Insider Selling: David Pickens Sells 31,500 Shares of Darden Restaurants Stock (DRI)
Darden Restaurants (NYSE:DRI) Insider David Pickens sold 31,500 shares of the stock on the open market in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $49.66, for a total value of $1,564,290.00. Following the completion of the transaction, the insider now directly owns 62,151 shares of the company’s stock, valued at approximately $3,086,419. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
A number of analysts have recently weighed in on DRI shares. Analysts at Zacks reiterated a “neutral” rating on shares of Darden Restaurants in a research note to investors on Thursday, October 3rd. They now have a $49.00 price target on the stock. Separately, analysts at BMO Capital Markets cut their price target on shares of Darden Restaurants from $55.00 to $50.00 in a research note to investors on Tuesday, September 24th. They now have a “market perform” rating on the stock. Two research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and seven have given a buy rating to the company’s stock. Darden Restaurants presently has a consensus rating of “Hold” and an average target price of $50.37.
Darden Restaurants (NYSE:DRI) opened at 50.96 on Tuesday. Darden Restaurants has a one year low of $44.11 and a one year high of $55.90. The stock has a 50-day moving average of $47.45 and a 200-day moving average of $49.98. The company has a market cap of $6.654 billion and a price-to-earnings ratio of 18.10.
Darden Restaurants (NYSE:DRI) last announced its earnings results on Friday, September 20th. The company reported $0.53 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.70 by $0.17. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.20 billion. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. On average, analysts predict that Darden Restaurants will post $2.90 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Tuesday, October 8th.
Darden Restaurants, Inc (NYSE:DRI) is a company owned and full-service restaurant company.
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