Darden Restaurants, Inc. (NYSE:DRI) CFO Ricardo Cardenas sold 10,783 shares of Darden Restaurants stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $97.17, for a total transaction of $1,047,784.11. Following the transaction, the chief financial officer now directly owns 20,046 shares of the company’s stock, valued at $1,947,869.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Darden Restaurants, Inc. (DRI) traded down $1.82 during mid-day trading on Monday, hitting $94.22. The stock had a trading volume of 1,678,473 shares, compared to its average volume of 1,373,041. The stock has a market capitalization of $11,820.00, a price-to-earnings ratio of 23.73, a price-to-earnings-growth ratio of 1.86 and a beta of 0.16. Darden Restaurants, Inc. has a 1-year low of $71.68 and a 1-year high of $100.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.34 and a quick ratio of 0.20.
Darden Restaurants (NYSE:DRI) last issued its earnings results on Tuesday, December 19th. The restaurant operator reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.03. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.85 billion. Darden Restaurants had a return on equity of 26.24% and a net margin of 6.46%. equities analysts expect that Darden Restaurants, Inc. will post 4.76 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were given a $0.63 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $2.52 dividend on an annualized basis and a yield of 2.67%. Darden Restaurants’s dividend payout ratio is currently 63.48%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Calton & Associates Inc. purchased a new stake in Darden Restaurants in the fourth quarter valued at approximately $317,000. Mork Capital Management LLC acquired a new position in Darden Restaurants in the fourth quarter valued at approximately $989,000. American Century Companies Inc. lifted its holdings in Darden Restaurants by 29.2% in the fourth quarter. American Century Companies Inc. now owns 1,689,176 shares of the restaurant operator’s stock valued at $162,195,000 after acquiring an additional 381,677 shares during the period. Public Employees Retirement Association of Colorado lifted its holdings in Darden Restaurants by 3.3% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 24,797 shares of the restaurant operator’s stock valued at $2,381,000 after acquiring an additional 793 shares during the period. Finally, Checchi Capital Advisers LLC acquired a new position in Darden Restaurants in the fourth quarter valued at approximately $232,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.
DRI has been the subject of several research analyst reports. Longbow Research initiated coverage on Darden Restaurants in a research report on Friday, October 13th. They set a “neutral” rating for the company. Argus downgraded Darden Restaurants from a “buy” rating to a “hold” rating and set a $88.00 target price for the company. in a research report on Tuesday, October 17th. Zacks Investment Research downgraded Darden Restaurants from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. BMO Capital Markets set a $80.00 target price on Darden Restaurants and gave the stock a “hold” rating in a research report on Thursday, October 19th. Finally, SunTrust Banks set a $94.00 target price on Darden Restaurants and gave the stock a “hold” rating in a research report on Monday, December 11th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $96.22.
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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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