Darden Restaurants, Inc. (NYSE:DRI) Short Interest Update

Darden Restaurants, Inc. (NYSE:DRI - Get Free Report) was the target of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 5,940,000 shares, a growth of 20.5% from the March 31st total of 4,930,000 shares. Approximately 5.1% of the company's stock are short sold. Based on an average daily trading volume, of 1,270,000 shares, the short-interest ratio is presently 4.7 days.

Darden Restaurants Stock Performance

DRI traded up $3.98 during trading on Friday, hitting $203.84. The company's stock had a trading volume of 820,206 shares, compared to its average volume of 1,273,784. The business's 50 day simple moving average is $197.25 and its 200-day simple moving average is $184.92. The firm has a market cap of $23.85 billion, a PE ratio of 23.35, a P/E/G ratio of 2.15 and a beta of 0.93. Darden Restaurants has a one year low of $135.87 and a one year high of $211.00. The company has a quick ratio of 0.23, a current ratio of 0.37 and a debt-to-equity ratio of 1.02.

Darden Restaurants (NYSE:DRI - Get Free Report) last announced its earnings results on Thursday, March 20th. The restaurant operator reported $2.80 EPS for the quarter, hitting analysts' consensus estimates of $2.80. Darden Restaurants had a return on equity of 50.12% and a net margin of 9.01%. The company had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.22 billion. During the same period last year, the firm earned $2.60 EPS. Darden Restaurants's revenue for the quarter was up 6.2% compared to the same quarter last year. As a group, sell-side analysts predict that Darden Restaurants will post 9.52 EPS for the current fiscal year.

Darden Restaurants Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 10th were issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Thursday, April 10th. Darden Restaurants's dividend payout ratio is currently 63.13%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Citigroup upped their price target on Darden Restaurants from $223.00 to $229.00 and gave the stock a "buy" rating in a research note on Friday, March 21st. BMO Capital Markets raised their price target on Darden Restaurants from $175.00 to $190.00 and gave the company a "market perform" rating in a report on Friday, March 21st. KeyCorp upped their price target on shares of Darden Restaurants from $200.00 to $220.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Oppenheimer raised their price objective on shares of Darden Restaurants from $218.00 to $230.00 and gave the company an "outperform" rating in a research note on Friday, March 21st. Finally, TD Securities upped their target price on shares of Darden Restaurants from $180.00 to $190.00 and gave the stock a "hold" rating in a research note on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $201.38.

Insiders Place Their Bets

In related news, insider Laura B. Williamson sold 2,289 shares of Darden Restaurants stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $207.26, for a total transaction of $474,418.14. Following the completion of the transaction, the insider now directly owns 10,056 shares of the company's stock, valued at $2,084,206.56. This trade represents a 18.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP John W. Madonna sold 1,806 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $207.88, for a total transaction of $375,431.28. Following the sale, the senior vice president now directly owns 7,192 shares in the company, valued at $1,495,072.96. The trade was a 20.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,613 shares of company stock worth $5,121,492 over the last three months. Company insiders own 0.58% of the company's stock.

Institutional Trading of Darden Restaurants

A number of hedge funds and other institutional investors have recently modified their holdings of DRI. Retirement Planning Co of New England Inc. purchased a new stake in Darden Restaurants in the 1st quarter worth $2,664,000. Kingsview Wealth Management LLC purchased a new stake in shares of Darden Restaurants during the first quarter worth about $252,000. Graypoint LLC bought a new stake in Darden Restaurants during the 1st quarter valued at approximately $243,000. Burns Matteson Capital Management LLC lifted its holdings in Darden Restaurants by 6.3% in the 1st quarter. Burns Matteson Capital Management LLC now owns 2,293 shares of the restaurant operator's stock worth $476,000 after purchasing an additional 135 shares in the last quarter. Finally, BIP Alliance LLC bought a new position in Darden Restaurants in the 1st quarter worth approximately $201,000. 93.64% of the stock is owned by hedge funds and other institutional investors.

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.

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