Darden Restaurants (DRI) Price Target Raised to $125.00

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Darden Restaurants (NYSE:DRI) had its price objective boosted by investment analysts at Mizuho from $115.00 to $125.00 in a note issued to investors on Friday, September 21st, Marketbeat Ratings reports. The firm currently has a “buy” rating on the restaurant operator’s stock. Mizuho’s price target would indicate a potential upside of 17.09% from the company’s previous close.

Several other equities research analysts have also commented on DRI. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research note on Friday, May 25th. ValuEngine upgraded Darden Restaurants from a “sell” rating to a “hold” rating in a research report on Tuesday, May 29th. SunTrust Banks upgraded Darden Restaurants from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $104.00 to $110.00 in a research report on Wednesday, June 6th. Stifel Nicolaus lifted their price objective on Darden Restaurants to $115.00 and gave the stock a “buy” rating in a research report on Thursday, June 21st. Finally, Bank of America upgraded Darden Restaurants from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $88.00 to $108.00 in a research report on Friday, June 22nd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the stock. Darden Restaurants presently has a consensus rating of “Buy” and a consensus target price of $119.65.

Shares of NYSE DRI traded up $2.71 during midday trading on Friday, reaching $106.76. 1,669,483 shares of the company were exchanged, compared to its average volume of 1,525,153. The firm has a market cap of $13.74 billion, a P/E ratio of 22.20, a P/E/G ratio of 2.11 and a beta of 0.17. The company has a quick ratio of 0.26, a current ratio of 0.41 and a debt-to-equity ratio of 0.41. Darden Restaurants has a 1 year low of $78.83 and a 1 year high of $124.00.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Thursday, September 20th. The restaurant operator reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.10. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.99 EPS. As a group, analysts anticipate that Darden Restaurants will post 5.63 earnings per share for the current year.

In other news, SVP Douglas J. Milanes sold 2,186 shares of the business’s stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $111.06, for a total transaction of $242,777.16. Following the completion of the sale, the senior vice president now directly owns 792 shares of the company’s stock, valued at approximately $87,959.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO David C. George sold 55,671 shares of the company’s stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $108.24, for a total transaction of $6,025,829.04. Following the sale, the chief operating officer now directly owns 95,236 shares of the company’s stock, valued at $10,308,344.64. The disclosure for this sale can be found here. Insiders have sold a total of 118,545 shares of company stock valued at $13,103,896 over the last three months. Corporate insiders own 0.65% of the company’s stock.

A number of institutional investors have recently made changes to their positions in DRI. Commonwealth Bank of Australia boosted its position in Darden Restaurants by 3.1% in the 2nd quarter. Commonwealth Bank of Australia now owns 15,345 shares of the restaurant operator’s stock valued at $1,637,000 after buying an additional 459 shares during the last quarter. Advisory Services Network LLC boosted its position in Darden Restaurants by 21.1% in the 2nd quarter. Advisory Services Network LLC now owns 2,708 shares of the restaurant operator’s stock valued at $290,000 after buying an additional 471 shares during the last quarter. Atria Investments LLC boosted its position in Darden Restaurants by 2.6% in the 3rd quarter. Atria Investments LLC now owns 18,561 shares of the restaurant operator’s stock valued at $2,064,000 after buying an additional 473 shares during the last quarter. Catawba Capital Management VA boosted its position in Darden Restaurants by 5.4% in the 2nd quarter. Catawba Capital Management VA now owns 10,225 shares of the restaurant operator’s stock valued at $1,095,000 after buying an additional 520 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in Darden Restaurants by 29.7% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,335 shares of the restaurant operator’s stock valued at $250,000 after buying an additional 535 shares during the last quarter. 89.50% of the stock is owned by hedge funds and other institutional investors.

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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