Mizuho Forecasts Strong Price Appreciation for Darden Restaurants (NYSE:DRI) Stock

Darden Restaurants (NYSE:DRI) had its price target increased by stock analysts at Mizuho from $235.00 to $245.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The firm currently has an “outperform” rating on the restaurant operator’s stock. Mizuho’s price objective suggests a potential upside of 24.53% from the stock’s previous close.

Several other research analysts have also commented on DRI. Seaport Research Partners assumed coverage on Darden Restaurants in a research report on Wednesday, September 16th. They issued a “buy” rating and a $240.00 price target for the company. Morgan Stanley increased their price target on Darden Restaurants from $236.00 to $255.00 and gave the company an “overweight” rating in a research note on Monday, September 14th. Oppenheimer boosted their price target on Darden Restaurants from $235.00 to $245.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 15th. Bank of America upped their price objective on shares of Darden Restaurants from $272.00 to $276.00 and gave the company a “buy” rating in a report on Friday, June 5th. Finally, Robert W. Baird raised shares of Darden Restaurants from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $220.00 to $250.00 in a report on Monday, August 24th. Eighteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.38.

Darden Restaurants Trading Down 1.5%

Shares of NYSE DRI traded down $3.01 during midday trading on Friday, hitting $196.74. The company’s stock had a trading volume of 579,839 shares, compared to its average volume of 1,340,081. The company has a current ratio of 0.30, a quick ratio of 0.20 and a debt-to-equity ratio of 0.79. The business’s 50 day moving average is $212.04 and its two-hundred day moving average is $204.74. Darden Restaurants has a 12-month low of $169.00 and a 12-month high of $229.76. The firm has a market cap of $22.44 billion, a P/E ratio of 19.23, a price-to-earnings-growth ratio of 1.88 and a beta of 0.60.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Thursday, September 24th. The restaurant operator reported $2.05 earnings per share for the quarter, meeting the consensus estimate of $2.05. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.21 billion. Darden Restaurants had a net margin of 8.85% and a return on equity of 58.64%. The company’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.97 earnings per share. Darden Restaurants has set its FY 2027 guidance at 11.100-11.350 EPS. As a group, equities research analysts expect that Darden Restaurants will post 11.25 EPS for the current year.

Insiders Place Their Bets

In other Darden Restaurants news, CFO Rajesh Vennam sold 8,478 shares of the business’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $210.00, for a total transaction of $1,780,380.00. Following the transaction, the chief financial officer owned 8,569 shares of the company’s stock, valued at approximately $1,799,490. The trade was a 49.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Susan M. Connelly sold 2,226 shares of the business’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $208.17, for a total transaction of $463,386.42. Following the completion of the transaction, the senior vice president owned 4,165 shares in the company, valued at $867,028.05. The trade was a 34.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 70,185 shares of company stock valued at $14,636,984. 0.67% of the stock is owned by company insiders.

Institutional Investors Weigh In On Darden Restaurants

Institutional investors and hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. grew its holdings in shares of Darden Restaurants by 881.2% in the second quarter. QRG Capital Management Inc. now owns 47,136 shares of the restaurant operator’s stock valued at $9,710,000 after purchasing an additional 42,332 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Darden Restaurants by 118.1% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 6,122 shares of the restaurant operator’s stock worth $1,261,000 after buying an additional 3,315 shares during the last quarter. Tidal Investments LLC raised its holdings in Darden Restaurants by 34.9% during the second quarter. Tidal Investments LLC now owns 26,408 shares of the restaurant operator’s stock worth $5,440,000 after purchasing an additional 6,830 shares in the last quarter. National Pension Service lifted its position in Darden Restaurants by 637.5% in the second quarter. National Pension Service now owns 249,346 shares of the restaurant operator’s stock valued at $51,368,000 after acquiring an additional 215,537 shares during the last quarter. Finally, WINTON GROUP Ltd purchased a new stake in shares of Darden Restaurants in the 2nd quarter valued at about $1,355,000. Hedge funds and other institutional investors own 93.64% of the company’s stock.

About Darden Restaurants

Darden Restaurants, Inc (NYSE: DRI) is a full-service restaurant company headquartered in Orlando, Florida. It operates and franchises a portfolio of dining brands serving a range of cuisines, price points and occasions, with restaurants primarily located in the United States and select international markets.

Its restaurant portfolio includes Olive Garden, an Italian-American dining chain; LongHorn Steakhouse; Cheddar’s Scratch Kitchen; Yard House; The Capital Grille; Seasons 52; Bahama Breeze; Eddie V’s; Ruth’s Chris Steak House; and Chuy’s.