Darden Restaurants, Inc. (NYSE:DRI) Insider Laura B. Williamson Sells 2,289 Shares

Darden Restaurants, Inc. (NYSE:DRI) insider Laura B. Williamson sold 2,289 shares of the company’s stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $207.26, for a total value of $474,418.14. Following the transaction, the insider now directly owns 10,056 shares of the company’s stock, valued at approximately $2,084,206.56. This trade represents a 18.54 % 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 Down 1.5 %

NYSE:DRI opened at $204.89 on Friday. The company’s 50-day simple moving average is $194.62 and its 200-day simple moving average is $178.31. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.23 and a current ratio of 0.37. Darden Restaurants, Inc. has a fifty-two week low of $135.87 and a fifty-two week high of $211.00. The stock has a market capitalization of $24.00 billion, a P/E ratio of 23.47, a P/E/G ratio of 2.15 and a beta of 1.27.

Darden Restaurants (NYSE:DRI) last posted its earnings results on Thursday, March 20th. The restaurant operator reported $2.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.80. Darden Restaurants had a net margin of 9.01% and a return on equity of 50.12%. The company had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.22 billion. During the same period in the previous year, the firm posted $2.60 earnings per share. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. On average, equities analysts anticipate that Darden Restaurants, Inc. will post 9.52 earnings per share for the current fiscal year.

Darden Restaurants Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Thursday, April 10th will be given a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Thursday, April 10th. Darden Restaurants’s dividend payout ratio (DPR) is 63.13%.

Analyst Ratings Changes

DRI has been the subject of several recent research reports. KeyCorp boosted their price target on Darden Restaurants from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. Wells Fargo & Company upped their target price on Darden Restaurants from $180.00 to $200.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. Sanford C. Bernstein upgraded shares of Darden Restaurants from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $180.00 to $215.00 in a report on Wednesday, January 22nd. Raymond James lifted their price target on Darden Restaurants from $200.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Finally, Wedbush lifted their price target on Darden Restaurants from $220.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, March 21st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $202.08.

Institutional Investors Weigh In On Darden Restaurants

Hedge funds have recently modified their holdings of the company. Kestra Investment Management LLC purchased a new position in shares of Darden Restaurants during the fourth quarter worth $25,000. Compass Wealth Management LLC acquired a new position in Darden Restaurants in the fourth quarter valued at $28,000. TCTC Holdings LLC purchased a new position in shares of Darden Restaurants during the fourth quarter worth approximately $28,000. MCF Advisors LLC increased its position in Darden Restaurants by 50.9% in the 4th quarter. MCF Advisors LLC now owns 175 shares of the restaurant operator’s stock valued at $33,000 after acquiring an additional 59 shares during the period. Finally, HHM Wealth Advisors LLC raised its position in Darden Restaurants by 103.2% during the 4th quarter. HHM Wealth Advisors LLC now owns 254 shares of the restaurant operator’s stock worth $47,000 after buying an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 93.64% of the company’s stock.

About Darden Restaurants

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.