Stifel Nicolaus Cuts Darden Restaurants (DRI) Price Target to $100.00

Darden Restaurants (NYSE:DRI) had its price target decreased by Stifel Nicolaus from $105.00 to $100.00 in a research report issued on Friday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the restaurant operator’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 18.69% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. SunTrust Banks set a $104.00 price target on Darden Restaurants and gave the company a “hold” rating in a research report on Thursday, January 11th. Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research report on Monday, January 8th. Jefferies Group upped their price target on Darden Restaurants from $82.00 to $90.00 and gave the company a “hold” rating in a research report on Wednesday, December 20th. Mizuho assumed coverage on Darden Restaurants in a research report on Thursday, March 15th. They set a “buy” rating and a $105.00 price target on the stock. Finally, Barclays reiterated an “overweight” rating and set a $116.00 price target (up from $108.00) on shares of Darden Restaurants in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $97.04.

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Shares of Darden Restaurants (DRI) opened at $84.25 on Friday. Darden Restaurants has a 52 week low of $75.20 and a 52 week high of $100.11. The stock has a market capitalization of $10,616.50, a PE ratio of 19.55, a P/E/G ratio of 1.63 and a beta of 0.22. The company has a quick ratio of 0.20, a current ratio of 0.39 and a debt-to-equity ratio of 0.44.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Thursday, March 22nd. The restaurant operator reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.07. Darden Restaurants had a return on equity of 28.12% and a net margin of 6.92%. The business had revenue of $2.13 billion for the quarter, compared to analysts’ expectations of $2.15 billion. During the same period in the previous year, the business posted $1.32 EPS. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. equities analysts anticipate that Darden Restaurants will post 4.77 earnings per share for the current fiscal year.

In other news, SVP Douglas J. Milanes sold 4,300 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $97.05, for a total transaction of $417,315.00. Following the completion of the transaction, the senior vice president now owns 7,513 shares of the company’s stock, valued at $729,136.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ricardo Cardenas sold 10,783 shares of the business’s stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $97.17, for a total value of $1,047,784.11. Following the transaction, the chief financial officer now directly owns 20,046 shares of the company’s stock, valued at approximately $1,947,869.82. The disclosure for this sale can be found here. Insiders have sold 74,866 shares of company stock valued at $7,252,094 in the last three months. 0.63% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Xact Kapitalforvaltning AB boosted its stake in Darden Restaurants by 15.9% in the fourth quarter. Xact Kapitalforvaltning AB now owns 11,723 shares of the restaurant operator’s stock worth $1,126,000 after buying an additional 1,609 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Darden Restaurants by 16.7% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 64,256 shares of the restaurant operator’s stock worth $6,170,000 after buying an additional 9,198 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in Darden Restaurants by 48.0% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,400 shares of the restaurant operator’s stock worth $711,000 after buying an additional 2,400 shares in the last quarter. MetLife Investment Advisors LLC purchased a new stake in Darden Restaurants in the fourth quarter worth approximately $3,674,000. Finally, Element Capital Management LLC purchased a new stake in Darden Restaurants in the fourth quarter worth approximately $9,104,000. 90.44% of the stock is owned by institutional investors and hedge funds.

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About Darden Restaurants

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of June 27, 2017, it owned and operated approximately 1,700 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, and Eddie V's brands.

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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