Darden Restaurants, Inc. (NYSE:DRI) Insider Sells $474,418.14 in Stock

Darden Restaurants, Inc. (NYSE:DRI) insider Laura B. Williamson sold 2,289 shares of Darden Restaurants stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $207.26, for a total value of $474,418.14. Following the completion of the sale, the insider now directly owns 10,056 shares in the company, valued at $2,084,206.56. This represents a 18.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Darden Restaurants Price Performance

Shares of NYSE DRI opened at $204.89 on Friday. The firm has a market cap of $24.00 billion, a P/E ratio of 23.47, a price-to-earnings-growth ratio of 2.15 and a beta of 1.27. The business’s 50 day moving average is $194.62 and its 200-day moving average is $178.47. The company has a current ratio of 0.37, a quick ratio of 0.23 and a debt-to-equity ratio of 1.02. Darden Restaurants, Inc. has a 1-year low of $135.87 and a 1-year high of $211.00.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, March 20th. The restaurant operator reported $2.80 earnings per share for the quarter, hitting the consensus estimate of $2.80. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.22 billion. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.60 EPS. Equities research analysts predict that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.

Darden Restaurants Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, April 10th. Darden Restaurants’s dividend payout ratio is currently 63.13%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on DRI shares. Truist Financial lifted their target price on Darden Restaurants from $200.00 to $212.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Sanford C. Bernstein upgraded shares of Darden Restaurants from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $180.00 to $215.00 in a report on Wednesday, January 22nd. Raymond James increased their target price on shares of Darden Restaurants from $200.00 to $210.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. The Goldman Sachs Group assumed coverage on shares of Darden Restaurants in a research note on Thursday, December 5th. They issued a “neutral” rating and a $183.00 price target on the stock. Finally, TD Securities raised their price objective on Darden Restaurants from $180.00 to $190.00 and gave the company a “hold” rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $202.08.

Institutional Investors Weigh In On Darden Restaurants

Institutional investors and hedge funds have recently bought and sold shares of the company. California State Teachers Retirement System lifted its stake in Darden Restaurants by 7.7% in the 4th quarter. California State Teachers Retirement System now owns 173,318 shares of the restaurant operator’s stock valued at $32,357,000 after purchasing an additional 12,434 shares during the last quarter. 111 Capital bought a new stake in Darden Restaurants during the 4th quarter worth $1,225,000. Wealth Enhancement Advisory Services LLC increased its holdings in Darden Restaurants by 14.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,553 shares of the restaurant operator’s stock worth $2,157,000 after purchasing an additional 1,437 shares in the last quarter. Aegis Wealth Management LLC bought a new position in Darden Restaurants in the fourth quarter valued at about $322,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Darden Restaurants during the fourth quarter valued at about $15,175,000. Institutional investors own 93.64% of the company’s stock.

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.