Darden Restaurants, Inc. (NYSE:DRI) COO Ricardo Cardenas Sells 1,200 Shares of Stock

Darden Restaurants, Inc. (NYSE:DRI) COO Ricardo Cardenas sold 1,200 shares of the firm’s stock in a transaction dated Tuesday, April 6th. The stock was sold at an average price of $147.04, for a total value of $176,448.00. Following the transaction, the chief operating officer now directly owns 48,169 shares in the company, valued at approximately $7,082,769.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ricardo Cardenas also recently made the following trade(s):

  • On Monday, March 29th, Ricardo Cardenas sold 19,416 shares of Darden Restaurants stock. The stock was sold at an average price of $144.00, for a total value of $2,795,904.00.

DRI opened at $145.75 on Thursday. The stock has a market cap of $19.00 billion, a P/E ratio of -151.82, a P/E/G ratio of 2.31 and a beta of 1.48. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.72 and a quick ratio of 0.59. The stock’s 50 day simple moving average is $140.09 and its 200 day simple moving average is $122.37. Darden Restaurants, Inc. has a 1-year low of $56.51 and a 1-year high of $149.73.

Darden Restaurants (NYSE:DRI) last released its quarterly earnings results on Wednesday, March 24th. The restaurant operator reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.29. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.60 billion. Darden Restaurants had a positive return on equity of 10.47% and a negative net margin of 1.70%. The company’s revenue was down 26.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.90 EPS. Research analysts expect that Darden Restaurants, Inc. will post 3.3 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 3rd. Investors of record on Friday, April 9th will be issued a $0.88 dividend. The ex-dividend date is Thursday, April 8th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.42%. This is a boost from Darden Restaurants’s previous quarterly dividend of $0.37. Darden Restaurants’s dividend payout ratio is currently 47.28%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Beacon Pointe Advisors LLC lifted its stake in Darden Restaurants by 4.1% in the 4th quarter. Beacon Pointe Advisors LLC now owns 2,152 shares of the restaurant operator’s stock valued at $258,000 after buying an additional 84 shares in the last quarter. Corient Capital Partners LLC lifted its stake in Darden Restaurants by 4.2% in the 4th quarter. Corient Capital Partners LLC now owns 2,258 shares of the restaurant operator’s stock valued at $269,000 after buying an additional 90 shares in the last quarter. Fulton Bank N.A. lifted its stake in Darden Restaurants by 0.5% in the 4th quarter. Fulton Bank N.A. now owns 21,313 shares of the restaurant operator’s stock valued at $2,539,000 after buying an additional 98 shares in the last quarter. Liberty One Investment Management LLC lifted its stake in Darden Restaurants by 16.1% in the 4th quarter. Liberty One Investment Management LLC now owns 707 shares of the restaurant operator’s stock valued at $84,000 after buying an additional 98 shares in the last quarter. Finally, Private Advisory Group LLC lifted its stake in Darden Restaurants by 2.1% in the 4th quarter. Private Advisory Group LLC now owns 4,738 shares of the restaurant operator’s stock valued at $564,000 after buying an additional 98 shares in the last quarter. Institutional investors and hedge funds own 89.35% of the company’s stock.

Several equities analysts have issued reports on DRI shares. BMO Capital Markets raised their price objective on Darden Restaurants from $115.00 to $140.00 in a report on Friday, March 26th. Morgan Stanley raised their price objective on Darden Restaurants from $144.00 to $156.00 and gave the stock an “overweight” rating in a report on Monday, March 29th. Credit Suisse Group raised their price objective on Darden Restaurants from $141.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, April 1st. Wedbush raised their price objective on Darden Restaurants from $126.00 to $146.00 and gave the stock a “neutral” rating in a report on Thursday, April 1st. Finally, Piper Sandler raised their price target on Darden Restaurants from $123.00 to $135.00 and gave the stock an “overweight” rating in a report on Wednesday, January 27th. Ten investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $138.06.

About Darden Restaurants

Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 31, 2020, it owned and operated approximately 1,804 restaurants, which included 868 under the Olive Garden, 522 under the LongHorn Steakhouse, 165 under the Cheddar's Scratch Kitchen, 81 under the Yard House, 60 under The Capital Grille, 44 under the Seasons 52, 41 under the Bahama Breeze, and 23 under the Eddie V's Prime Seafood brands.

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