Darden Restaurants Inc. (DRI) SVP Danielle L. Kirgan Sells 8,780 Shares
Darden Restaurants Inc. (NYSE:DRI) SVP Danielle L. Kirgan sold 8,780 shares of the firm’s stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $62.47, for a total value of $548,486.60. Following the transaction, the senior vice president now owns 15,989 shares in the company, valued at approximately $998,832.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Darden Restaurants Inc. (NYSE:DRI) traded up 0.64% during mid-day trading on Wednesday, reaching $62.80. The company had a trading volume of 1,386,264 shares. The company has a market capitalization of $7.73 billion, a price-to-earnings ratio of 20.28 and a beta of 0.41. Darden Restaurants Inc. has a 12-month low of $53.38 and a 12-month high of $68.68. The stock has a 50-day moving average of $61.94 and a 200 day moving average of $63.68.
Darden Restaurants (NYSE:DRI) last posted its earnings results on Tuesday, October 4th. The restaurant operator reported $0.88 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.06. Darden Restaurants had a return on equity of 24.97% and a net margin of 5.73%. The company had revenue of $1.71 billion for the quarter. During the same quarter in the prior year, the business earned $0.68 EPS. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts expect that Darden Restaurants Inc. will post $3.92 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be issued a $0.56 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 3.57%. Darden Restaurants’s dividend payout ratio is presently 72.03%.
A number of equities analysts have issued reports on the company. Jefferies Group restated a “hold” rating and set a $64.00 target price (down previously from $66.00) on shares of Darden Restaurants in a report on Saturday, July 2nd. Zacks Investment Research cut Darden Restaurants from a “hold” rating to a “sell” rating in a report on Tuesday, July 26th. BMO Capital Markets reiterated a “hold” rating and set a $64.00 price objective on shares of Darden Restaurants in a report on Thursday, September 1st. Piper Jaffray Cos. reiterated an “overweight” rating and set a $76.00 price objective on shares of Darden Restaurants in a report on Thursday, August 25th. Finally, BTIG Research reiterated a “buy” rating and set a $75.00 price objective on shares of Darden Restaurants in a report on Friday, July 1st. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $69.89.
Several hedge funds and other institutional investors have recently bought and sold shares of DRI. Vanguard Group Inc. increased its stake in shares of Darden Restaurants by 5.3% in the second quarter. Vanguard Group Inc. now owns 12,676,075 shares of the restaurant operator’s stock worth $802,903,000 after buying an additional 640,845 shares during the last quarter. State Street Corp increased its stake in shares of Darden Restaurants by 0.6% in the first quarter. State Street Corp now owns 5,228,348 shares of the restaurant operator’s stock worth $346,649,000 after buying an additional 32,258 shares during the last quarter. BlackRock Fund Advisors increased its stake in shares of Darden Restaurants by 12.2% in the second quarter. BlackRock Fund Advisors now owns 4,646,824 shares of the restaurant operator’s stock worth $294,330,000 after buying an additional 505,377 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Darden Restaurants by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 3,902,816 shares of the restaurant operator’s stock worth $247,202,000 after buying an additional 308,834 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Darden Restaurants by 16.3% in the second quarter. Ameriprise Financial Inc. now owns 3,893,719 shares of the restaurant operator’s stock worth $246,621,000 after buying an additional 544,413 shares during the last quarter. Institutional investors own 94.57% of the company’s stock.
Darden Restaurants Company Profile
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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