Darden Restaurants (NYSE:DRI) Rating Reiterated by Jefferies Financial Group

Jefferies Financial Group reiterated their hold rating on shares of Darden Restaurants (NYSE:DRI) in a research report sent to investors on Friday morning, TipRanks reports. The firm currently has a $75.00 price objective on the restaurant operator’s stock. Jefferies Financial Group also issued estimates for Darden Restaurants’ Q1 2022 earnings at $1.35 EPS, Q2 2022 earnings at $1.21 EPS, Q4 2022 earnings at $1.46 EPS and FY2022 earnings at $5.66 EPS.

A number of other analysts have also recently commented on the company. Loop Capital upped their price objective on Darden Restaurants from $80.00 to $90.00 and gave the company a buy rating in a research report on Friday. Raymond James boosted their price target on Darden Restaurants from $75.00 to $90.00 and gave the company a strong-buy rating in a research note on Wednesday, May 20th. Wolfe Research started coverage on shares of Darden Restaurants in a research note on Friday, April 17th. They issued an outperform rating and a $75.00 price objective on the stock. Robert W. Baird dropped their price objective on shares of Darden Restaurants from $90.00 to $82.00 and set a neutral rating on the stock in a report on Friday. Finally, Wedbush raised shares of Darden Restaurants from a neutral rating to an outperform rating in a report on Sunday, April 19th. Fifteen research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $90.48.

Shares of DRI stock opened at $76.63 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.41 and a debt-to-equity ratio of 2.24. The company has a 50 day moving average price of $75.85 and a 200-day moving average price of $87.82. Darden Restaurants has a 52 week low of $26.15 and a 52 week high of $128.41. The firm has a market capitalization of $8.81 billion, a PE ratio of -191.58, a P/E/G ratio of 2.96 and a beta of 1.32.

Darden Restaurants (NYSE:DRI) last issued its earnings results on Thursday, June 25th. The restaurant operator reported ($1.24) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.64) by $0.40. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Darden Restaurants had a negative net margin of 0.67% and a positive return on equity of 16.68%. The firm’s quarterly revenue was down 43.5% on a year-over-year basis. During the same quarter last year, the company posted $1.76 earnings per share. Analysts anticipate that Darden Restaurants will post 2.46 earnings per share for the current year.

In other news, CEO Eugene I. Lee, Jr. bought 25,641 shares of Darden Restaurants stock in a transaction dated Thursday, April 23rd. The shares were purchased at an average cost of $58.50 per share, with a total value of $1,499,998.50. Following the completion of the acquisition, the chief executive officer now owns 177,264 shares of the company’s stock, valued at approximately $10,369,944. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Todd Burrowes purchased 2,564 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were purchased at an average cost of $58.50 per share, with a total value of $149,994.00. Following the completion of the purchase, the insider now owns 25,216 shares of the company’s stock, valued at approximately $1,475,136. The disclosure for this purchase can be found here. Insiders acquired a total of 37,178 shares of company stock valued at $2,174,913 over the last 90 days. 0.47% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Capital World Investors raised its holdings in shares of Darden Restaurants by 29.1% during the 1st quarter. Capital World Investors now owns 6,550,761 shares of the restaurant operator’s stock worth $356,754,000 after acquiring an additional 1,474,817 shares in the last quarter. State Street Corp increased its position in Darden Restaurants by 6.7% in the first quarter. State Street Corp now owns 6,156,113 shares of the restaurant operator’s stock worth $335,262,000 after purchasing an additional 385,441 shares during the last quarter. Victory Capital Management Inc. raised its stake in Darden Restaurants by 39.2% during the first quarter. Victory Capital Management Inc. now owns 3,346,998 shares of the restaurant operator’s stock valued at $182,278,000 after purchasing an additional 942,118 shares in the last quarter. Capital International Investors lifted its position in Darden Restaurants by 23.2% during the first quarter. Capital International Investors now owns 3,332,094 shares of the restaurant operator’s stock valued at $181,466,000 after purchasing an additional 628,147 shares during the last quarter. Finally, Melvin Capital Management LP purchased a new position in shares of Darden Restaurants in the 1st quarter worth $175,634,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Darden Restaurants Company Profile

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.

Further Reading: Diluted Earnings Per Share

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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