Stifel Nicolaus Raises Darden Restaurants (DRI) Price Target to $125.00

Darden Restaurants (NYSE:DRI) had its price objective upped by investment analysts at Stifel Nicolaus from $115.00 to $125.00 in a research note issued on Wednesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Stifel Nicolaus’ target price points to a potential upside of 5.21% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Oppenheimer upped their price target on shares of Darden Restaurants from $105.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, June 26th. Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a research report on Wednesday, August 22nd. ValuEngine upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating in a research report on Friday, June 22nd. SunTrust Banks upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and upped their price target for the company from $104.00 to $110.00 in a research report on Wednesday, June 6th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $120.00 price target on shares of Darden Restaurants in a research report on Monday, July 23rd. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $112.00.

DRI stock opened at $118.81 on Wednesday. Darden Restaurants has a 12 month low of $76.27 and a 12 month high of $119.41. The company has a market cap of $14.69 billion, a P/E ratio of 24.70, a price-to-earnings-growth ratio of 2.31 and a beta of 0.15. The company has a quick ratio of 0.25, a current ratio of 0.40 and a debt-to-equity ratio of 0.42.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Thursday, June 21st. The restaurant operator reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.35 by $0.04. The business had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.13 billion. Darden Restaurants had a net margin of 7.38% and a return on equity of 29.02%. The firm’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 EPS. equities analysts predict that Darden Restaurants will post 5.5 earnings per share for the current fiscal year.

In other Darden Restaurants news, SVP John W. Madonna sold 700 shares of the company’s stock in a transaction that occurred on Monday, June 25th. The shares were sold at an average price of $109.21, for a total value of $76,447.00. Following the transaction, the senior vice president now owns 706 shares in the company, valued at approximately $77,102.26. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Ricardo Cardenas sold 10,666 shares of the company’s stock in a transaction that occurred on Monday, June 25th. The shares were sold at an average price of $108.86, for a total transaction of $1,161,100.76. Following the completion of the transaction, the chief financial officer now owns 19,929 shares in the company, valued at approximately $2,169,470.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 182,236 shares of company stock worth $19,609,826. Company insiders own 0.65% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Commonwealth Bank of Australia increased its stake in shares of Darden Restaurants by 3.1% during the 2nd quarter. Commonwealth Bank of Australia now owns 15,345 shares of the restaurant operator’s stock worth $1,637,000 after purchasing an additional 459 shares during the last quarter. Advisory Services Network LLC increased its stake in shares of Darden Restaurants by 21.1% during the 2nd quarter. Advisory Services Network LLC now owns 2,708 shares of the restaurant operator’s stock worth $290,000 after purchasing an additional 471 shares during the last quarter. Catawba Capital Management VA increased its stake in shares of Darden Restaurants by 5.4% during the 2nd quarter. Catawba Capital Management VA now owns 10,225 shares of the restaurant operator’s stock worth $1,095,000 after purchasing an additional 520 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Darden Restaurants by 29.7% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,335 shares of the restaurant operator’s stock worth $250,000 after purchasing an additional 535 shares during the last quarter. Finally, Castleark Management LLC increased its stake in shares of Darden Restaurants by 13.4% during the 2nd quarter. Castleark Management LLC now owns 4,640 shares of the restaurant operator’s stock worth $497,000 after purchasing an additional 550 shares during the last quarter. Institutional investors own 89.66% of the company’s stock.

About Darden Restaurants

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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Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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