Darden Restaurants Inc. (NYSE:DRI) SVP Danielle L. Kirgan sold 8,780 shares of the business’s stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $62.47, for a total transaction of $548,486.60. Following the transaction, the senior vice president now owns 15,989 shares of the company’s stock, valued at $998,832.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Darden Restaurants Inc. (NYSE:DRI) opened at 62.80 on Thursday. The firm has a 50-day moving average of $61.94 and a 200 day moving average of $63.68. Darden Restaurants Inc. has a 1-year low of $53.38 and a 1-year high of $68.68. The stock has a market cap of $7.73 billion, a price-to-earnings ratio of 20.28 and a beta of 0.41.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Tuesday, October 4th. The restaurant operator reported $0.88 EPS for the quarter, topping the consensus estimate of $0.82 by $0.06. Darden Restaurants had a net margin of 5.73% and a return on equity of 24.97%. The business had revenue of $1.71 billion for the quarter. During the same period in the previous year, the firm earned $0.68 EPS. The company’s revenue was up 1.6% on a year-over-year basis. Equities research analysts forecast that Darden Restaurants Inc. will post $3.92 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be paid a $0.56 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $2.24 annualized dividend and a dividend yield of 3.57%. Darden Restaurants’s dividend payout ratio is presently 72.03%.
Several research analysts have commented on the stock. RBC Capital Markets restated a “sector perform” rating and set a $70.00 price objective on shares of Darden Restaurants in a research report on Wednesday. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $70.00 price target on shares of Darden Restaurants in a report on Friday, October 7th. Zacks Investment Research upgraded shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a report on Thursday, October 6th. SunTrust Banks Inc. lowered their price target on shares of Darden Restaurants from $70.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, October 5th. Finally, Bank of America Corp. reiterated a “sell” rating on shares of Darden Restaurants in a report on Wednesday, October 5th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $69.89.
Several hedge funds and other institutional investors have recently modified their holdings of DRI. CENTRAL TRUST Co increased its position in shares of Darden Restaurants by 16.5% in the second quarter. CENTRAL TRUST Co now owns 1,799 shares of the restaurant operator’s stock valued at $114,000 after buying an additional 255 shares in the last quarter. Krilogy Financial LLC increased its position in shares of Darden Restaurants by 1.6% in the second quarter. Krilogy Financial LLC now owns 2,133 shares of the restaurant operator’s stock valued at $135,000 after buying an additional 33 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Darden Restaurants by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,369 shares of the restaurant operator’s stock valued at $150,000 after buying an additional 195 shares in the last quarter. M&R Capital Management Inc. purchased a new position in shares of Darden Restaurants during the second quarter valued at about $158,000. Finally, Citizens Financial Group Inc RI increased its position in shares of Darden Restaurants by 320.0% in the first quarter. Citizens Financial Group Inc RI now owns 2,520 shares of the restaurant operator’s stock valued at $167,000 after buying an additional 1,920 shares in the last quarter. Hedge funds and other institutional investors own 94.57% of the company’s stock.
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).
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