Darden Restaurants Inc. (NYSE:DRI) SVP Danielle L. Kirgan sold 8,780 shares of the company’s stock in a transaction dated Tuesday, October 11th. The stock was 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 approximately $998,832.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Darden Restaurants Inc. (NYSE:DRI) opened at 62.18 on Friday. The company has a 50-day moving average price of $61.92 and a 200-day moving average price of $63.67. Darden Restaurants Inc. has a 12-month low of $53.38 and a 12-month high of $68.68. The firm has a market cap of $7.65 billion, a P/E ratio of 20.08 and a beta of 0.41.
Darden Restaurants (NYSE:DRI) last issued its earnings results on Tuesday, October 4th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.06. Darden Restaurants had a return on equity of 24.97% and a net margin of 5.73%. The firm had revenue of $1.71 billion for the quarter. During the same quarter last year, the business posted $0.68 EPS. Darden Restaurants’s quarterly revenue was up 1.6% on a year-over-year basis. On average, analysts predict that Darden Restaurants Inc. will post $3.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be issued a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date is Wednesday, October 5th. Darden Restaurants’s dividend payout ratio (DPR) is currently 72.03%.
A number of institutional investors have recently modified their holdings of the company. CENTRAL TRUST Co boosted 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 worth $114,000 after buying an additional 255 shares during the period. Krilogy Financial LLC boosted 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 worth $135,000 after buying an additional 33 shares during the period. Pacer Advisors Inc. boosted 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 worth $150,000 after buying an additional 195 shares during the period. M&R Capital Management Inc. bought a new position in shares of Darden Restaurants during the second quarter worth about $158,000. Finally, Citizens Financial Group Inc RI boosted 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 worth $167,000 after buying an additional 1,920 shares during the period. Hedge funds and other institutional investors own 94.57% of the company’s stock.
Several research firms recently weighed in on DRI. Wells Fargo & Co. downgraded shares of Darden Restaurants from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $72.00 to $68.00 in a report on Wednesday, July 13th. Stifel Nicolaus downgraded shares of Darden Restaurants from a “hold” rating to a “sell” rating and set a $53.00 price objective for the company. in a report on Tuesday, July 26th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $76.00 price objective (down previously from $78.00) on shares of Darden Restaurants in a report on Saturday, July 2nd. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Darden Restaurants in a report on Wednesday, September 7th. Finally, Canaccord Genuity began coverage on shares of Darden Restaurants in a report on Monday, August 22nd. They issued a “buy” rating and a $74.00 price objective for the company. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $69.89.
About Darden Restaurants