Darden Restaurants (NYSE:DRI) Research Coverage Started at Stephens

Stephens began coverage on shares of Darden Restaurants (NYSE:DRI - Free Report) in a research note released on Friday, MarketBeat reports. The firm issued an equal weight rating and a $170.00 target price on the restaurant operator's stock.

Several other brokerages have also commented on DRI. Barclays lifted their target price on Darden Restaurants from $180.00 to $187.00 and gave the stock an overweight rating in a research report on Wednesday, January 3rd. StockNews.com cut shares of Darden Restaurants from a buy rating to a hold rating in a report on Thursday, January 4th. Guggenheim lifted their price target on shares of Darden Restaurants from $180.00 to $185.00 and gave the company a buy rating in a report on Tuesday, March 19th. TD Cowen reiterated a buy rating and set a $190.00 price objective on shares of Darden Restaurants in a research note on Wednesday. Finally, JPMorgan Chase & Co. upped their target price on Darden Restaurants from $170.00 to $180.00 and gave the company an overweight rating in a report on Tuesday, March 19th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $178.85.

Darden Restaurants Stock Down 1.3 %

Shares of NYSE DRI traded down $1.96 during trading on Friday, reaching $153.05. 1,414,228 shares of the stock were exchanged, compared to its average volume of 1,157,962. The company has a market capitalization of $18.27 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.71 and a beta of 1.25. The business's 50-day moving average price is $166.82 and its 200 day moving average price is $158.19. The company has a quick ratio of 0.25, a current ratio of 0.39 and a debt-to-equity ratio of 0.63. Darden Restaurants has a twelve month low of $133.36 and a twelve month high of $176.84.

Darden Restaurants (NYSE:DRI - Get Free Report) last posted its quarterly earnings data on Thursday, March 21st. The restaurant operator reported $2.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.01). The business had revenue of $2.97 billion for the quarter, compared to analysts' expectations of $3.02 billion. Darden Restaurants had a return on equity of 49.94% and a net margin of 9.24%. Darden Restaurants's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.34 earnings per share. As a group, equities analysts forecast that Darden Restaurants will post 8.85 EPS for the current fiscal year.

Darden Restaurants Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $1.31 per share. This represents a $5.24 dividend on an annualized basis and a yield of 3.42%. The ex-dividend date is Tuesday, April 9th. Darden Restaurants's payout ratio is currently 61.43%.

Darden Restaurants announced that its Board of Directors has authorized a share buyback plan on Thursday, March 21st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the restaurant operator to repurchase up to 5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Insider Transactions at Darden Restaurants

In related news, Director William S. Simon sold 1,219 shares of the firm's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $158.21, for a total transaction of $192,857.99. Following the completion of the sale, the director now directly owns 6,281 shares in the company, valued at $993,717.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Matthew R. Broad sold 6,831 shares of Darden Restaurants stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $163.26, for a total value of $1,115,229.06. Following the transaction, the senior vice president now directly owns 19,141 shares of the company's stock, valued at $3,124,959.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William S. Simon sold 1,219 shares of the company's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $158.21, for a total transaction of $192,857.99. Following the completion of the sale, the director now owns 6,281 shares of the company's stock, valued at approximately $993,717.01. The disclosure for this sale can be found here. Insiders have sold 15,723 shares of company stock valued at $2,578,122 in the last quarter. Insiders own 0.85% of the company's stock.

Institutional Trading of Darden Restaurants

Hedge funds and other institutional investors have recently modified their holdings of the business. Rise Advisors LLC grew its stake in Darden Restaurants by 131.3% during the 1st quarter. Rise Advisors LLC now owns 155 shares of the restaurant operator's stock valued at $26,000 after acquiring an additional 88 shares in the last quarter. Quarry LP increased its stake in Darden Restaurants by 980.0% in the 2nd quarter. Quarry LP now owns 162 shares of the restaurant operator's stock valued at $27,000 after buying an additional 147 shares during the period. Fortitude Family Office LLC purchased a new stake in Darden Restaurants in the 4th quarter worth approximately $29,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Darden Restaurants during the 4th quarter valued at $29,000. Finally, Hartford Financial Management Inc. grew its holdings in shares of Darden Restaurants by 65.1% during the 4th quarter. Hartford Financial Management Inc. now owns 180 shares of the restaurant operator's stock valued at $30,000 after acquiring an additional 71 shares in the last quarter. Institutional investors and hedge funds own 93.64% of the company's stock.

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.