Insider Selling: Darden Restaurants, Inc. (NYSE:DRI) CEO Sells 20,518 Shares of Stock

Darden Restaurants, Inc. (NYSE:DRI) CEO Ricardo Cardenas sold 20,518 shares of the stock in a transaction on Monday, March 24th. The shares were sold at an average price of $208.19, for a total value of $4,271,642.42. Following the completion of the transaction, the chief executive officer now directly owns 58,836 shares of the company’s stock, valued at approximately $12,249,066.84. This represents a 25.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Darden Restaurants Price Performance

Darden Restaurants stock opened at $207.90 on Friday. The company’s 50 day moving average is $194.15 and its two-hundred day moving average is $177.98. The firm has a market cap of $24.35 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 2.15 and a beta of 1.27. The company has a quick ratio of 0.23, a current ratio of 0.37 and a debt-to-equity ratio of 1.02. Darden Restaurants, Inc. has a 52-week low of $135.87 and a 52-week high of $211.00.

Darden Restaurants (NYSE:DRI) last released its earnings results on Thursday, March 20th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.80. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.22 billion. During the same period last year, the business posted $2.60 earnings per share. Darden Restaurants’s revenue was up 6.2% compared to the same quarter last year. On average, research analysts expect that Darden Restaurants, Inc. will post 9.52 EPS for the current fiscal year.

Darden Restaurants Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $5.60 annualized dividend and a dividend yield of 2.69%. Darden Restaurants’s dividend payout ratio is currently 63.13%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on DRI shares. Citigroup raised their price target on shares of Darden Restaurants from $223.00 to $229.00 and gave the stock a “buy” rating in a research note on Friday, March 21st. TD Securities boosted their target price on Darden Restaurants from $180.00 to $190.00 and gave the stock a “hold” rating in a report on Friday, March 21st. Bank of America upped their price target on Darden Restaurants from $230.00 to $238.00 and gave the company a “buy” rating in a research report on Friday, March 21st. Morgan Stanley lifted their price objective on Darden Restaurants from $209.00 to $217.00 and gave the stock an “overweight” rating in a research report on Friday, March 21st. Finally, Raymond James upped their target price on Darden Restaurants from $200.00 to $210.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $202.08.

Hedge Funds Weigh In On Darden Restaurants

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kestra Investment Management LLC acquired a new stake in Darden Restaurants during the 4th quarter worth $25,000. Compass Wealth Management LLC acquired a new stake in shares of Darden Restaurants in the 4th quarter valued at about $28,000. TCTC Holdings LLC purchased a new position in Darden Restaurants during the 4th quarter worth approximately $28,000. MCF Advisors LLC increased its position in Darden Restaurants by 50.9% during the fourth quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator’s stock worth $33,000 after buying an additional 59 shares during the period. Finally, HHM Wealth Advisors LLC boosted its holdings in shares of Darden Restaurants by 103.2% in the fourth 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 during the period. 93.64% of the stock is owned by institutional investors and hedge funds.

Darden Restaurants Company Profile

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.