Darden Restaurants, Inc. (NYSE:DRI) Receives Consensus Rating of “Buy” from Analysts

Darden Restaurants, Inc. (NYSE:DRIGet Rating) has received an average rating of “Buy” from the twenty-three ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $161.37.

A number of analysts recently issued reports on the stock. Barclays decreased their target price on shares of Darden Restaurants from $173.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, March 25th. Stephens decreased their target price on shares of Darden Restaurants from $176.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, March 25th. Oppenheimer decreased their target price on shares of Darden Restaurants from $185.00 to $175.00 and set an “outperform” rating on the stock in a research report on Friday, March 18th. Morgan Stanley decreased their target price on shares of Darden Restaurants from $171.00 to $161.00 and set an “overweight” rating on the stock in a research report on Friday, March 25th. Finally, StockNews.com upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating in a research report on Thursday.

In related news, Director Juliana L. Chugg bought 1,925 shares of the company’s stock in a transaction dated Monday, March 28th. The stock was bought at an average price of $129.01 per share, with a total value of $248,344.25. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.95% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. James Reed Financial Services Inc. bought a new stake in shares of Darden Restaurants during the 4th quarter valued at about $26,000. Princeton Global Asset Management LLC bought a new stake in shares of Darden Restaurants during the 1st quarter valued at about $27,000. Dravo Bay LLC bought a new stake in shares of Darden Restaurants during the 1st quarter valued at about $27,000. FourThought Financial LLC bought a new stake in shares of Darden Restaurants during the 4th quarter valued at about $31,000. Finally, Benjamin Edwards Inc. bought a new stake in shares of Darden Restaurants during the 4th quarter valued at about $34,000. 90.71% of the stock is owned by institutional investors.

Shares of DRI opened at $125.09 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.57. The firm has a 50 day simple moving average of $128.96 and a 200-day simple moving average of $137.75. Darden Restaurants has a 1-year low of $111.57 and a 1-year high of $164.28. The stock has a market cap of $15.60 billion, a price-to-earnings ratio of 15.75, a price-to-earnings-growth ratio of 1.58 and a beta of 1.32.

Darden Restaurants (NYSE:DRIGet Rating) last issued its quarterly earnings data on Thursday, March 24th. The restaurant operator reported $1.93 earnings per share for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.16). Darden Restaurants had a return on equity of 36.26% and a net margin of 11.17%. The business had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period last year, the business earned $0.98 earnings per share. The company’s revenue for the quarter was up 41.3% on a year-over-year basis. On average, equities analysts expect that Darden Restaurants will post 7.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Investors of record on Friday, April 8th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 3.52%. The ex-dividend date was Thursday, April 7th. Darden Restaurants’s dividend payout ratio (DPR) is 55.42%.

Darden Restaurants Company Profile (Get Rating)

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 30, 2021, it owned and operated 1,834 restaurants, which included 875 under the Olive Garden, 533 under the LongHorn Steakhouse, 170 under the Cheddar's Scratch Kitchen, 81 under the Yard House, 63 under The Capital Grille, 44 under the Seasons 52, 42 under the Bahama Breeze, and 26 under the Eddie V's Prime Seafood brands.

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Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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