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 stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $62.47, for a total value of $548,486.60. Following the sale, the senior vice president now directly owns 15,989 shares of the company’s stock, valued at $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% on Wednesday, hitting $62.80. The stock had a trading volume of 1,386,264 shares. Darden Restaurants Inc. has a 52-week low of $53.38 and a 52-week high of $68.68. The company’s 50 day moving average price is $61.94 and its 200 day moving average price is $63.68. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 20.28 and a beta of 0.41.
Darden Restaurants (NYSE:DRI) last issued its quarterly earnings results on Tuesday, October 4th. The restaurant operator reported $0.88 earnings per share (EPS) for the quarter, topping 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 business earned $1.71 billion during the quarter. During the same quarter in the previous year, the company posted $0.68 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts expect that Darden Restaurants Inc. will post $3.92 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be paid a $0.56 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $2.24 dividend on an annualized basis and a yield of 3.57%. Darden Restaurants’s payout ratio is presently 72.03%.
Large investors have recently modified their holdings of the company. CENTRAL TRUST Co raised its stake in shares of Darden Restaurants by 16.5% in the second quarter. CENTRAL TRUST Co now owns 1,799 shares of the restaurant operator’s stock worth $114,000 after buying an additional 255 shares during the last quarter. Krilogy Financial LLC raised its stake in shares of Darden Restaurants by 1.6% in the second quarter. Krilogy Financial LLC now owns 2,133 shares of the restaurant operator’s stock worth $135,000 after buying an additional 33 shares during the last quarter. Pacer Advisors Inc. raised its stake in shares of Darden Restaurants by 9.0% in the second quarter. Pacer Advisors Inc. now owns 2,369 shares of the restaurant operator’s stock worth $150,000 after buying an additional 195 shares during the last quarter. M&R Capital Management Inc. acquired a new stake in shares of Darden Restaurants during the second quarter worth about $158,000. Finally, Citizens Financial Group Inc RI raised its stake in shares of Darden Restaurants by 320.0% in the first quarter. Citizens Financial Group Inc RI now owns 2,520 shares of the restaurant operator’s stock worth $167,000 after buying an additional 1,920 shares during the last quarter. Institutional investors and hedge funds own 94.57% of the company’s stock.
A number of analysts recently commented on the company. RBC Capital Markets reaffirmed a “sector perform” rating and set a $70.00 price target on shares of Darden Restaurants in a research report on Wednesday. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $70.00 price target on shares of Darden Restaurants in a research report on Friday, October 7th. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a research report on Thursday, October 6th. SunTrust Banks Inc. decreased their price target on Darden Restaurants from $70.00 to $67.00 and set a “neutral” rating for the company in a research report on Wednesday, October 5th. Finally, Bank of America Corp. reissued a “sell” rating on shares of Darden Restaurants in a research report on Wednesday, October 5th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. Darden Restaurants presently has a consensus rating of “Hold” and an average target price of $69.89.
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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