Ricardo Cardenas Sells 10,783 Shares of Darden Restaurants, Inc. (DRI) Stock

Darden Restaurants, Inc. (NYSE:DRI) CFO Ricardo Cardenas sold 10,783 shares of Darden Restaurants stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $97.17, for a total value of $1,047,784.11. Following the sale, the chief financial officer now owns 20,046 shares in the company, valued at approximately $1,947,869.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Darden Restaurants, Inc. (NYSE DRI) opened at $98.02 on Friday. Darden Restaurants, Inc. has a 52-week low of $71.43 and a 52-week high of $100.11. The stock has a market capitalization of $12,108.80, a PE ratio of 23.23, a P/E/G ratio of 1.90 and a beta of 0.20. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.34 and a quick ratio of 0.20.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Tuesday, January 9th. Darden Restaurants’s dividend payout ratio is presently 64.62%.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bruderman Asset Management LLC boosted its holdings in Darden Restaurants by 0.4% in the 2nd quarter. Bruderman Asset Management LLC now owns 2,532 shares of the restaurant operator’s stock valued at $229,000 after purchasing an additional 10 shares in the last quarter. D.A. Davidson & CO. boosted its holdings in Darden Restaurants by 1.7% in the 2nd quarter. D.A. Davidson & CO. now owns 1,271 shares of the restaurant operator’s stock valued at $114,000 after purchasing an additional 21 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Darden Restaurants by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,238 shares of the restaurant operator’s stock valued at $835,000 after purchasing an additional 28 shares in the last quarter. Argent Capital Management LLC boosted its holdings in Darden Restaurants by 2.0% in the 2nd quarter. Argent Capital Management LLC now owns 5,125 shares of the restaurant operator’s stock valued at $464,000 after purchasing an additional 100 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Darden Restaurants by 1.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,345 shares of the restaurant operator’s stock valued at $573,000 after purchasing an additional 114 shares in the last quarter. 91.45% of the stock is currently owned by institutional investors.

DRI has been the topic of a number of research analyst reports. Robert W. Baird reiterated a “hold” rating and set a $94.00 target price on shares of Darden Restaurants in a research report on Tuesday, September 19th. Oppenheimer reiterated a “buy” rating and set a $100.00 target price on shares of Darden Restaurants in a research report on Wednesday, September 20th. Zacks Investment Research upgraded Darden Restaurants from a “hold” rating to a “buy” rating and set a $94.00 target price on the stock in a research report on Friday, September 22nd. Maxim Group reiterated a “hold” rating and set a $90.00 target price on shares of Darden Restaurants in a research report on Thursday, September 21st. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price target (down previously from $96.00) on shares of Darden Restaurants in a research report on Friday, September 22nd. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $95.32.

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About Darden Restaurants

Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).

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