Darden Restaurants (NYSE:DRI) had its price target lifted by Wells Fargo & Co from $108.00 to $109.00 in a research note issued to investors on Thursday. The firm currently has a market perform rating on the restaurant operator’s stock.
Several other analysts also recently issued reports on the stock. Gordon Haskett initiated coverage on shares of Darden Restaurants in a report on Thursday, October 18th. They issued an underperform rating and a $94.00 price target on the stock. Zacks Investment Research downgraded shares of Darden Restaurants from a buy rating to a hold rating in a report on Friday, November 16th. Robert W. Baird downgraded shares of Darden Restaurants from an outperform rating to a neutral rating in a report on Monday, September 10th. SunTrust Banks upped their price target on shares of Darden Restaurants to $137.00 and gave the company a buy rating in a report on Friday, September 21st. Finally, Loop Capital initiated coverage on shares of Darden Restaurants in a report on Wednesday, October 24th. They issued a buy rating and a $130.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $119.92.
DRI traded down $1.93 on Thursday, hitting $107.45. 37,398 shares of the company were exchanged, compared to its average volume of 1,367,159. The company has a current ratio of 0.41, a quick ratio of 0.26 and a debt-to-equity ratio of 0.41. Darden Restaurants has a fifty-two week low of $82.38 and a fifty-two week high of $124.00. The firm has a market capitalization of $13.37 billion, a P/E ratio of 22.36, a PEG ratio of 2.05 and a beta of 0.17.
In other Darden Restaurants news, COO David C. George sold 55,671 shares of the stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $108.24, for a total transaction of $6,025,829.04. Following the transaction, the chief operating officer now owns 95,236 shares of the company’s stock, valued at $10,308,344.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Eugene I. Lee, Jr. sold 60,688 shares of the stock in a transaction that occurred on Wednesday, September 26th. The stock was sold at an average price of $112.63, for a total transaction of $6,835,289.44. Following the transaction, the insider now directly owns 147,561 shares in the company, valued at approximately $16,619,795.43. The disclosure for this sale can be found here. Corporate insiders own 0.65% of the company’s stock.
A number of large investors have recently bought and sold shares of DRI. Ffcm LLC raised its stake in Darden Restaurants by 722.1% during the third quarter. Ffcm LLC now owns 49,966 shares of the restaurant operator’s stock worth $143,000 after purchasing an additional 43,888 shares during the period. Stratos Wealth Partners LTD. purchased a new position in Darden Restaurants during the third quarter worth approximately $149,000. Harvest Fund Management Co. Ltd raised its stake in Darden Restaurants by 171.8% during the third quarter. Harvest Fund Management Co. Ltd now owns 1,571 shares of the restaurant operator’s stock worth $175,000 after purchasing an additional 993 shares during the period. Moneta Group Investment Advisors LLC raised its stake in Darden Restaurants by 92.9% during the second quarter. Moneta Group Investment Advisors LLC now owns 1,640 shares of the restaurant operator’s stock worth $176,000 after purchasing an additional 790 shares during the period. Finally, Smithfield Trust Co. raised its stake in Darden Restaurants by 537.3% during the third quarter. Smithfield Trust Co. now owns 1,625 shares of the restaurant operator’s stock worth $181,000 after purchasing an additional 1,370 shares during the period. 90.52% of the stock is currently owned by institutional investors.
About Darden Restaurants
Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 27, 2018, it owned and operated approximately 1,746 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Bahama Breeze, Seasons 52, and Eddie V's brands.
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