The IRD has been the subject of several other research reports. Oppenheimer cut his Darden Restaurant price target from $175.00 to $155.00 and set an outperform rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft lowered its price target on Darden restaurants from $152.00 to $124.00 in a report on Friday. Robert W. Baird lowered his price target on Darden Restaurants from $160.00 to $146.00 in a report on Tuesday. Morgan Stanley lowered its price target on Darden Restaurants from $171.00 to $161.00 and set an overweight rating on the stock in a Friday, March 25 report. Finally, Citigroup raised its target price on Darden Restaurants from $134.00 to $140.00 in a research report on Friday. Five investment analysts gave the stock a hold rating and sixteen gave the company a buy rating. According to MarketBeat.com, the company has a Moderate Buy consensus rating and an average price target of $141.47.
NYSE DRI opened at $119.81 on Friday. The company has a 50-day simple moving average of $124.54 and a 200-day simple moving average of $133.95. Darden Restaurants has a one-year minimum of $110.96 and a one-year maximum of $164.28. The stock has a market capitalization of $14.94 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.40 and a beta of 1.32. 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 a rating) last announced its quarterly results on Thursday, March 24. The restaurateur reported earnings per share (EPS) 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 had a return on equity of 36.26% and a net margin of 11.17%. The company’s revenue increased 41.3% year over year. In the same quarter a year earlier, the company posted EPS of $0.98. Stock analysts expect Darden Restaurants to post earnings per share of 7.37 for the current year.
The company also recently announced 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 represents an annualized dividend of $4.84 and a dividend yield of 4.04%. This is a boost from Darden Restaurants’ previous quarterly dividend of $1.10. The ex-dividend date is Thursday, July 7. Darden Restaurants’ payout ratio is 55.42%.
In related news, the director Juliana L. Chugg acquired 1,925 shares of Darden Restaurants in a transaction on Monday, March 28. The shares were purchased at an average cost of $129.01 per share, with a total value of $248,344.25. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this hyperlink. Insiders own 0.95% of the shares of the company.
Several hedge funds and other institutional investors have recently changed their positions in DRI. James Reed Financial Services Inc. acquired a new stake in Darden Restaurants during the fourth quarter at a value of $26,000. Princeton Global Asset Management LLC purchased a new stake in shares of Darden Restaurants during Q1 valued at $27,000. Dravo Bay LLC acquired a new stock position in Darden Restaurants in Q1 worth $27,000. FourThought Financial LLC acquired a new position in shares of Darden Restaurants in Q4 worth $31,000. Finally, Benjamin Edwards Inc. acquired a new position in shares of Darden Restaurants in the 4th quarter at a value of $34,000. Hedge funds and other institutional investors hold 90.71% of the company’s shares.
Darden Restaurants Company Profile (Get a rating)
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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