Darden Restaurants (DRI) PT Set at $99.00 by BMO Capital Markets

Darden Restaurants (NYSE:DRI) has been given a $99.00 price objective by stock analysts at BMO Capital Markets in a report released on Friday. The brokerage currently has a “hold” rating on the restaurant operator’s stock. BMO Capital Markets’ target price suggests a potential upside of 1.00% from the company’s current price.

A number of other research firms also recently commented on DRI. Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $111.00 price objective for the company in a report on Monday, January 8th. Wells Fargo & Co reiterated a “market perform” rating and issued a $99.00 price objective (up previously from $92.00) on shares of Darden Restaurants in a report on Tuesday, January 9th. Maxim Group reiterated a “buy” rating and issued a $112.00 price objective (up previously from $103.00) on shares of Darden Restaurants in a report on Tuesday, January 9th. Credit Suisse Group reiterated a “hold” rating and issued a $95.00 price objective on shares of Darden Restaurants in a report on Friday. Finally, SunTrust Banks set a $104.00 price objective on shares of Darden Restaurants and gave the company a “hold” rating in a report on Thursday. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the company. Darden Restaurants has a consensus rating of “Hold” and a consensus price target of $95.32.

Shares of Darden Restaurants (DRI) opened at $98.02 on Friday. The company has a market cap of $12,108.80, a PE ratio of 25.13, a price-to-earnings-growth ratio of 1.90 and a beta of 0.20. The company has a quick ratio of 0.20, a current ratio of 0.34 and a debt-to-equity ratio of 0.47. Darden Restaurants has a 1-year low of $71.43 and a 1-year high of $100.11.

In related news, CFO Ricardo Cardenas sold 10,783 shares of Darden Restaurants stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $97.17, for a total value of $1,047,784.11. Following the completion of the sale, the chief financial officer now owns 20,046 shares in the company, valued at approximately $1,947,869.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Douglas J. Milanes sold 4,300 shares of Darden Restaurants stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $97.05, for a total transaction of $417,315.00. Following the completion of the sale, the senior vice president now owns 7,513 shares of the company’s stock, valued at approximately $729,136.65. The disclosure for this sale can be found here. Insiders have sold a total of 74,866 shares of company stock valued at $7,252,094 in the last 90 days. Insiders own 0.63% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Oak Point Wealth Management acquired a new stake in Darden Restaurants in the 4th quarter valued at approximately $510,000. Carlson Capital Management acquired a new stake in Darden Restaurants in the 4th quarter valued at approximately $229,000. Hefty Wealth Partners acquired a new stake in Darden Restaurants in the 4th quarter valued at approximately $1,029,000. Parametric Portfolio Associates LLC increased its holdings in Darden Restaurants by 6.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 254,078 shares of the restaurant operator’s stock valued at $20,016,000 after purchasing an additional 14,785 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in Darden Restaurants by 381.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,522 shares of the restaurant operator’s stock valued at $593,000 after purchasing an additional 5,961 shares during the last quarter. Hedge funds and other institutional investors own 91.45% of the company’s stock.

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Darden Restaurants Company Profile

Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).

Analyst Recommendations for Darden Restaurants (NYSE:DRI)

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