Darden Restaurants (NYSE:DRI) Price Target Increased to $192.00 by Analysts at Barclays

Darden Restaurants (NYSE:DRI) had its target price raised by Barclays from $180.00 to $192.00 in a research report report published on Friday morning, Benzinga reports. Barclays currently has an overweight rating on the restaurant operator’s stock.

A number of other equities analysts have also recently commented on DRI. Citigroup reduced their price target on Darden Restaurants from $192.00 to $191.00 and set a buy rating for the company in a report on Tuesday, September 10th. JPMorgan Chase & Co. increased their price objective on shares of Darden Restaurants from $165.00 to $176.00 and gave the company an overweight rating in a research report on Friday. Stifel Nicolaus reduced their price objective on Darden Restaurants from $190.00 to $180.00 and set a buy rating for the company in a report on Friday, June 21st. Wedbush boosted their price target on Darden Restaurants from $170.00 to $200.00 and gave the company an outperform rating in a research note on Friday. Finally, Raymond James reissued an outperform rating and issued a $160.00 price objective on shares of Darden Restaurants in a report on Tuesday, August 20th. 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.com, the company currently has an average rating of Moderate Buy and an average target price of $179.28.

Darden Restaurants Stock Performance

Shares of Darden Restaurants stock opened at $172.74 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.38 and a quick ratio of 0.24. The firm has a market cap of $20.62 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 1.76 and a beta of 1.30. The stock’s 50-day moving average is $151.48 and its 200-day moving average is $153.18. Darden Restaurants has a one year low of $133.36 and a one year high of $176.84.

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

Darden Restaurants Increases Dividend

The business also recently disclosed 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 yield of 3.24%. This is a boost from Darden Restaurants’s previous quarterly dividend of $1.29. The ex-dividend date is Thursday, October 10th. Darden Restaurants’s dividend payout ratio is currently 65.73%.

Insider Buying and Selling at Darden Restaurants

In other news, insider Melvin John Martin sold 2,500 shares of the company’s stock in a transaction that occurred on 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 owns 11,691 shares of the company’s stock, valued at $1,649,483.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Melvin John Martin sold 2,500 shares of the firm’s 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 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Sarah H. King sold 15,941 shares of the company’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 completion of the sale, 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. Company insiders own 0.85% of the company’s stock.

Hedge Funds Weigh In On Darden Restaurants

Hedge funds have recently bought and sold shares of the company. Rise Advisors LLC increased 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 worth $26,000 after purchasing an additional 88 shares in the last quarter. ESL Trust Services LLC acquired a new stake in shares of Darden Restaurants in the 1st quarter valued at about $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Darden Restaurants in the 2nd quarter valued at about $27,000. Kimelman & Baird LLC bought a new stake in shares of Darden Restaurants during the second quarter valued at approximately $30,000. Finally, Innealta Capital LLC bought a new position in shares of Darden Restaurants in the 2nd quarter worth $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.