BMO Capital Markets Issues Positive Forecast for Darden Restaurants (NYSE:DRI) Stock Price

Darden Restaurants (NYSE:DRI - Get Free Report) had its target price upped by stock analysts at BMO Capital Markets from $175.00 to $190.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a "market perform" rating on the restaurant operator's stock. BMO Capital Markets' price target indicates a potential downside of 9.05% from the stock's current price.

A number of other equities analysts also recently issued reports on the company. KeyCorp increased their price target on Darden Restaurants from $194.00 to $200.00 and gave the stock an "overweight" rating in a research report on Friday, December 20th. UBS Group boosted their price target on shares of Darden Restaurants from $195.00 to $210.00 and gave the stock a "buy" rating in a report on Friday, December 20th. Wedbush boosted their target price on shares of Darden Restaurants from $220.00 to $235.00 and gave the stock an "outperform" rating in a research note on Friday. Stephens raised their price target on shares of Darden Restaurants from $175.00 to $178.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Barclays lifted their target price on shares of Darden Restaurants from $206.00 to $230.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Darden Restaurants currently has an average rating of "Moderate Buy" and an average price target of $202.08.

Remove Ads

Darden Restaurants Stock Up 4.5 %

Shares of DRI stock traded up $8.98 during trading hours on Friday, reaching $208.91. 991,939 shares of the company's stock were exchanged, compared to its average volume of 1,242,689. Darden Restaurants has a 1 year low of $135.87 and a 1 year high of $210.31. The company has a current ratio of 0.37, a quick ratio of 0.23 and a debt-to-equity ratio of 1.02. The stock has a market cap of $24.47 billion, a PE ratio of 23.93, a PEG ratio of 2.15 and a beta of 1.27. The stock's fifty day moving average price is $192.08 and its two-hundred day moving average price is $176.85.

Darden Restaurants (NYSE:DRI - Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.80. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.22 billion. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. Darden Restaurants's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $2.60 EPS. Research analysts predict that Darden Restaurants will post 9.52 EPS for the current year.

Insider Buying and Selling at Darden Restaurants

In other news, SVP Douglas J. Milanes sold 7,892 shares of Darden Restaurants stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $195.95, for a total transaction of $1,546,437.40. Following the sale, the senior vice president now owns 3,914 shares of the company's stock, valued at approximately $766,948.30. This trade represents a 66.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Todd Burrowes sold 15,783 shares of the company's stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $183.03, for a total value of $2,888,762.49. Following the completion of the transaction, the insider now owns 46,288 shares of the company's stock, valued at $8,472,092.64. The trade was a 25.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 45,698 shares of company stock worth $8,536,729 over the last ninety days. Company insiders own 0.58% of the company's stock.

Hedge Funds Weigh In On Darden Restaurants

Hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System increased its stake in Darden Restaurants by 7.7% in the fourth quarter. California State Teachers Retirement System now owns 173,318 shares of the restaurant operator's stock valued at $32,357,000 after acquiring an additional 12,434 shares during the period. 111 Capital acquired a new stake in Darden Restaurants during the fourth quarter valued at approximately $1,225,000. Wealth Enhancement Advisory Services LLC grew its stake in shares of Darden Restaurants by 14.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,553 shares of the restaurant operator's stock valued at $2,157,000 after purchasing an additional 1,437 shares during the period. Aegis Wealth Management LLC acquired a new position in shares of Darden Restaurants in the 4th quarter worth approximately $322,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Darden Restaurants during the 4th quarter worth approximately $15,175,000. Institutional investors and hedge funds own 93.64% of the company's stock.

About Darden Restaurants

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.