Oppenheimer Forecasts Strong Price Appreciation for Darden Restaurants (NYSE:DRI) Stock

Darden Restaurants (NYSE:DRI - Get Free Report) had its target price lifted by analysts at Oppenheimer from $230.00 to $250.00 in a report issued on Wednesday. The brokerage presently has an "outperform" rating on the restaurant operator's stock. Oppenheimer's price objective indicates a potential upside of 11.27% from the company's previous close.

A number of other research analysts also recently issued reports on the stock. Stephens boosted their target price on shares of Darden Restaurants from $178.00 to $200.00 and gave the company an "equal weight" rating in a research report on Thursday, June 12th. Citigroup boosted their price target on shares of Darden Restaurants from $223.00 to $229.00 and gave the company a "buy" rating in a research note on Friday, March 21st. TD Securities raised their price objective on shares of Darden Restaurants from $180.00 to $190.00 and gave the company a "hold" rating in a research note on Friday, March 21st. Stifel Nicolaus boosted their target price on shares of Darden Restaurants from $205.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, March 21st. Finally, UBS Group upped their target price on shares of Darden Restaurants from $225.00 to $245.00 and gave the stock a "buy" rating in a report on Monday. Nine analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $210.15.

Darden Restaurants Stock Down 0.0%

Shares of NYSE:DRI opened at $224.68 on Wednesday. The company has a market capitalization of $26.29 billion, a price-to-earnings ratio of 25.33, a P/E/G ratio of 2.27 and a beta of 0.75. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.39 and a quick ratio of 0.24. The business's 50-day moving average is $206.56 and its 200-day moving average is $195.04. Darden Restaurants has a 1 year low of $135.87 and a 1 year high of $227.90.

Darden Restaurants (NYSE:DRI - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.80. Darden Restaurants had a return on equity of 50.68% and a net margin of 8.96%. The firm had revenue of $3.16 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same period in the previous year, the firm earned $2.60 earnings per share. The company's revenue was up 6.2% compared to the same quarter last year. Equities research analysts predict that Darden Restaurants will post 9.52 earnings per share for the current year.

Insider Activity at Darden Restaurants

In related news, SVP John W. Madonna sold 1,806 shares of the business's stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $207.88, for a total transaction of $375,431.28. Following the completion of the transaction, the senior vice president now owns 7,192 shares of the company's stock, valued at approximately $1,495,072.96. The trade was a 20.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura B. Williamson sold 2,289 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $207.26, for a total transaction of $474,418.14. Following the transaction, the insider now directly owns 10,056 shares of the company's stock, valued at approximately $2,084,206.56. This represents a 18.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 24,613 shares of company stock worth $5,121,492. Corporate insiders own 0.58% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Kestra Investment Management LLC purchased a new position in Darden Restaurants in the 4th quarter worth approximately $25,000. Grove Bank & Trust grew its position in Darden Restaurants by 171.4% in the first quarter. Grove Bank & Trust now owns 133 shares of the restaurant operator's stock worth $28,000 after acquiring an additional 84 shares in the last quarter. ORG Partners LLC grew its position in Darden Restaurants by 108.8% in the first quarter. ORG Partners LLC now owns 142 shares of the restaurant operator's stock worth $30,000 after acquiring an additional 74 shares in the last quarter. Centennial Bank AR purchased a new position in Darden Restaurants in the first quarter worth $31,000. Finally, TCTC Holdings LLC purchased a new position in shares of Darden Restaurants in the 4th quarter worth about $28,000. Hedge funds and other institutional investors 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.

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