Darden Restaurants, Inc. (DRI) Given Consensus Rating of “Buy” by Brokerages

Share on StockTwits

Darden Restaurants, Inc. (NYSE:DRI) has earned a consensus recommendation of “Buy” from the twenty-six research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $121.38.

A number of equities analysts have weighed in on DRI shares. Canaccord Genuity increased their price target on shares of Darden Restaurants from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, September 21st. Zacks Investment Research raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Friday, October 5th. Maxim Group downgraded shares of Darden Restaurants from a “buy” rating to a “hold” rating and set a $112.00 price target on the stock. in a research note on Monday, July 16th. They noted that the move was a valuation call. Mizuho increased their price target on shares of Darden Restaurants from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, September 21st. Finally, SunTrust Banks increased their price target on shares of Darden Restaurants to $137.00 and gave the stock a “buy” rating in a research note on Friday, September 21st.

Shares of DRI traded up $0.39 on Wednesday, hitting $107.15. 31,657 shares of the stock traded hands, compared to its average volume of 1,525,153. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.26 and a current ratio of 0.41. The company has a market capitalization of $13.74 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 2.11 and a beta of 0.17. Darden Restaurants has a 1 year low of $78.83 and a 1 year high of $124.00.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Thursday, September 20th. The restaurant operator reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.10. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.03 billion. Darden Restaurants had a net margin of 7.84% and a return on equity of 30.32%. Darden Restaurants’s revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share. Equities analysts expect that Darden Restaurants will post 5.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Tuesday, October 9th. Darden Restaurants’s dividend payout ratio is presently 26.20%.

In related news, insider Eugene I. Lee, Jr. sold 60,688 shares of the firm’s stock in a transaction on Wednesday, September 26th. The shares were sold at an average price of $112.63, for a total transaction of $6,835,289.44. Following the completion of the sale, the insider now directly owns 147,561 shares of the company’s stock, valued at approximately $16,619,795.43. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO David C. George sold 55,671 shares of the firm’s stock in a transaction on Thursday, October 4th. The shares were 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. In the last three months, insiders sold 118,545 shares of company stock worth $13,103,896. Insiders own 0.65% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Darden Restaurants by 3.8% during the 2nd quarter. BlackRock Inc. now owns 11,054,427 shares of the restaurant operator’s stock valued at $1,183,487,000 after purchasing an additional 401,736 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Darden Restaurants by 12.3% during the 2nd quarter. Victory Capital Management Inc. now owns 2,621,385 shares of the restaurant operator’s stock valued at $280,646,000 after purchasing an additional 288,019 shares in the last quarter. Morgan Stanley grew its holdings in Darden Restaurants by 100.8% during the 2nd quarter. Morgan Stanley now owns 1,520,183 shares of the restaurant operator’s stock valued at $162,751,000 after purchasing an additional 763,239 shares in the last quarter. Millennium Management LLC grew its holdings in Darden Restaurants by 290.8% during the 2nd quarter. Millennium Management LLC now owns 1,287,465 shares of the restaurant operator’s stock valued at $137,836,000 after purchasing an additional 958,040 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Darden Restaurants by 5.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,012,324 shares of the restaurant operator’s stock valued at $108,380,000 after purchasing an additional 53,292 shares in the last quarter. 89.50% of the stock is owned by institutional investors and hedge funds.

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.

Recommended Story: Is the Dow Jones Industrial Average (DJIA) still relevant?

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply