Darden Restaurants (NYSE:DRI) had its target price raised by analysts at Wells Fargo & Co from $116.00 to $117.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has a “market perform” rating on the restaurant operator’s stock. Wells Fargo & Co‘s price target would suggest a potential downside of 8.02% from the company’s previous close.
Several other analysts also recently issued reports on the company. Maxim Group downgraded Darden Restaurants from a “buy” rating to a “hold” rating and set a $126.00 price target on the stock. in a research note on Tuesday, July 16th. Deutsche Bank started coverage on Darden Restaurants in a research note on Friday, June 28th. They issued a “hold” rating and a $123.00 price target on the stock. Evercore ISI started coverage on Darden Restaurants in a research note on Tuesday, June 11th. They issued an “outperform” rating and a $135.00 price target on the stock. MKM Partners started coverage on Darden Restaurants in a research note on Tuesday, August 13th. They issued a “neutral” rating and a $120.00 price target on the stock. Finally, ValuEngine downgraded Darden Restaurants from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. Darden Restaurants presently has a consensus rating of “Buy” and a consensus price target of $130.82.
DRI opened at $127.20 on Thursday. The business’s 50-day moving average price is $121.62 and its two-hundred day moving average price is $119.14. Darden Restaurants has a 1 year low of $95.83 and a 1 year high of $127.99. The company has a market capitalization of $15.74 billion, a price-to-earnings ratio of 21.86, a P/E/G ratio of 1.98 and a beta of 0.34. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.61 and a quick ratio of 0.46.
Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Thursday, June 20th. The restaurant operator reported $1.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.03. Darden Restaurants had a return on equity of 31.61% and a net margin of 8.38%. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the business posted $1.39 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. Sell-side analysts anticipate that Darden Restaurants will post 6.39 earnings per share for the current fiscal year.
In related news, CFO Ricardo Cardenas sold 14,128 shares of Darden Restaurants stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $124.87, for a total transaction of $1,764,163.36. Following the completion of the transaction, the chief financial officer now owns 23,848 shares in the company, valued at $2,977,899.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John W. Madonna sold 1,000 shares of Darden Restaurants stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $124.12, for a total value of $124,120.00. Following the transaction, the senior vice president now owns 8,726 shares of the company’s stock, valued at approximately $1,083,071.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,907 shares of company stock worth $11,975,585. 0.47% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the stock. Penserra Capital Management LLC bought a new position in Darden Restaurants during the first quarter worth about $40,000. NuWave Investment Management LLC grew its holdings in Darden Restaurants by 34.5% during the second quarter. NuWave Investment Management LLC now owns 351 shares of the restaurant operator’s stock worth $43,000 after purchasing an additional 90 shares during the period. Coastal Investment Advisors Inc. grew its holdings in Darden Restaurants by 115.6% during the second quarter. Coastal Investment Advisors Inc. now owns 373 shares of the restaurant operator’s stock worth $45,000 after purchasing an additional 200 shares during the period. Motco grew its holdings in Darden Restaurants by 125.5% during the second quarter. Motco now owns 451 shares of the restaurant operator’s stock worth $55,000 after purchasing an additional 251 shares during the period. Finally, Kavar Capital Partners LLC bought a new position in Darden Restaurants during the second quarter worth about $60,000. Institutional investors and hedge funds own 91.28% of the company’s stock.
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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