Darden Restaurants, Inc. (NYSE:DRI - Get Free Report) insider Melvin John Martin sold 7,673 shares of Darden Restaurants stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $165.52, for a total value of $1,270,034.96. Following the transaction, the insider now owns 17,208 shares of the company's stock, valued at $2,848,268.16. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
Darden Restaurants Stock Up 0.1 %
Shares of DRI opened at $167.15 on Friday. The stock has a market capitalization of $19.96 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 1.84 and a beta of 1.26. Darden Restaurants, Inc. has a 52 week low of $133.36 and a 52 week high of $176.84. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.25 and a current ratio of 0.39. The stock has a fifty day moving average of $167.41 and a 200-day moving average of $157.51.
Darden Restaurants (NYSE:DRI - Get Free Report) last announced its earnings results on Thursday, March 21st. The restaurant operator reported $2.62 earnings per share for the quarter, missing analysts' consensus estimates of $2.63 by ($0.01). The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.02 billion. Darden Restaurants had a return on equity of 49.94% and a net margin of 9.24%. Darden Restaurants's quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.34 EPS. As a group, sell-side analysts anticipate that Darden Restaurants, Inc. will post 8.85 earnings per share for the current fiscal year.
Darden Restaurants Announces Dividend
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be paid a dividend of $1.31 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $5.24 annualized dividend and a yield of 3.13%. Darden Restaurants's dividend payout ratio is currently 61.43%.
Analyst Ratings Changes
Several brokerages have recently weighed in on DRI. StockNews.com lowered shares of Darden Restaurants from a "buy" rating to a "hold" rating in a research report on Thursday, January 4th. KeyCorp upped their target price on Darden Restaurants from $175.00 to $177.00 and gave the company an "overweight" rating in a research report on Wednesday, December 13th. Guggenheim lifted their price target on Darden Restaurants from $180.00 to $185.00 and gave the stock a "buy" rating in a report on Tuesday, March 19th. Oppenheimer reduced their target price on shares of Darden Restaurants from $186.00 to $182.00 and set an "outperform" rating for the company in a research report on Friday, March 22nd. Finally, BMO Capital Markets boosted their price objective on shares of Darden Restaurants from $160.00 to $165.00 and gave the company a "market perform" rating in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $178.85.
Get Our Latest Analysis on DRI
Institutional Trading of Darden Restaurants
Large investors have recently modified their holdings of the stock. Nomura Holdings Inc. acquired a new stake in shares of Darden Restaurants in the 4th quarter valued at about $838,000. HighPoint Advisor Group LLC bought a new position in Darden Restaurants in the fourth quarter worth approximately $646,000. SageView Advisory Group LLC increased its holdings in shares of Darden Restaurants by 35.3% during the fourth quarter. SageView Advisory Group LLC now owns 3,272 shares of the restaurant operator's stock valued at $536,000 after acquiring an additional 854 shares in the last quarter. Willner & Heller LLC acquired a new position in shares of Darden Restaurants during the fourth quarter worth approximately $213,000. Finally, Wellington Management Group LLP grew its position in Darden Restaurants by 10.3% in the 4th quarter. Wellington Management Group LLP now owns 1,809,155 shares of the restaurant operator's stock valued at $297,244,000 after purchasing an additional 169,642 shares during the period. Institutional investors and hedge funds own 93.64% of the company's stock.
About Darden Restaurants
(
Get Free Report)
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.
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