KeyCorp Boosts Darden Restaurants (NYSE:DRI) Price Target to $194.00

Darden Restaurants (NYSE:DRI) had its price target increased by KeyCorp from $170.00 to $194.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

Other analysts also recently issued reports about the company. Morgan Stanley boosted their price target on Darden Restaurants from $175.00 to $188.00 and gave the company an overweight rating in a research note on Friday. UBS Group boosted their price target on Darden Restaurants from $188.00 to $195.00 and gave the company a buy rating in a research note on Friday. Sanford C. Bernstein downgraded Darden Restaurants from an outperform rating to a market perform rating and reduced their price target for the company from $190.00 to $180.00 in a research note on Friday. Stephens boosted their price target on Darden Restaurants from $159.00 to $164.00 and gave the company an equal weight rating in a research note on Friday. Finally, TD Cowen restated a hold rating and issued a $150.00 price target on shares of Darden Restaurants in a research note on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, Darden Restaurants presently has a consensus rating of Moderate Buy and a consensus price target of $179.28.

Darden Restaurants Stock Performance

Shares of NYSE DRI opened at $170.17 on Friday. The company has a current ratio of 0.38, a quick ratio of 0.24 and a debt-to-equity ratio of 0.61. Darden Restaurants has a 12 month low of $133.36 and a 12 month high of $176.84. The stock has a 50 day moving average of $150.90 and a 200-day moving average of $153.19. The company has a market capitalization of $20.31 billion, a P/E ratio of 19.97, a P/E/G ratio of 1.76 and a beta of 1.30.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, September 19th. The restaurant operator reported $1.75 EPS for the quarter, missing the consensus estimate of $1.83 by ($0.08). Darden Restaurants had a return on equity of 49.82% and a net margin of 9.02%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The business’s revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts predict that Darden Restaurants will post 9.47 EPS for the current year.

Darden Restaurants Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.29%. This is a boost from Darden Restaurants’s previous quarterly dividend of $1.29. Darden Restaurants’s payout ratio is 65.73%.

Insider Transactions at Darden Restaurants

In other Darden Restaurants news, SVP Sarah H. King sold 15,941 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $147.06, for a total value of $2,344,283.46. Following the completion of the transaction, the senior vice president now owns 447 shares of the company’s stock, valued at approximately $65,735.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Darden Restaurants news, SVP Sarah H. King sold 15,941 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $147.06, for a total value of $2,344,283.46. Following the completion of the transaction, the senior vice president now owns 447 shares of the company’s stock, valued at approximately $65,735.82. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Melvin John Martin sold 2,500 shares of the company’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $141.09, for a total value of $352,725.00. Following the completion of the transaction, the insider now directly owns 11,691 shares of the company’s stock, valued at approximately $1,649,483.19. The disclosure for this sale can be found here. 0.85% of the stock is owned by insiders.

Hedge Funds Weigh In On Darden Restaurants

Institutional investors and hedge funds have recently bought and sold shares of the company. Cibc World Markets Corp increased its holdings in Darden Restaurants by 39.7% in the 4th quarter. Cibc World Markets Corp now owns 30,344 shares of the restaurant operator’s stock worth $4,986,000 after purchasing an additional 8,619 shares in the last quarter. APG Asset Management US Inc. bought a new stake in shares of Darden Restaurants in the 4th quarter valued at about $3,901,000. Russell Investments Group Ltd. grew its position in shares of Darden Restaurants by 206.5% in the 1st quarter. Russell Investments Group Ltd. now owns 49,082 shares of the restaurant operator’s stock valued at $8,204,000 after buying an additional 33,066 shares during the last quarter. Rise Advisors LLC grew its position in shares of Darden Restaurants by 131.3% in the 1st quarter. Rise Advisors LLC now owns 155 shares of the restaurant operator’s stock valued at $26,000 after buying an additional 88 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Darden Restaurants in the 4th quarter valued at about $838,000. 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.