Darden Restaurants, Inc. (NYSE:DRI) SVP Sells $2,390,653.83 in Stock

Darden Restaurants, Inc. (NYSE:DRI) SVP Matthew R. Broad sold 12,759 shares of Darden Restaurants stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $187.37, for a total value of $2,390,653.83. Following the completion of the transaction, the senior vice president now owns 14,328 shares in the company, valued at approximately $2,684,637.36. This represents a 47.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Darden Restaurants Stock Performance

Shares of DRI opened at $187.69 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.37 and a debt-to-equity ratio of 1.02. The business’s 50 day moving average price is $177.44 and its 200-day moving average price is $163.36. Darden Restaurants, Inc. has a 52 week low of $135.87 and a 52 week high of $189.18. The stock has a market cap of $21.99 billion, a P/E ratio of 21.50, a P/E/G ratio of 2.05 and a beta of 1.31.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Thursday, December 19th. The restaurant operator reported $2.03 EPS for the quarter, hitting analysts’ consensus estimates of $2.03. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period in the previous year, the firm posted $1.84 EPS. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that Darden Restaurants, Inc. will post 9.52 earnings per share for the current fiscal year.

Darden Restaurants Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be given a $1.40 dividend. The ex-dividend date is Friday, January 10th. This represents a $5.60 annualized dividend and a yield of 2.98%. Darden Restaurants’s dividend payout ratio (DPR) is presently 64.15%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DRI. Citigroup decreased their price objective on Darden Restaurants from $209.00 to $206.00 and set a “buy” rating on the stock in a report on Wednesday, December 4th. KeyCorp lifted their price objective on Darden Restaurants from $194.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Bank of America boosted their price target on Darden Restaurants from $195.00 to $211.00 and gave the company a “buy” rating in a report on Friday, December 20th. Barclays boosted their price target on Darden Restaurants from $206.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Finally, Morgan Stanley boosted their price target on Darden Restaurants from $193.00 to $209.00 and gave the company an “overweight” rating in a report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $190.52.

Hedge Funds Weigh In On Darden Restaurants

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DRI. Compass Wealth Management LLC bought a new position in Darden Restaurants in the 4th quarter valued at approximately $28,000. Kimelman & Baird LLC bought a new position in Darden Restaurants in the 2nd quarter valued at approximately $30,000. Wolff Wiese Magana LLC lifted its position in Darden Restaurants by 1,690.9% in the 3rd quarter. Wolff Wiese Magana LLC now owns 197 shares of the restaurant operator’s stock valued at $32,000 after acquiring an additional 186 shares in the last quarter. MCF Advisors LLC lifted its position in Darden Restaurants by 50.9% in the 4th quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator’s stock valued at $33,000 after acquiring an additional 59 shares in the last quarter. Finally, HHM Wealth Advisors LLC lifted its position in Darden Restaurants by 103.2% in the 4th quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator’s stock valued at $47,000 after acquiring an additional 129 shares in the last quarter. 93.64% of the stock is owned by institutional investors.

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.