Darden Restaurants (NYSE:DRI) had its target price hoisted by research analysts at Wells Fargo & Co from $108.00 to $109.00 in a note issued to investors on Thursday. The brokerage presently has a “market perform” rating on the restaurant operator’s stock. Wells Fargo & Co’s price target indicates a potential upside of 3.98% from the stock’s previous close.
Other research analysts also recently issued reports about the company. Argus increased their target price on Darden Restaurants to $240.00 and gave the company a “buy” rating in a research report on Thursday, September 13th. Goldman Sachs Group upgraded Darden Restaurants from a “neutral” rating to a “buy” rating and increased their target price for the company from $106.00 to $130.00 in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Zacks Investment Research downgraded Darden Restaurants from a “buy” rating to a “hold” rating in a research report on Monday, September 24th. Stifel Nicolaus raised their price target on Darden Restaurants from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, September 5th. Finally, Gordon Haskett began coverage on Darden Restaurants in a research report on Thursday, October 18th. They issued an “underperform” rating and a $94.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $119.84.
NYSE DRI opened at $104.83 on Thursday. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 0.41. The company has a market cap of $13.58 billion, a PE ratio of 21.79, a PEG ratio of 2.08 and a beta of 0.17. Darden Restaurants has a one year low of $82.38 and a one year high of $124.00.
Darden Restaurants (NYSE:DRI) last posted its earnings results on Thursday, September 20th. The restaurant operator reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.10. The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. Darden Restaurants had a return on equity of 30.32% and a net margin of 7.84%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 EPS. On average, sell-side analysts expect that Darden Restaurants will post 5.63 EPS for the current year.
In other news, insider Eugene I. Lee, Jr. sold 60,688 shares of Darden Restaurants stock in a transaction on Wednesday, September 26th. The stock was sold at an average price of $112.63, for a total transaction of $6,835,289.44. Following the completion of the sale, the insider now directly owns 147,561 shares in the company, valued at $16,619,795.43. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO David C. George sold 55,671 shares of Darden Restaurants stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $108.24, for a total value of $6,025,829.04. Following the sale, the chief operating officer now owns 95,236 shares of the company’s stock, valued at $10,308,344.64. The disclosure for this sale can be found here. 0.65% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in DRI. Raymond James Financial Services Advisors Inc. lifted its position in shares of Darden Restaurants by 10.2% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 28,856 shares of the restaurant operator’s stock worth $3,089,000 after purchasing an additional 2,662 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Darden Restaurants during the second quarter worth $992,000. TD Asset Management Inc. lifted its position in shares of Darden Restaurants by 48.5% during the second quarter. TD Asset Management Inc. now owns 108,090 shares of the restaurant operator’s stock worth $11,572,000 after purchasing an additional 35,326 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Darden Restaurants by 6.9% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 414,189 shares of the restaurant operator’s stock worth $44,343,000 after purchasing an additional 26,802 shares during the last quarter. Finally, Cognios Capital LLC lifted its position in shares of Darden Restaurants by 8.1% during the second quarter. Cognios Capital LLC now owns 28,016 shares of the restaurant operator’s stock worth $2,998,000 after purchasing an additional 2,105 shares during the last quarter. Institutional investors and hedge funds own 90.52% 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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