Darden Restaurants, Inc. (NYSE:DRI) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Darden Restaurants, Inc. (NYSE:DRI) have received an average recommendation of “Moderate Buy” from the twenty-seven research firms that are presently covering the stock, Marketbeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $226.24.

Several research analysts have recently commented on DRI shares. Bank of America lifted their price objective on Darden Restaurants from $261.00 to $262.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Robert W. Baird lifted their price objective on Darden Restaurants from $208.00 to $215.00 and gave the stock a “neutral” rating in a report on Friday, March 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on Darden Restaurants from $222.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Wells Fargo & Company lifted their price objective on Darden Restaurants from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Friday, March 20th. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Darden Restaurants in a report on Friday, March 13th.

Darden Restaurants Stock Up 0.8%

DRI opened at $196.15 on Friday. The stock has a market cap of $22.47 billion, a PE ratio of 20.76, a P/E/G ratio of 1.85 and a beta of 0.61. The company has a quick ratio of 0.25, a current ratio of 0.39 and a debt-to-equity ratio of 1.02. Darden Restaurants has a 52 week low of $169.00 and a 52 week high of $228.27. The business’s fifty day simple moving average is $198.34 and its 200 day simple moving average is $195.08.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings data on Thursday, March 19th. The restaurant operator reported $2.95 EPS for the quarter, topping the consensus estimate of $2.94 by $0.01. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.33 billion. Darden Restaurants had a return on equity of 53.54% and a net margin of 8.66%.The company’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.80 earnings per share. As a group, research analysts expect that Darden Restaurants will post 10.61 earnings per share for the current fiscal year.

Darden Restaurants Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 10th were paid a $1.50 dividend. The ex-dividend date of this dividend was Friday, April 10th. This represents a $6.00 annualized dividend and a dividend yield of 3.1%. Darden Restaurants’s dividend payout ratio (DPR) is presently 63.49%.

Insider Activity

In related news, SVP Lindsay L. Koren sold 300 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $194.32, for a total value of $58,296.00. Following the sale, the senior vice president directly owned 1,617 shares of the company’s stock, valued at $314,215.44. This trade represents a 15.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Douglas J. Milanes sold 3,620 shares of the firm’s stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $202.16, for a total value of $731,819.20. Following the completion of the sale, the senior vice president directly owned 274 shares in the company, valued at $55,391.84. The trade was a 92.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.49% of the stock is owned by company insiders.

Institutional Trading of Darden Restaurants

Several large investors have recently modified their holdings of the business. Torren Management LLC bought a new stake in Darden Restaurants during the 4th quarter valued at approximately $26,000. Quent Capital LLC bought a new stake in Darden Restaurants during the 3rd quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. boosted its position in Darden Restaurants by 926.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 154 shares of the restaurant operator’s stock valued at $28,000 after acquiring an additional 139 shares in the last quarter. Union Savings Bank bought a new stake in Darden Restaurants during the 4th quarter valued at approximately $28,000. Finally, BOK Financial Private Wealth Inc. bought a new stake in Darden Restaurants during the 4th quarter valued at approximately $29,000. 93.64% of the stock is owned by institutional investors.

About Darden Restaurants

Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.

Darden’s restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand’s positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.