Darden Restaurants (NYSE:DRI) Given New $235.00 Price Target at Guggenheim

Darden Restaurants (NYSE:DRI) had its price target lifted by Guggenheim from $220.00 to $235.00 in a report published on Wednesday morning,Benzinga reports. Guggenheim currently has a buy rating on the restaurant operator’s stock.

DRI has been the topic of a number of other reports. TD Securities restated a “hold” rating and set a $215.00 price objective on shares of Darden Restaurants in a report on Friday, June 20th. Stephens raised their price objective on shares of Darden Restaurants from $212.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, September 12th. Truist Financial restated a “buy” rating and set a $252.00 price objective on shares of Darden Restaurants in a report on Tuesday, September 2nd. Melius began coverage on shares of Darden Restaurants in a report on Monday, July 14th. They set a “hold” rating and a $240.00 price objective on the stock. Finally, Morgan Stanley raised their price objective on shares of Darden Restaurants from $215.00 to $235.00 and gave the stock an “overweight” rating in a report on Wednesday, June 18th. Sixteen investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $225.54.

Darden Restaurants Trading Down 0.6%

Shares of NYSE DRI opened at $208.81 on Wednesday. The company’s fifty day moving average is $207.27 and its 200-day moving average is $206.14. The stock has a market cap of $24.35 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 1.93 and a beta of 0.71. Darden Restaurants has a twelve month low of $155.18 and a twelve month high of $228.27. The company has a quick ratio of 0.28, a current ratio of 0.42 and a debt-to-equity ratio of 0.92.

Darden Restaurants (NYSE:DRI) last announced its quarterly earnings results on Friday, June 20th. The restaurant operator reported $2.98 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.01. The company had revenue of $3.27 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Darden Restaurants had a net margin of 8.69% and a return on equity of 51.81%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted $2.65 earnings per share. Darden Restaurants has set its FY 2026 guidance at 10.500-10.700 EPS. Equities research analysts predict that Darden Restaurants will post 9.52 EPS for the current year.

Darden Restaurants Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Thursday, July 10th were issued a $1.50 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $6.00 dividend on an annualized basis and a yield of 2.9%. This is an increase from Darden Restaurants’s previous quarterly dividend of $1.40. Darden Restaurants’s payout ratio is presently 67.57%.

Darden Restaurants announced that its board has initiated a share buyback plan on Friday, June 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the restaurant operator to buy up to 3.8% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Darden Restaurants

In other Darden Restaurants news, CFO Rajesh Vennam sold 5,780 shares of the business’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $222.22, for a total value of $1,284,431.60. Following the completion of the sale, the chief financial officer owned 4,555 shares of the company’s stock, valued at $1,012,212.10. The trade was a 55.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Matthew R. Broad sold 733 shares of the business’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $218.50, for a total transaction of $160,160.50. Following the completion of the sale, the senior vice president directly owned 14,367 shares of the company’s stock, valued at $3,139,189.50. This represents a 4.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,727 shares of company stock worth $10,022,232. Company insiders own 0.49% of the company’s stock.

Institutional Trading of Darden Restaurants

Institutional investors have recently bought and sold shares of the business. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Darden Restaurants during the 2nd quarter worth approximately $26,000. Grove Bank & Trust lifted its holdings in shares of Darden Restaurants by 171.4% during the 1st quarter. Grove Bank & Trust now owns 133 shares of the restaurant operator’s stock worth $28,000 after acquiring an additional 84 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in shares of Darden Restaurants during the 2nd quarter worth approximately $29,000. True Wealth Design LLC lifted its holdings in shares of Darden Restaurants by 419.2% during the 2nd quarter. True Wealth Design LLC now owns 135 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 109 shares during the period. Finally, ORG Partners LLC lifted its holdings in shares of Darden Restaurants by 108.8% during the 1st quarter. ORG Partners LLC now owns 142 shares of the restaurant operator’s stock worth $30,000 after acquiring an additional 74 shares during the period. Institutional investors own 93.64% of the company’s stock.

About Darden Restaurants

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.