Darden Restaurants, Inc. (NYSE:DRI) Insider Sells $286,552.00 in Stock

Darden Restaurants, Inc. (NYSE:DRI) insider Laura B. Williamson sold 1,666 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $172.00, for a total value of $286,552.00. Following the sale, the insider now owns 5,334 shares of the company’s stock, valued at $917,448. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Darden Restaurants Stock Down 0.1 %

DRI stock opened at $167.95 on Friday. The firm has a market capitalization of $20.30 billion, a PE ratio of 19.71, a P/E/G ratio of 1.99 and a beta of 1.30. The company has a quick ratio of 0.22, a current ratio of 0.35 and a debt-to-equity ratio of 0.65. Darden Restaurants, Inc. has a twelve month low of $133.36 and a twelve month high of $176.84. The stock’s 50 day moving average is $152.92 and its 200-day moving average is $153.39.

Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Thursday, September 19th. The restaurant operator reported $1.75 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.08). Darden Restaurants had a net margin of 9.11% and a return on equity of 49.46%. The company had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.80 billion. During the same quarter last year, the business posted $1.78 earnings per share. Darden Restaurants’s revenue was up 1.0% on a year-over-year basis. Sell-side analysts expect that Darden Restaurants, Inc. will post 9.48 EPS for the current fiscal year.

Darden Restaurants Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 3.33%. This is an increase from Darden Restaurants’s previous quarterly dividend of $1.29. The ex-dividend date of this dividend is Thursday, October 10th. Darden Restaurants’s dividend payout ratio is presently 65.73%.

Analysts Set New Price Targets

DRI has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Darden Restaurants from $165.00 to $176.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Evercore ISI raised Darden Restaurants from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $165.00 to $205.00 in a research note on Friday, September 20th. BTIG Research boosted their price objective on shares of Darden Restaurants from $175.00 to $195.00 and gave the stock a “buy” rating in a research note on Friday, September 20th. TD Cowen reiterated a “hold” rating and issued a $150.00 target price on shares of Darden Restaurants in a report on Thursday, September 19th. Finally, Citigroup decreased their price target on Darden Restaurants from $192.00 to $191.00 and set a “buy” rating for the company in a report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.25.

Hedge Funds Weigh In On Darden Restaurants

Several hedge funds have recently modified their holdings of DRI. Rise Advisors LLC increased its position in shares of Darden Restaurants by 131.3% during the first quarter. Rise Advisors LLC now owns 155 shares of the restaurant operator’s stock valued at $26,000 after acquiring an additional 88 shares during the last quarter. ESL Trust Services LLC bought a new position in Darden Restaurants in the 1st quarter valued at $27,000. Meeder Asset Management Inc. purchased a new stake in shares of Darden Restaurants during the 2nd quarter valued at $27,000. Kimelman & Baird LLC purchased a new stake in shares of Darden Restaurants during the 2nd quarter valued at $30,000. Finally, Innealta Capital LLC bought a new stake in shares of Darden Restaurants during the 2nd quarter worth $31,000. 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.