Darden Restaurants (NYSE:DRI) Given New $164.00 Price Target at Stephens

Darden Restaurants (NYSE:DRI) had its price objective upped by investment analysts at Stephens from $159.00 to $164.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the restaurant operator’s stock. Stephens’ price objective would suggest a potential downside of 3.63% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. Morgan Stanley reissued an “overweight” rating and set a $175.00 price objective on shares of Darden Restaurants in a research note on Friday, June 21st. Jefferies Financial Group downgraded Darden Restaurants from a “hold” rating to an “underperform” rating and dropped their price target for the company from $154.00 to $124.00 in a research report on Thursday, July 11th. Citigroup decreased their price objective on shares of Darden Restaurants from $192.00 to $191.00 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Piper Sandler dropped their target price on shares of Darden Restaurants from $163.00 to $159.00 and set a “neutral” rating for the company in a research report on Monday, July 22nd. Finally, Bank of America increased their price target on shares of Darden Restaurants from $180.00 to $185.00 and gave the stock a “buy” rating in a report on Friday, June 21st. One research 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $179.28.

Darden Restaurants Stock Down 1.2 %

DRI stock opened at $170.17 on Friday. The stock has a 50-day simple moving average of $150.90 and a two-hundred day simple moving average of $153.49. Darden Restaurants has a twelve month low of $133.36 and a twelve month high of $176.84. The firm has a market capitalization of $20.31 billion, a PE ratio of 19.97, a PEG ratio of 1.76 and a beta of 1.30. The company has a quick ratio of 0.24, a current ratio of 0.38 and a debt-to-equity ratio of 0.61.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data 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 net margin of 9.02% and a return on equity of 49.82%. The firm had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.80 billion. During the same period in the prior year, the firm posted $1.78 EPS. Darden Restaurants’s revenue was up 1.0% on a year-over-year basis. On average, equities analysts predict that Darden Restaurants will post 9.47 EPS for the current fiscal year.

Insider Buying and Selling at Darden Restaurants

In other Darden Restaurants news, insider Melvin John Martin sold 2,500 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $141.09, for a total value of $352,725.00. Following the transaction, the insider now owns 11,691 shares in the company, valued at $1,649,483.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Melvin John Martin sold 2,500 shares of the stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $141.09, for a total transaction of $352,725.00. Following the completion of the sale, the insider now directly owns 11,691 shares in the company, valued at $1,649,483.19. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Sarah H. King sold 15,941 shares of the business’s stock in a transaction dated 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 owns 447 shares in the company, valued at approximately $65,735.82. 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rise Advisors LLC boosted its holdings in Darden Restaurants by 131.3% in the first quarter. Rise Advisors LLC now owns 155 shares of the restaurant operator’s stock valued at $26,000 after acquiring an additional 88 shares in the last quarter. ESL Trust Services LLC purchased a new stake in shares of Darden Restaurants in the 1st quarter worth about $27,000. Meeder Asset Management Inc. bought a new stake in shares of Darden Restaurants during the 2nd quarter valued at about $27,000. Kimelman & Baird LLC purchased a new position in shares of Darden Restaurants during the second quarter valued at about $30,000. Finally, Innealta Capital LLC purchased a new position in shares of Darden Restaurants during the second quarter valued at about $31,000. Institutional investors own 93.64% of the company’s stock.

About Darden Restaurants

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.