financial Group from $210.00 to $200.00 in a research report report published on Monday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the restaurant operator’s stock.

Several other analysts have also recently commented on the company. JPMorgan Chase & Co. lowered their target price on Darden Restaurants from $240.00 to $230.00 and set an “overweight” rating on the stock in a research report on Monday, October 6th. Raymond James Financial lowered their price target on Darden Restaurants from $230.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, September 19th. Argus reduced their price objective on shares of Darden Restaurants from $260.00 to $220.00 and set a “buy” rating for the company in a report on Friday, September 19th. BTIG Research decreased their target price on shares of Darden Restaurants from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, September 19th. Finally, Wells Fargo & Company lowered their target price on shares of Darden Restaurants from $225.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Friday, September 19th. Nineteen analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $223.39.

Darden Restaurants Trading Up 2.1%

Shares of NYSE:DRI opened at $189.41 on Monday. The company has a market cap of $22.03 billion, a PE ratio of 20.30, a P/E/G ratio of 1.80 and a beta of 0.66. The company’s 50-day moving average price is $179.97 and its 200 day moving average price is $198.17. Darden Restaurants has a fifty-two week low of $159.67 and a fifty-two week high of $228.27. The company has a quick ratio of 0.27, a current ratio of 0.40 and a debt-to-equity ratio of 0.96.

Darden Restaurants (NYSE:DRI) last posted its earnings results on Thursday, September 18th. The restaurant operator reported $1.97 EPS for the quarter, missing the consensus estimate of $2.01 by ($0.04). The firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.03 billion. Darden Restaurants had a return on equity of 52.35% and a net margin of 8.90%.Darden Restaurants’s revenue for the quarter was up 10.4% on a year-over-year basis. During the same quarter last year, the company posted $1.75 EPS. Sell-side analysts anticipate that Darden Restaurants will post 9.52 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Matthew R. Broad sold 5,661 shares of the stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $193.40, for a total transaction of $1,094,837.40. Following the completion of the sale, the senior vice president directly owned 13,916 shares of the company’s stock, valued at $2,691,354.40. This represents a 28.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.49% of the stock is currently owned by corporate insiders.

Institutional Trading of Darden Restaurants

Several hedge funds and other institutional investors have recently modified their holdings of the business. Public Sector Pension Investment Board lifted its stake in Darden Restaurants by 7.9% in the 1st quarter. Public Sector Pension Investment Board now owns 15,865 shares of the restaurant operator’s stock worth $3,296,000 after acquiring an additional 1,155 shares in the last quarter. HighTower Advisors LLC grew its stake in Darden Restaurants by 1.6% during the 1st quarter. HighTower Advisors LLC now owns 17,734 shares of the restaurant operator’s stock valued at $3,684,000 after acquiring an additional 286 shares in the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Darden Restaurants by 2.7% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 2,970 shares of the restaurant operator’s stock valued at $617,000 after purchasing an additional 79 shares during the period. Horizon Investments LLC lifted its position in shares of Darden Restaurants by 4.3% in the first quarter. Horizon Investments LLC now owns 1,747 shares of the restaurant operator’s stock worth $360,000 after purchasing an additional 72 shares in the last quarter. Finally, Aberdeen Group plc boosted its holdings in shares of Darden Restaurants by 97.4% during the first quarter. Aberdeen Group plc now owns 74,856 shares of the restaurant operator’s stock worth $15,511,000 after purchasing an additional 36,935 shares during the period. Institutional investors and hedge funds own 93.64% of the company’s stock.

Darden Restaurants Company Profile

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.