BTIG Research Raises Darden Restaurants (NYSE:DRI) Price Target to $195.00

Darden Restaurants (NYSE:DRI) had its target price increased by BTIG Research from $175.00 to $195.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the restaurant operator’s stock.

A number of other research firms have also commented on DRI. Evercore ISI raised shares of Darden Restaurants from an in-line rating to an outperform rating and lifted their price target for the company from $165.00 to $205.00 in a research report on Friday. UBS Group lifted their target price on shares of Darden Restaurants from $188.00 to $195.00 and gave the stock a buy rating in a report on Friday. Wedbush upped their price target on shares of Darden Restaurants from $170.00 to $200.00 and gave the company an outperform rating in a report on Friday. Sanford C. Bernstein lowered Darden Restaurants from an outperform rating to a market perform rating and dropped their price objective for the stock from $190.00 to $180.00 in a research note on Friday. Finally, Argus decreased their target price on Darden Restaurants from $186.00 to $175.00 and set a buy rating for the company in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $179.28.

Darden Restaurants Stock Up 1.5 %

DRI opened at $172.74 on Friday. The company has a market capitalization of $20.62 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.76 and a beta of 1.30. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.38 and a quick ratio of 0.24. Darden Restaurants has a fifty-two week low of $133.36 and a fifty-two week high of $176.84. The business has a 50-day moving average of $151.48 and a 200-day moving average of $153.18.

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

Darden Restaurants Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 3.24%. This is a positive change from Darden Restaurants’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Thursday, October 10th. Darden Restaurants’s dividend payout ratio (DPR) is presently 65.73%.

Insider Transactions at Darden Restaurants

In related news, SVP Sarah H. King sold 15,941 shares of the firm’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 transaction, the senior vice president now owns 447 shares in the company, valued at $65,735.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Sarah H. King sold 15,941 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $147.06, for a total value of $2,344,283.46. Following the transaction, the senior vice president now directly owns 447 shares in the company, valued at $65,735.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Melvin John Martin sold 2,500 shares of Darden Restaurants stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $141.09, for a total transaction of $352,725.00. Following the sale, 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 currently owned by corporate insiders.

Hedge Funds Weigh In On Darden Restaurants

Institutional investors have recently modified their holdings of the stock. Cornerstone Wealth Group LLC increased its holdings in Darden Restaurants by 0.4% during the first quarter. Cornerstone Wealth Group LLC now owns 16,550 shares of the restaurant operator’s stock worth $2,766,000 after buying an additional 66 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Darden Restaurants by 34.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 279 shares of the restaurant operator’s stock worth $43,000 after purchasing an additional 72 shares during the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Darden Restaurants by 5.6% in the 2nd quarter. EP Wealth Advisors LLC now owns 1,418 shares of the restaurant operator’s stock valued at $215,000 after purchasing an additional 75 shares during the period. GW Henssler & Associates Ltd. lifted its stake in Darden Restaurants by 4.9% in the 1st quarter. GW Henssler & Associates Ltd. now owns 1,640 shares of the restaurant operator’s stock valued at $274,000 after purchasing an additional 77 shares during the last quarter. Finally, United Community Bank grew its holdings in Darden Restaurants by 1.3% during the first quarter. United Community Bank now owns 5,918 shares of the restaurant operator’s stock worth $989,000 after purchasing an additional 78 shares during the period. 93.64% of the stock is currently owned by institutional investors and hedge funds.

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.