Key Points
- Lindsay Koren, SVP of Darden, sold 300 shares on April 7 at an average price of $194.32 for $58,296, reducing her stake by 15.65% to 1,617 shares (about $314,215).
- Darden beat fiscal-quarter estimates (EPS $2.95; revenue $3.35B), declared a quarterly dividend of $1.50 (ex-dividend Apr 10, payable May 1; ~3.1% yield), and carries a consensus analyst rating of Moderate Buy with a $226.24 target.
Darden Restaurants, Inc. (NYSE:DRI - Get Free Report) SVP Lindsay Koren sold 300 shares of the business's stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $194.32, for a total value of $58,296.00. Following the completion of the sale, the senior vice president owned 1,617 shares of the company's stock, valued at $314,215.44. The trade was a 15.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.
Darden Restaurants Stock Up 2.5%
Shares of NYSE DRI opened at $195.40 on Thursday. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.26 and a current ratio of 0.39. The firm has a market capitalization of $22.38 billion, a price-to-earnings ratio of 20.68, a PEG ratio of 1.86 and a beta of 0.64. The stock has a 50 day moving average price of $205.35 and a 200 day moving average price of $193.52. Darden Restaurants, Inc. has a 52-week low of $169.00 and a 52-week high of $228.27.
Darden Restaurants (NYSE:DRI - Get Free Report) last announced its quarterly earnings results on Thursday, March 19th. The restaurant operator reported $2.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.94 by $0.01. The firm had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.33 billion. Darden Restaurants had a return on equity of 53.54% and a net margin of 8.66%.Darden Restaurants's quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.80 earnings per share. Sell-side analysts expect that Darden Restaurants, Inc. will post 9.52 earnings per share for the current year.
Darden Restaurants Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 10th will be issued a $1.50 dividend. The ex-dividend date is Friday, April 10th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 3.1%. Darden Restaurants's payout ratio is presently 63.49%.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on DRI shares. Bank of America boosted their price target on Darden Restaurants from $261.00 to $262.00 and gave the company a "buy" rating in a report on Monday, March 16th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Darden Restaurants from $222.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, March 20th. Raymond James Financial reissued a "market perform" rating on shares of Darden Restaurants in a research note on Wednesday, January 21st. TD Cowen reissued a "hold" rating on shares of Darden Restaurants in a research note on Friday, December 19th. Finally, Robert W. Baird boosted their price objective on shares of Darden Restaurants from $208.00 to $215.00 and gave the stock a "neutral" rating in a research note on Friday, March 20th. Eighteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $226.24.
Check Out Our Latest Analysis on Darden Restaurants
Hedge Funds Weigh In On Darden Restaurants
A number of large investors have recently bought and sold shares of the business. J. Derek Lewis & Associates Inc. bought a new position in Darden Restaurants in the fourth quarter worth approximately $341,000. Hsbc Holdings PLC increased its position in shares of Darden Restaurants by 3.4% during the fourth quarter. Hsbc Holdings PLC now owns 424,673 shares of the restaurant operator's stock worth $78,274,000 after purchasing an additional 14,156 shares in the last quarter. World Investment Advisors increased its position in shares of Darden Restaurants by 5.6% during the fourth quarter. World Investment Advisors now owns 45,020 shares of the restaurant operator's stock worth $8,285,000 after purchasing an additional 2,385 shares in the last quarter. Winthrop Partners WNY LLC acquired a new position in shares of Darden Restaurants during the fourth quarter worth $1,795,000. Finally, Union Savings Bank acquired a new position in shares of Darden Restaurants during the fourth quarter worth $28,000. Institutional investors own 93.64% of the company's stock.
Darden Restaurants Company Profile
(
Get Free Report)
Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.
Darden's restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand's positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.
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