Susan M. Connelly Sells 9,264 Shares of Darden Restaurants, Inc. (NYSE:DRI) Stock

Darden Restaurants, Inc. (NYSE:DRI) SVP Susan M. Connelly sold 9,264 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $184.68, for a total transaction of $1,710,875.52. Following the transaction, the senior vice president now owns 4,567 shares in the company, valued at $843,433.56. This trade represents a 66.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Darden Restaurants Stock Performance

Shares of Darden Restaurants stock opened at $179.75 on Friday. The company has a market capitalization of $21.06 billion, a PE ratio of 20.73, a P/E/G ratio of 1.90 and a beta of 1.31. The company has a 50-day simple moving average of $173.70 and a two-hundred day simple moving average of $160.74. Darden Restaurants, Inc. has a one year low of $135.87 and a one year high of $189.18. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.22 and a current ratio of 0.35.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, December 19th. The restaurant operator reported $2.03 EPS for the quarter, hitting the consensus estimate of $2.03. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.87 billion. Darden Restaurants had a net margin of 9.11% and a return on equity of 49.46%. Darden Restaurants’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.84 EPS. Research analysts expect that Darden Restaurants, Inc. will post 9.47 EPS for the current fiscal year.

Darden Restaurants Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, January 10th. This represents a $5.60 annualized dividend and a yield of 3.12%. Darden Restaurants’s dividend payout ratio (DPR) is 64.15%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DRI shares. KeyCorp upped their price target on shares of Darden Restaurants from $194.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Stephens upped their target price on Darden Restaurants from $164.00 to $175.00 and gave the company an “equal weight” rating in a research note on Friday, December 20th. Piper Sandler raised their price target on Darden Restaurants from $159.00 to $177.00 and gave the stock a “neutral” rating in a research note on Friday, September 20th. Wells Fargo & Company upped their price objective on Darden Restaurants from $160.00 to $165.00 and gave the company an “equal weight” rating in a research report on Friday, September 20th. Finally, TD Cowen reiterated a “hold” rating and set a $150.00 target price on shares of Darden Restaurants in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $189.12.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. purchased a new stake in shares of Darden Restaurants during the second quarter worth about $27,000. Wolff Wiese Magana LLC grew its position in Darden Restaurants by 1,690.9% during the 3rd quarter. Wolff Wiese Magana LLC now owns 197 shares of the restaurant operator’s stock worth $32,000 after purchasing an additional 186 shares during the last quarter. Kimelman & Baird LLC acquired a new position in Darden Restaurants during the 2nd quarter valued at approximately $30,000. Bangor Savings Bank raised its holdings in shares of Darden Restaurants by 395.0% in the third quarter. Bangor Savings Bank now owns 297 shares of the restaurant operator’s stock worth $49,000 after buying an additional 237 shares during the last quarter. Finally, Fortitude Family Office LLC lifted its stake in shares of Darden Restaurants by 78.3% during the fourth quarter. Fortitude Family Office LLC now owns 312 shares of the restaurant operator’s stock worth $58,000 after buying an additional 137 shares during the period. 93.64% of the stock is owned by institutional investors and hedge funds.

Darden Restaurants Company Profile

Darden Restaurants, Inc, together with its subsidiaries, owns and operates full-service restaurants in the United States and Canada. It operates under Olive Garden, LongHorn Steakhouse, Cheddar’s Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze, Eddie V’s Prime Seafood, and Capital Burger brand names.