Darden Restaurants (NYSE:DRI) PT Set at $126.00 by Maxim Group

Darden Restaurants (NYSE:DRI) has been assigned a $126.00 price objective by research analysts at Maxim Group in a research report issued on Friday, TipRanks reports. The brokerage presently has a “hold” rating on the restaurant operator’s stock. Maxim Group’s price target suggests a potential downside of 1.05% from the company’s previous close.

DRI has been the subject of several other research reports. Citigroup cut their price target on Darden Restaurants from $146.00 to $144.00 and set a “buy” rating for the company in a report on Friday, June 28th. Stephens downgraded Darden Restaurants from an “overweight” rating to an “equal weight” rating and set a $121.75 price target for the company. in a report on Friday, June 28th. Zacks Investment Research downgraded Darden Restaurants from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a report on Wednesday, June 12th. Wedbush reaffirmed a “hold” rating and set a $125.00 price target on shares of Darden Restaurants in a report on Thursday, August 29th. Finally, ValuEngine downgraded Darden Restaurants from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $126.08.

Darden Restaurants stock traded up $1.28 during mid-day trading on Friday, hitting $127.34. 1,061,091 shares of the company’s stock traded hands, compared to its average volume of 937,882. The firm has a 50 day simple moving average of $121.68 and a two-hundred day simple moving average of $119.21. Darden Restaurants has a fifty-two week low of $95.83 and a fifty-two week high of $128.41. The stock has a market cap of $15.52 billion, a price-to-earnings ratio of 21.88, a P/E/G ratio of 1.96 and a beta of 0.34. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.61 and a quick ratio of 0.46.



Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Thursday, June 20th. The restaurant operator reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.03. Darden Restaurants had a return on equity of 31.61% and a net margin of 8.38%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter last year, the firm posted $1.39 EPS. The company’s quarterly revenue was up 4.5% on a year-over-year basis. On average, research analysts anticipate that Darden Restaurants will post 6.39 earnings per share for the current fiscal year.

In other news, COO David C. George sold 69,779 shares of Darden Restaurants stock in a transaction on Monday, June 24th. The stock was sold at an average price of $123.25, for a total transaction of $8,600,261.75. Following the completion of the sale, the chief operating officer now owns 109,344 shares of the company’s stock, valued at $13,476,648. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John W. Madonna sold 1,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $124.12, for a total value of $124,120.00. Following the completion of the transaction, the senior vice president now directly owns 8,726 shares of the company’s stock, valued at approximately $1,083,071.12. The disclosure for this sale can be found here. Insiders have sold 96,907 shares of company stock valued at $11,975,585 in the last three months. Insiders own 0.47% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the stock. Wetherby Asset Management Inc. grew its position in Darden Restaurants by 1.5% in the second quarter. Wetherby Asset Management Inc. now owns 5,334 shares of the restaurant operator’s stock valued at $649,000 after acquiring an additional 81 shares during the last quarter. NuWave Investment Management LLC grew its position in Darden Restaurants by 34.5% in the second quarter. NuWave Investment Management LLC now owns 351 shares of the restaurant operator’s stock valued at $43,000 after acquiring an additional 90 shares during the last quarter. HM Payson & Co. grew its position in Darden Restaurants by 0.8% in the second quarter. HM Payson & Co. now owns 12,674 shares of the restaurant operator’s stock valued at $1,543,000 after acquiring an additional 101 shares during the last quarter. Wealthfront Advisers LLC grew its holdings in shares of Darden Restaurants by 2.9% during the first quarter. Wealthfront Advisers LLC now owns 3,941 shares of the restaurant operator’s stock worth $479,000 after purchasing an additional 112 shares during the last quarter. Finally, Leisure Capital Management grew its holdings in shares of Darden Restaurants by 1.8% during the first quarter. Leisure Capital Management now owns 6,534 shares of the restaurant operator’s stock worth $794,000 after purchasing an additional 117 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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