Darden Restaurants (NYSE:DRI) Price Target Cut to $134.00

Darden Restaurants (NYSE:DRIGet Rating) had its target price decreased by equities research analysts at Citigroup from $162.00 to $134.00 in a research report issued on Tuesday, The Fly reports. Citigroup’s target price suggests a potential upside of 17.26% from the company’s current price.

Several other research firms also recently issued reports on DRI. Cowen lowered their price objective on Darden Restaurants from $175.00 to $155.00 and set an “outperform” rating for the company in a research note on Friday, March 25th. StockNews.com raised shares of Darden Restaurants from a “hold” rating to a “buy” rating in a research report on Thursday, May 26th. Barclays decreased their target price on shares of Darden Restaurants from $160.00 to $143.00 in a research report on Thursday, June 9th. Royal Bank of Canada decreased their target price on shares of Darden Restaurants from $153.00 to $151.00 and set an “outperform” rating for the company in a research report on Friday, March 25th. Finally, Raymond James decreased their target price on shares of Darden Restaurants from $156.00 to $153.00 and set an “outperform” rating for the company in a research report on Friday, March 25th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $160.26.

Darden Restaurants stock opened at $114.28 on Tuesday. The business has a 50 day moving average of $127.07 and a 200-day moving average of $135.57. Darden Restaurants has a 1 year low of $111.57 and a 1 year high of $164.28. 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 company has a market capitalization of $14.25 billion, a P/E ratio of 14.39, a P/E/G ratio of 1.45 and a beta of 1.32.

Darden Restaurants (NYSE:DRIGet Rating) last released its quarterly earnings data on Thursday, March 24th. The restaurant operator reported $1.93 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by ($0.16). Darden Restaurants had a net margin of 11.17% and a return on equity of 36.26%. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the company earned $0.98 EPS. The business’s quarterly revenue was up 41.3% compared to the same quarter last year. Equities analysts anticipate that Darden Restaurants will post 7.38 EPS for the current year.

In related news, Director Juliana L. Chugg acquired 1,925 shares of the company’s stock in a transaction on Monday, March 28th. The shares were acquired at an average cost of $129.01 per share, for a total transaction of $248,344.25. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.95% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DRI. Capital International Investors raised its stake in shares of Darden Restaurants by 5.7% during the 1st quarter. Capital International Investors now owns 15,832,043 shares of the restaurant operator’s stock worth $2,104,832,000 after purchasing an additional 857,052 shares during the period. Norges Bank bought a new stake in shares of Darden Restaurants during the 4th quarter worth $105,979,000. Ardevora Asset Management LLP bought a new stake in shares of Darden Restaurants during the 1st quarter worth $61,582,000. Capital Research Global Investors raised its stake in shares of Darden Restaurants by 41.2% during the 4th quarter. Capital Research Global Investors now owns 1,426,520 shares of the restaurant operator’s stock worth $214,886,000 after purchasing an additional 416,048 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Darden Restaurants by 33.5% during the 1st quarter. Wellington Management Group LLP now owns 1,572,849 shares of the restaurant operator’s stock worth $209,110,000 after purchasing an additional 394,786 shares during the period. Institutional investors own 90.71% of the company’s stock.

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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