Barclays Increases Darden Restaurants (NYSE:DRI) Price Target to $230.00

Darden Restaurants (NYSE:DRI) had its price target upped by stock analysts at Barclays from $206.00 to $230.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the restaurant operator’s stock. Barclays‘s price target indicates a potential upside of 24.55% from the stock’s previous close.

Other analysts also recently issued reports about the stock. Stifel Nicolaus increased their price target on shares of Darden Restaurants from $190.00 to $205.00 and gave the company a “buy” rating in a report on Friday, December 20th. JPMorgan Chase & Co. boosted their price target on Darden Restaurants from $165.00 to $176.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Truist Financial raised their price objective on Darden Restaurants from $195.00 to $200.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. BTIG Research boosted their price objective on Darden Restaurants from $175.00 to $195.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Finally, Citigroup reduced their target price on Darden Restaurants from $209.00 to $206.00 and set a “buy” rating for the company in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $189.12.

Darden Restaurants Stock Up 0.4 %

Shares of NYSE DRI traded up $0.70 during mid-day trading on Tuesday, reaching $184.66. 416,486 shares of the company traded hands, compared to its average volume of 1,014,580. The company’s fifty day moving average is $172.30 and its two-hundred day moving average is $160.19. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.22 and a current ratio of 0.35. Darden Restaurants has a fifty-two week low of $135.87 and a fifty-two week high of $189.18. The stock has a market cap of $21.70 billion, a PE ratio of 21.30, a price-to-earnings-growth ratio of 1.90 and a beta of 1.31.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, December 19th. The restaurant operator reported $2.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $2.03. Darden Restaurants had a net margin of 9.11% and a return on equity of 49.46%. The business had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the previous year, the company earned $1.84 earnings per share. Darden Restaurants’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts expect that Darden Restaurants will post 9.47 earnings per share for the current year.

Insider Activity

In other Darden Restaurants news, CFO Rajesh Vennam sold 7,228 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was 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 of the company’s stock, valued at approximately $1,864,708.02. This represents a 41.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is owned by insiders.

Institutional Investors Weigh In On Darden Restaurants

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in Darden Restaurants during the 2nd quarter worth about $27,000. Kimelman & Baird LLC acquired a new stake in shares of Darden Restaurants during the 2nd quarter worth approximately $30,000. Wolff Wiese Magana LLC raised its stake in shares of Darden Restaurants by 1,690.9% during the third quarter. Wolff Wiese Magana LLC now owns 197 shares of the restaurant operator’s stock worth $32,000 after buying an additional 186 shares during the last quarter. Bangor Savings Bank lifted its holdings in Darden Restaurants by 395.0% in the third quarter. Bangor Savings Bank now owns 297 shares of the restaurant operator’s stock valued at $49,000 after buying an additional 237 shares during the period. Finally, Truvestments Capital LLC bought a new position in Darden Restaurants in the third quarter valued at approximately $72,000. Institutional investors 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.