Insider Selling: Darden Restaurants Director Sells 3,000 Shares of Stock (DRI)
Darden Restaurants (NYSE:DRI) Director Maria Sastre sold 3,000 shares of Darden Restaurants stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $51.06, for a total value of $153,180.00. Following the completion of the transaction, the director now directly owns 19,650 shares of the company’s stock, valued at approximately $1,003,329. The sale was disclosed in a legal filing with the SEC, which is available at 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 equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $50.37.
Shares of Darden Restaurants (NYSE:DRI) traded up 2.25% on Thursday, hitting $51.80. The stock had a trading volume of 5,510,988 shares. Darden Restaurants has a one year low of $44.11 and a one year high of $55.30. The stock has a 50-day moving average of $47.68 and a 200-day moving average of $49.99. The company has a market cap of $6.763 billion and a P/E ratio of 18.00.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings data on Friday, September 20th. The company reported $0.53 EPS for the quarter, missing the Thomson Reuters 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. Analysts expect that Darden Restaurants will post $2.90 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Tuesday, October 8th.
Darden Restaurants, Inc (NYSE:DRI) is a company owned and full-service restaurant company.