Darden Restaurants (NYSE:DRI) Given New $220.00 Price Target at Stephens

Darden Restaurants (NYSE:DRI) had its price objective lifted by investment analysts at Stephens from $216.00 to $220.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the restaurant operator’s stock. Stephens’ price target suggests a potential upside of 5.87% from the company’s previous close.

DRI has been the subject of a number of other reports. Guggenheim increased their price objective on shares of Darden Restaurants from $230.00 to $235.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Piper Sandler lifted their target price on shares of Darden Restaurants from $208.00 to $212.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Evercore downgraded shares of Darden Restaurants from an “outperform” rating to an “in-line” rating and set a $230.00 target price for the company. in a report on Tuesday, June 23rd. Oppenheimer reiterated an “outperform” rating and issued a $235.00 price target on shares of Darden Restaurants in a research note on Thursday, June 18th. Finally, BTIG Research raised their price target on Darden Restaurants from $225.00 to $235.00 and gave the company a “buy” rating in a report on Friday, June 26th. Eighteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $230.67.

Darden Restaurants Stock Down 0.8%

NYSE DRI opened at $207.81 on Friday. The stock’s 50-day moving average price is $210.02 and its 200-day moving average price is $204.71. The company has a market capitalization of $23.71 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 1.97 and a beta of 0.60. The company has a quick ratio of 0.21, a current ratio of 0.31 and a debt-to-equity ratio of 0.74. Darden Restaurants has a 52 week low of $169.00 and a 52 week high of $229.76.

Darden Restaurants (NYSE:DRI) last released its earnings results on Thursday, June 25th. The restaurant operator reported $3.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.63 by $0.03. Darden Restaurants had a net margin of 9.13% and a return on equity of 57.44%. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.73 billion. During the same period in the prior year, the firm posted $2.98 EPS. The firm’s quarterly revenue was up 13.7% compared to the same quarter last year. Darden Restaurants has set its FY 2027 guidance at 11.100-11.350 EPS. On average, equities research analysts predict that Darden Restaurants will post 11.25 earnings per share for the current year.

Insider Activity

In related news, SVP Susan Connelly sold 9,930 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $206.21, for a total transaction of $2,047,665.30. Following the completion of the transaction, the senior vice president directly owned 4,165 shares of the company’s stock, valued at approximately $858,864.65. This trade represents a 70.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rajesh Vennam sold 8,478 shares of Darden Restaurants stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $210.00, for a total transaction of $1,780,380.00. Following the completion of the sale, the chief financial officer owned 8,569 shares in the company, valued at approximately $1,799,490. This represents a 49.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 70,185 shares of company stock valued at $14,636,984 in the last quarter. Company insiders own 0.67% of the company’s stock.

Hedge Funds Weigh In On Darden Restaurants

Several institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP raised its stake in Darden Restaurants by 3.3% during the second quarter. First Trust Advisors LP now owns 80,001 shares of the restaurant operator’s stock valued at $17,438,000 after purchasing an additional 2,553 shares in the last quarter. Brown Advisory Inc. purchased a new stake in shares of Darden Restaurants during the 2nd quarter valued at about $200,000. Cresset Asset Management LLC lifted its holdings in shares of Darden Restaurants by 3.2% in the 2nd quarter. Cresset Asset Management LLC now owns 2,424 shares of the restaurant operator’s stock valued at $529,000 after acquiring an additional 76 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Darden Restaurants by 15.7% in the 2nd quarter. Cerity Partners LLC now owns 19,045 shares of the restaurant operator’s stock valued at $4,151,000 after acquiring an additional 2,581 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Darden Restaurants by 5.9% in the second quarter. Daiwa Securities Group Inc. now owns 18,183 shares of the restaurant operator’s stock worth $3,964,000 after acquiring an additional 1,012 shares in the last quarter. Hedge funds and other institutional investors own 93.64% of the company’s stock.

About Darden Restaurants

Darden Restaurants, Inc (NYSE: DRI) is a full-service restaurant company headquartered in Orlando, Florida. It operates and franchises a portfolio of dining brands serving a range of cuisines, price points and occasions, with restaurants primarily located in the United States and select international markets.

Its restaurant portfolio includes Olive Garden, an Italian-American dining chain; LongHorn Steakhouse; Cheddar’s Scratch Kitchen; Yard House; The Capital Grille; Seasons 52; Bahama Breeze; Eddie V’s; Ruth’s Chris Steak House; and Chuy’s.