Darden Restaurants (NYSE:DRI) Price Target Raised to $162.00

Last updated on Monday, April 19, 2021 | 2021 MarketBeat

Darden Restaurants (NYSE:DRI) had its price objective lifted by investment analysts at JPMorgan Chase & Co. from $150.00 to $162.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the restaurant operator's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 10.96% from the company's current price.

A number of other research analysts also recently commented on the company. Truist increased their target price on Darden Restaurants from $150.00 to $158.00 in a research report on Friday, March 26th. Wedbush raised their price target on Darden Restaurants from $126.00 to $146.00 and gave the stock a "neutral" rating in a research report on Thursday, April 1st. Cowen raised their price target on Darden Restaurants from $113.00 to $134.00 and gave the stock a "market perform" rating in a research report on Monday, March 15th. UBS Group increased their target price on Darden Restaurants from $160.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, April 1st. Finally, Stifel Nicolaus increased their target price on Darden Restaurants from $120.00 to $140.00 and gave the stock a "hold" rating in a research note on Thursday, March 25th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Darden Restaurants presently has a consensus rating of "Buy" and a consensus price target of $140.48.

Shares of DRI opened at $146.00 on Monday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.72 and a quick ratio of 0.59. Darden Restaurants has a 1 year low of $60.34 and a 1 year high of $149.73. The company has a 50 day simple moving average of $142.05 and a two-hundred day simple moving average of $124.00. The firm has a market cap of $19.03 billion, a P/E ratio of -152.43, a price-to-earnings-growth ratio of 2.31 and a beta of 1.48.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings data on Wednesday, March 24th. The restaurant operator reported $0.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.29. Darden Restaurants had a negative net margin of 1.70% and a positive return on equity of 10.47%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the firm posted $1.90 EPS. The company's revenue was down 26.1% on a year-over-year basis. On average, sell-side analysts anticipate that Darden Restaurants will post 3.3 earnings per share for the current year.

Darden Restaurants announced that its board has approved a share buyback program on Thursday, March 25th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the restaurant operator to buy up to 2.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

In other Darden Restaurants news, COO Ricardo Cardenas sold 1,200 shares of the business's stock in a transaction that occurred on Tuesday, April 6th. The stock was sold at an average price of $147.04, for a total value of $176,448.00. Following the completion of the transaction, the chief operating officer now directly owns 48,169 shares of the company's stock, valued at $7,082,769.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Susan M. Connelly sold 7,783 shares of the business's stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $144.83, for a total value of $1,127,211.89. Following the completion of the transaction, the senior vice president now directly owns 10,143 shares of the company's stock, valued at $1,469,010.69. The disclosure for this sale can be found here. Insiders have sold 134,424 shares of company stock valued at $18,249,880 in the last ninety days. Corporate insiders own 1.00% of the company's stock.

Institutional investors have recently bought and sold shares of the company. Morgan Stanley increased its position in shares of Darden Restaurants by 26.1% in the fourth quarter. Morgan Stanley now owns 329,285 shares of the restaurant operator's stock valued at $39,224,000 after buying an additional 68,258 shares in the last quarter. Truist Financial Corp increased its position in shares of Darden Restaurants by 40.8% during the fourth quarter. Truist Financial Corp now owns 78,293 shares of the restaurant operator's stock worth $9,326,000 after purchasing an additional 22,675 shares in the last quarter. Rothschild Investment Corp IL increased its position in shares of Darden Restaurants by 13.1% during the fourth quarter. Rothschild Investment Corp IL now owns 4,850 shares of the restaurant operator's stock worth $578,000 after purchasing an additional 560 shares in the last quarter. Conning Inc. purchased a new stake in shares of Darden Restaurants during the fourth quarter worth approximately $234,000. Finally, Boston Partners increased its position in shares of Darden Restaurants by 1.4% during the fourth quarter. Boston Partners now owns 768,899 shares of the restaurant operator's stock worth $91,591,000 after purchasing an additional 10,498 shares in the last quarter. Institutional investors and hedge funds own 89.35% of the company's stock.

Darden Restaurants Company Profile

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 31, 2020, it owned and operated approximately 1,804 restaurants, which included 868 under the Olive Garden, 522 under the LongHorn Steakhouse, 165 under the Cheddar's Scratch Kitchen, 81 under the Yard House, 60 under The Capital Grille, 44 under the Seasons 52, 41 under the Bahama Breeze, and 23 under the Eddie V's Prime Seafood brands.

Featured Article: Blockchain

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

Featured Article: Understanding Specialty Certificates of Deposit



7 Food Stocks That Are Leading Through Innovation

It might be easy to dismiss food stocks with so many restaurants still struggling to recover from the global pandemic. But food stocks are a broad category that includes not only the way food is consumed but the way it’s made. In 2020, sustainability and a focus on climate change continue to be important trends in this sector.

Another trend to look at is the ability of companies to deliver food to consumers. It’s not surprising that some of the biggest winners in the pandemic are the restaurants that already had a strong digital presence. Consumers' ability to have a contactless experience from start to finish has been a catalyst for some stocks.

Not surprisingly, those are also the trends that create an opportunity for investors looking to dabble in food stocks. As you look to resetting your portfolio for 2021, it may be time to take a bite out of some of these stocks.

With that in mind, we’ve put together this special presentation that identifies seven food stocks that you should consider adding to your portfolio. In addition to gaining exposure to this sector, some of these stocks present the opportunity for industry-beating gains.

View the "7 Food Stocks That Are Leading Through Innovation".


MarketBeat - Stock Market News and Research Tools logo

MarketBeat empowers individual investors to make better trading decisions by providing real-time financial data and objective market analysis. Whether you’re looking for analyst ratings, corporate buybacks, dividends, earnings, economic reports, financials, insider trades, IPOs, SEC filings or stock splits, MarketBeat has the objective information you need to analyze any stock. Learn more.

MarketBeat is accredited by the Better Business Bureau

© American Consumer News, LLC dba MarketBeat® 2010-2021. All rights reserved.
326 E 8th St #105, Sioux Falls, SD 57103 | U.S. Based Support Team at [email protected] | (844) 978-6257
MarketBeat does not provide personalized financial advice and does not issue recommendations or offers to buy stock or sell any security. Learn more.

Our Accessibility Statement | Terms of Service | Do Not Sell My Information

© 2021 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided 'as-is' and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see disclaimer. Fundamental company data provided by Zacks Investment Research. As a bonus to opt-ing into our email newsletters, you will also get a free subscription to the Liberty Through Wealth e-newsletter. You can opt out at any time.