Darden Restaurants, Inc. (NYSE:DRI) Receives $192.52 Consensus Target Price from Brokerages

Darden Restaurants, Inc. (NYSE:DRI) has been given a consensus rating of “Moderate Buy” by the twenty-five analysts that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $201.36.

Several equities analysts recently issued reports on the company. Morgan Stanley boosted their target price on Darden Restaurants from $209.00 to $217.00 and gave the stock an “overweight” rating in a research report on Friday. Oppenheimer boosted their price objective on shares of Darden Restaurants from $218.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday. Raymond James lifted their target price on shares of Darden Restaurants from $200.00 to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. Truist Financial increased their price target on shares of Darden Restaurants from $200.00 to $212.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Finally, Robert W. Baird lifted their price objective on Darden Restaurants from $192.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday.

Insider Activity at Darden Restaurants

In related news, CFO Rajesh Vennam sold 7,228 shares of Darden Restaurants stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $181.71, for a total transaction of $1,313,399.88. Following the transaction, the chief financial officer now owns 10,262 shares in the company, valued at approximately $1,864,708.02. The trade was a 41.33 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Douglas J. Milanes sold 7,892 shares of Darden Restaurants stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $195.95, for a total transaction of $1,546,437.40. Following the transaction, the senior vice president now owns 3,914 shares in the company, valued at $766,948.30. The trade was a 66.85 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,926 shares of company stock worth $9,850,129. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On Darden Restaurants

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Kestra Investment Management LLC acquired a new position in Darden Restaurants in the 4th quarter worth $25,000. Compass Wealth Management LLC acquired a new position in Darden Restaurants in the 4th quarter worth $28,000. TCTC Holdings LLC acquired a new position in Darden Restaurants in the 4th quarter worth $28,000. MCF Advisors LLC lifted its holdings in Darden Restaurants by 50.9% in the 4th quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator’s stock worth $33,000 after buying an additional 59 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its holdings in Darden Restaurants by 103.2% in the 4th quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator’s stock worth $47,000 after buying an additional 129 shares in the last quarter. Institutional investors and hedge funds own 93.64% of the company’s stock.

Darden Restaurants Stock Performance

Shares of DRI opened at $199.92 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.37 and a debt-to-equity ratio of 1.02. Darden Restaurants has a 52-week low of $135.87 and a 52-week high of $203.47. The company has a 50-day simple moving average of $192.08 and a 200-day simple moving average of $176.60. The company has a market capitalization of $23.42 billion, a PE ratio of 22.90, a P/E/G ratio of 2.15 and a beta of 1.27.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, March 20th. The restaurant operator reported $2.80 earnings per share for the quarter, hitting the consensus estimate of $2.80. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. The company had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same period in the prior year, the business posted $2.60 earnings per share. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities research analysts predict that Darden Restaurants will post 9.52 earnings per share for the current fiscal year.

Darden Restaurants Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Thursday, April 10th. Darden Restaurants’s payout ratio is currently 64.15%.

Darden Restaurants Company Profile

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.