Guggenheim Boosts Darden Restaurants (NYSE:DRI) Price Target to $220.00

Darden Restaurants (NYSE:DRI) had its price target increased by equities researchers at Guggenheim from $205.00 to $220.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the restaurant operator’s stock. Guggenheim’s price target points to a potential upside of 6.06% from the company’s current price.

Other research analysts also recently issued reports about the stock. Stephens raised their price target on shares of Darden Restaurants from $175.00 to $178.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. Sanford C. Bernstein raised shares of Darden Restaurants from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $180.00 to $215.00 in a report on Wednesday, January 22nd. BMO Capital Markets increased their price target on Darden Restaurants from $175.00 to $190.00 and gave the stock a “market perform” rating in a research report on Friday, March 21st. Citigroup boosted their price objective on Darden Restaurants from $223.00 to $229.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Finally, UBS Group increased their target price on Darden Restaurants from $210.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $202.08.

Darden Restaurants Stock Performance

Darden Restaurants stock opened at $207.43 on Monday. The stock has a market cap of $24.30 billion, a P/E ratio of 23.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.27. The company has a current ratio of 0.37, a quick ratio of 0.23 and a debt-to-equity ratio of 1.02. Darden Restaurants has a 52 week low of $135.87 and a 52 week high of $210.47. The stock has a 50 day moving average of $193.09 and a 200-day moving average of $177.56.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, March 20th. The restaurant operator reported $2.80 EPS for the quarter, hitting the consensus estimate 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 return on equity of 50.12% and a net margin of 9.01%. The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.60 EPS. On average, analysts expect that Darden Restaurants will post 9.52 EPS for the current fiscal year.

Insider Transactions at Darden Restaurants

In other news, SVP Douglas J. Milanes sold 7,892 shares of the firm’s stock in a transaction 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 sale, the senior vice president now owns 3,914 shares of the company’s stock, valued at $766,948.30. This trade represents a 66.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Susan M. Connelly sold 9,264 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $184.68, for a total value of $1,710,875.52. Following the transaction, the senior vice president now directly owns 4,567 shares in the company, valued at $843,433.56. The trade was a 66.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 45,698 shares of company stock valued at $8,536,729 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DRI. Kestra Investment Management LLC purchased a new position in shares of Darden Restaurants during the 4th quarter valued at $25,000. Compass Wealth Management LLC purchased a new position in Darden Restaurants in the fourth quarter valued at about $28,000. TCTC Holdings LLC acquired a new position in Darden Restaurants in the 4th quarter worth about $28,000. MCF Advisors LLC raised its stake in shares of Darden Restaurants by 50.9% during the 4th quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator’s stock worth $33,000 after purchasing an additional 59 shares in the last quarter. Finally, HHM Wealth Advisors LLC grew its stake in shares of Darden Restaurants by 103.2% in the 4th quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator’s stock valued at $47,000 after buying an additional 129 shares in the last quarter. 93.64% of the stock is owned by hedge funds and other institutional investors.

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.