Wells Fargo analyst Zachary Fadem initiated coverage with a Hold rating on Darden (DRI – Research Report) today and set a price target of $155.00. The company’s shares closed today at $148.11.
Fadem covers the Consumer Goods sector, focusing on stocks such as Advance Auto Parts, Wayfair, and AutoZone. According to TipRanks, Fadem has an average return of 16.7% and a 65.48% success rate on recommended stocks.
Darden has an analyst consensus of Moderate Buy, with a price target consensus of $154.84.
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Based on Darden’s latest earnings release for the quarter ending November 30, the company reported a quarterly revenue of $2.49 billion and a net profit of $187.2 million. In comparison, last year the company earned a revenue of $2.27 billion and had a net profit of $193.2 million
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of DRI in relation to earlier this year. Most recently, in October 2022, Kiernan Daniel J., the President of DRI sold 10,290.00 shares for a total of $1,445,939.16.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Darden Restaurants, Inc. is a full-service restaurant company, which engages in the provision of restaurant services. It operates through the following segments: Olive Garden, LongHorn Steakhouse, Fine Dining, and Other Business. The Olive Garden segment is the largest full-service dining Italian restaurant operator. The LongHorn Steakhouse segment includes the results of the company-owned LongHorn Steakhouse restaurants. The Fine Dining segment comprises of the premium brands that operate within the fine-dining sub-segment of full-service dining and includes the results of its company-owned The Capital Grille and Eddie V’s restaurants. The Other Business segment aggregates the remaining brands and includes the results of its company-owned Cheddar’s Scratch Kitchen, Yard House, Seasons 52 and Bahama Breeze restaurants; and from franchises and consumer-packaged goods sales. The company was founded by William B. Darden in 1938 and is headquartered in Orlando, FL.
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