Darden Restaurants (NYSE:DRI) PT Raised to $194.00

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

Several other equities research analysts have also commented on DRI. Wedbush upped their target price on Darden Restaurants from $170.00 to $200.00 and gave the company an outperform rating in a research report on Friday. Stifel Nicolaus cut their target price on Darden Restaurants from $190.00 to $180.00 and set a buy rating on the stock in a research report on Friday, June 21st. Jefferies Financial Group lowered Darden Restaurants from a hold rating to an underperform rating and cut their price target for the stock from $154.00 to $124.00 in a report on Thursday, July 11th. Truist Financial increased their price target on Darden Restaurants from $185.00 to $195.00 and gave the stock a buy rating in a report on Friday. Finally, Morgan Stanley increased their price target on Darden Restaurants from $175.00 to $188.00 and gave the stock an overweight rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Darden Restaurants currently has an average rating of Moderate Buy and an average target price of $179.28.

Darden Restaurants Trading Down 1.2 %

NYSE DRI opened at $170.17 on Friday. Darden Restaurants has a 12 month low of $133.36 and a 12 month high of $176.84. The company has a current ratio of 0.38, a quick ratio of 0.24 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average price is $150.90 and its two-hundred day moving average price is $153.19. The firm has a market capitalization of $20.31 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 1.76 and a beta of 1.30.

Darden Restaurants (NYSE:DRI) last announced 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 net margin of 9.02% and a return on equity of 49.82%. 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 previous year, the company earned $1.78 EPS. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts expect 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. Investors of record on Thursday, October 10th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 3.29%. This is an increase from Darden Restaurants’s previous quarterly dividend of $1.29. The ex-dividend date is Thursday, October 10th. Darden Restaurants’s dividend payout ratio (DPR) is presently 65.73%.

Insider Activity at Darden Restaurants

In related news, insider Melvin John Martin sold 2,500 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 11,691 shares of the company’s stock, valued at $1,649,483.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Melvin John Martin sold 2,500 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 11,691 shares of the company’s stock, valued at $1,649,483.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 sale, the senior vice president now directly owns 447 shares of the company’s stock, valued at $65,735.82. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by company 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 grew its holdings in Darden Restaurants by 39.7% during the fourth quarter. Cibc World Markets Corp now owns 30,344 shares of the restaurant operator’s stock valued at $4,986,000 after purchasing an additional 8,619 shares during the period. APG Asset Management US Inc. bought a new position in Darden Restaurants during the fourth quarter valued at $3,901,000. Russell Investments Group Ltd. grew its holdings in Darden Restaurants by 206.5% during the first quarter. Russell Investments Group Ltd. now owns 49,082 shares of the restaurant operator’s stock valued at $8,204,000 after purchasing an additional 33,066 shares during the period. Rise Advisors LLC grew its holdings in Darden Restaurants by 131.3% during the first quarter. Rise Advisors LLC now owns 155 shares of the restaurant operator’s stock valued at $26,000 after purchasing an additional 88 shares during the period. Finally, Nomura Holdings Inc. bought a new position in Darden Restaurants during the fourth quarter valued at $838,000. 93.64% of the stock is owned by institutional investors.

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.