The 8,780 Shares of Darden Restaurants Inc. (DRI) Stock are sold by Danielle L. Kirgan

The 8,780 Shares of Darden Restaurants Inc. (DRI) Stock are sold by Danielle L. Kirgan

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.

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