Darden Restaurants (NYSE:DRI) Given New $190.00 Price Target at TD Securities

Darden Restaurants (NYSE:DRI) had its target price lifted by stock analysts at TD Securities from $180.00 to $190.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the restaurant operator’s stock. TD Securities’ price objective points to a potential downside of 4.36% from the company’s previous close.

Several other equities analysts also recently commented on the company. The Goldman Sachs Group assumed coverage on Darden Restaurants in a research report on Thursday, December 5th. They issued a “neutral” rating and a $183.00 price objective on the stock. Stifel Nicolaus boosted their price objective on Darden Restaurants from $205.00 to $215.00 and gave the company a “buy” rating in a research report on Friday. Truist Financial boosted their target price on Darden Restaurants from $200.00 to $212.00 and gave the stock a “buy” rating in a research report on Monday. Citigroup decreased their target price on Darden Restaurants from $209.00 to $206.00 and set a “buy” rating on the stock in a research report on Wednesday, December 4th. Finally, BMO Capital Markets upped their price objective on Darden Restaurants from $165.00 to $175.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $196.84.

Darden Restaurants Stock Performance

Shares of DRI opened at $198.66 on Friday. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.37 and a quick ratio of 0.23. Darden Restaurants has a one year low of $135.87 and a one year high of $203.47. The firm has a market capitalization of $23.27 billion, a P/E ratio of 22.76, a PEG ratio of 2.15 and a beta of 1.27. The business has a fifty day moving average of $191.67 and a 200 day moving average of $176.31.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, March 20th. The restaurant operator reported $2.80 EPS for the quarter, hitting the consensus estimate of $2.80. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The company had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.22 billion. During the same quarter in the previous year, the company posted $2.60 earnings per share. Darden Restaurants’s revenue was up 6.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Darden Restaurants will post 9.52 EPS for the current year.

Insider Activity

In related news, SVP Matthew R. Broad sold 12,759 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $187.37, for a total value of $2,390,653.83. Following the transaction, the senior vice president now owns 14,328 shares of the company’s stock, valued at $2,684,637.36. This represents a 47.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Douglas J. Milanes sold 7,892 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $195.95, for a total value of $1,546,437.40. Following the completion of the transaction, the senior vice president now directly owns 3,914 shares in the company, valued at approximately $766,948.30. This trade represents a 66.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,926 shares of company stock valued at $9,850,129. 0.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DRI. Kestra Investment Management LLC bought a new position in Darden Restaurants in the fourth quarter worth approximately $25,000. Compass Wealth Management LLC bought a new position in Darden Restaurants in the fourth quarter worth approximately $28,000. TCTC Holdings LLC bought a new stake in Darden Restaurants during the 4th quarter valued at $28,000. MCF Advisors LLC boosted its position in Darden Restaurants by 50.9% during the 4th quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator’s stock valued at $33,000 after acquiring an additional 59 shares in the last quarter. Finally, HHM Wealth Advisors LLC boosted its position in Darden Restaurants by 103.2% during the 4th quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator’s stock valued at $47,000 after acquiring an additional 129 shares in the last quarter. Institutional investors own 93.64% of the company’s stock.

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.