Barclays Issues Positive Forecast for Darden Restaurants (NYSE:DRI) Stock Price

Darden Restaurants (NYSE:DRI) had its price target increased by Barclays from $192.00 to $206.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an overweight rating on the restaurant operator’s stock.

Several other research analysts have also issued reports on the company. Morgan Stanley increased their target price on Darden Restaurants from $175.00 to $188.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. TD Cowen reiterated a “hold” rating and issued a $150.00 price objective on shares of Darden Restaurants in a report on Thursday, September 19th. Piper Sandler boosted their target price on shares of Darden Restaurants from $159.00 to $177.00 and gave the company a “neutral” rating in a report on Friday, September 20th. Truist Financial upped their price target on Darden Restaurants from $185.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. Finally, BTIG Research raised their price target on Darden Restaurants from $175.00 to $195.00 and gave the company a “buy” rating in a report on Friday, September 20th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $186.60.

Darden Restaurants Price Performance

Shares of Darden Restaurants stock opened at $187.59 on Friday. The company’s fifty day simple moving average is $166.25 and its two-hundred day simple moving average is $156.99. Darden Restaurants has a 12-month low of $135.87 and a 12-month high of $188.88. The firm has a market cap of $22.04 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 1.90 and a beta of 1.31. The company has a quick ratio of 0.22, a current ratio of 0.35 and a debt-to-equity ratio of 0.65.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Thursday, December 19th. The restaurant operator reported $2.03 earnings per share for the quarter, meeting the consensus estimate of $2.03. Darden Restaurants had a net margin of 9.11% and a return on equity of 49.46%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same quarter in the previous year, the business posted $1.84 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts expect that Darden Restaurants will post 9.47 EPS for the current year.

Darden Restaurants Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $1.40 dividend. The ex-dividend date is Friday, January 10th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.99%. Darden Restaurants’s dividend payout ratio (DPR) is currently 64.59%.

Insider Activity at Darden Restaurants

In other Darden Restaurants news, CEO Ricardo Cardenas sold 42,403 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $171.68, for a total value of $7,279,747.04. Following the transaction, the chief executive officer now directly owns 58,685 shares in the company, valued at approximately $10,075,040.80. This trade represents a 41.95 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Douglas J. Milanes sold 5,705 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $172.04, for a total value of $981,488.20. Following the sale, the senior vice president now directly owns 3,834 shares of the company’s stock, valued at $659,601.36. This represents a 59.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,265 shares of company stock worth $10,116,030. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On Darden Restaurants

Hedge funds have recently modified their holdings of the company. Farther Finance Advisors LLC grew its stake in Darden Restaurants by 9.8% during the third quarter. Farther Finance Advisors LLC now owns 697 shares of the restaurant operator’s stock valued at $114,000 after acquiring an additional 62 shares in the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of Darden Restaurants by 11.4% in the third quarter. Rosenberg Matthew Hamilton now owns 676 shares of the restaurant operator’s stock worth $111,000 after buying an additional 69 shares in the last quarter. Metis Global Partners LLC boosted its stake in Darden Restaurants by 1.9% during the third quarter. Metis Global Partners LLC now owns 3,833 shares of the restaurant operator’s stock valued at $629,000 after buying an additional 73 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in Darden Restaurants by 5.6% during the 2nd quarter. EP Wealth Advisors LLC now owns 1,418 shares of the restaurant operator’s stock valued at $215,000 after buying an additional 75 shares in the last quarter. Finally, 1620 Investment Advisors Inc. increased its stake in Darden Restaurants by 4.4% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 1,835 shares of the restaurant operator’s stock worth $301,000 after acquiring an additional 78 shares during the last quarter. 93.64% of the stock is currently 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.