Darden Restaurants (NYSE:DRI) Price target reduced to $136.00


Darden Restaurants (NYSE: DRI – Get Noted) had its price target lowered by Truist Financial from $180.00 to $136.00 in a research note released on Friday morning, reports The Fly.

Several other stock analysts also weighed in on DRI. Barclays lowered its price target on shares of Darden Restaurants from $135.00 to $130.00 in a research report on Friday. MKM Partners cut its price target on shares of Darden Restaurants from $165.00 to $150.00 and set a buy rating on the stock in a Tuesday, June 14 research note. Stephens cut his price target on shares of Darden Restaurants from $176.00 to $160.00 and set an overweight rating on the stock in a Friday, March 25 research note. KeyCorp reduced its price target on shares of Darden Restaurants from $160.00 to $136.00 in a Wednesday, June 15 research note. Finally, Credit Suisse Group lowered its price target on shares of Darden Restaurants from $175.00 to $152.00 in a research note on Friday. Five investment analysts gave the stock a hold rating and sixteen gave the company a buy rating. Based on MarketBeat data, Darden Restaurants currently has a Moderate Buy average rating and consensus target price of $141.47.

Shares of DRI opened at $119.81 on Friday. The company has a market capitalization of $14.94 billion, a PE ratio of 15.09, a PEG ratio of 1.40 and a beta of 1.32. The company’s 50-day moving average is $124.54 and its 200-day moving average is $133.95. Darden Restaurants has a fifty-two week minimum of $110.96 and a fifty-two week maximum of $164.28. The company has a debt ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.57.

Darden Restaurants (NYSE:DRI – Get Rating) last released quarterly earnings data on Thursday, March 24. The restaurateur reported earnings per share of $1.93 for the quarter, missing the consensus estimate of $2.09 per ($0.16). The company posted revenue of $2.45 billion in the quarter, versus a consensus estimate of $2.50 billion. Darden Restaurants achieved a net margin of 11.17% and a return on equity of 36.26%. Darden Restaurants’ revenue for the quarter increased 41.3% compared to the same quarter last year. During the same period of the previous year, the company made earnings per share of $0.98. Analysts predict Darden Restaurants will post earnings per share of 7.37 for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 1. Shareholders of record on Friday, July 8 will receive a dividend of $1.21. This is an increase from Darden Restaurants’ previous quarterly dividend of $1.10. This represents a dividend of $4.84 on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Thursday, July 7. Darden Restaurants’ dividend payout ratio (DPR) is currently 55.42%.

Separately, director Juliana L. Chugg purchased 1,925 shares of Darden Restaurants in a transaction dated Monday, March 28. The shares were purchased at an average cost of $129.01 per share, for a total transaction of $248,344.25. The acquisition was disclosed in an SEC filing, which is available at this link. Insiders of the company own 0.95% of the shares of the company.

Institutional investors and hedge funds have recently been buying and selling shares of the company. Robeco Institutional Asset Management BV increased its stake in the shares of Darden Restaurants by 3.6% in the 4th quarter. Robeco Institutional Asset Management BV now owns 45,805 shares of the restaurateur valued at $6,900,000 after buying an additional 1,604 shares in the last quarter. Braun Stacey Associates Inc. increased its stake in Darden Restaurants by 10.4% in the fourth quarter. Braun Stacey Associates Inc. now owns 11,650 shares of the restaurateur valued at $1,755,000 after buying an additional 1,100 shares in the last quarter. First Republic Investment Management Inc. increased its stake in Darden Restaurants by 6.5% in the fourth quarter. First Republic Investment Management Inc. now owns 15,259 shares of the restaurateur valued at $2,299,000 after buying 938 additional shares in the last quarter. Aries Wealth Management bought a new position in Darden Restaurants in Q4, valued at around $527,000. Finally, Rafferty Asset Management LLC bought a new position in Darden Restaurants in Q4 valued at around $204,000. Institutional investors hold 90.71% of the company’s shares.

Darden Restaurants Company Profile (Get an assessment)

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 30, 2021, it owned and operated 1,834 restaurants, including 875 under the Olive Garden, 533 under the LongHorn Steakhouse, 170 under Cheddar’s Scratch Kitchen, 81 under the Yard House, 63 under The Capital Grille, 44 under the Seasons 52, 42 under the Bahama Breeze brands and 26 under the Eddie V’s Prime Seafood brands.

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