Darden Restaurants (NYSE:DRI) SVP Susan Connelly Sells 2,226 Shares

Key Points

• Darden SVP Susan Connelly sold 2,226 shares at an average price of $208.17, totaling approximately $463,386. Following the transaction, her direct ownership fell 34.83% to 4,165 shares.
• Darden’s latest quarterly results modestly exceeded expectations, with EPS of $3.66 versus the $3.63 consensus, while revenue rose 13.7% year over year to $3.72 billion.
• The company increased its quarterly dividend from $1.50 to $1.62 per share, representing an annualized dividend of $6.48 and a 3.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $228.88.

Darden Restaurants, Inc. (NYSE:DRI - Get Free Report) SVP Susan Connelly sold 2,226 shares of the firm's stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $208.17, for a total value of $463,386.42. Following the completion of the sale, the senior vice president directly owned 4,165 shares of the company's stock, valued at approximately $867,028.05. The trade was a 34.83% decrease in their ownership of the stock. 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 NYSE DRI traded down $5.14 during midday trading on Thursday, hitting $207.09. 1,636,465 shares of the company's stock were exchanged, compared to its average volume of 1,402,352. The company has a quick ratio of 0.21, a current ratio of 0.31 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $23.63 billion, a PE ratio of 19.95, a price-to-earnings-growth ratio of 2.06 and a beta of 0.60. Darden Restaurants, Inc. has a 12 month low of $169.00 and a 12 month high of $220.65. The company's 50 day moving average price is $203.53 and its 200 day moving average price is $203.15.

Darden Restaurants (NYSE:DRI - Get Free Report) last posted its quarterly earnings results on Thursday, June 25th. The restaurant operator reported $3.66 earnings per share for the quarter, beating analysts' consensus estimates of $3.63 by $0.03. Darden Restaurants had a return on equity of 57.44% and a net margin of 9.13%.The business had revenue of $3.72 billion for the quarter, compared to analysts' expectations of $3.73 billion. During the same quarter in the prior year, the business earned $2.98 EPS. The firm's revenue for the quarter was up 13.7% on a year-over-year basis. Darden Restaurants has set its FY 2027 guidance at 11.100-11.350 EPS. As a group, analysts predict that Darden Restaurants, Inc. will post 11.28 earnings per share for the current fiscal year.

Darden Restaurants Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Friday, July 10th will be paid a dividend of $1.62 per share. The ex-dividend date is Friday, July 10th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 3.1%. This is a boost from Darden Restaurants's previous quarterly dividend of $1.50. Darden Restaurants's dividend payout ratio is 62.43%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DRI. Piper Sandler upped their price target on shares of Darden Restaurants from $208.00 to $212.00 and gave the company a "neutral" rating in a research note on Friday, June 26th. Deutsche Bank Aktiengesellschaft boosted their price objective on Darden Restaurants from $230.00 to $236.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Bank of America upped their target price on Darden Restaurants from $272.00 to $276.00 and gave the company a "buy" rating in a research report on Friday, June 5th. Robert W. Baird increased their target price on Darden Restaurants from $210.00 to $220.00 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Finally, UBS Group boosted their price target on Darden Restaurants from $230.00 to $240.00 and gave the company a "buy" rating in a research note on Friday, June 26th. Seventeen research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company's stock. According to MarketBeat.com, Darden Restaurants currently has an average rating of "Moderate Buy" and an average target price of $228.88.

Institutional Investors Weigh In On Darden Restaurants

A number of hedge funds and other institutional investors have recently made changes to their positions in DRI. Torren Management LLC acquired a new stake in Darden Restaurants during the fourth quarter worth approximately $26,000. Union Savings Bank bought a new stake in shares of Darden Restaurants during the 4th quarter valued at $28,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in Darden Restaurants by 926.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 154 shares of the restaurant operator's stock worth $28,000 after buying an additional 139 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new stake in shares of Darden Restaurants during the 4th quarter worth approximately $29,000. Finally, DV Equities LLC acquired a new stake in shares of Darden Restaurants during the 4th quarter worth approximately $30,000. 93.64% of the stock is currently owned by institutional investors and hedge funds.

Darden Restaurants Company Profile

Darden Restaurants, Inc is a multi-brand, full-service restaurant company headquartered in Orlando, Florida. The company owns and operates a portfolio of casual and fine-dining concepts that together serve millions of guests through company-owned and franchised locations. Its well-known brands include Olive Garden and LongHorn Steakhouse, alongside other dining concepts that span Italian, American, steakhouse and upscale casual formats.

Darden's restaurants provide a range of guest-facing services including dine-in, takeout, delivery and catering, and feature menus tailored to each brand's positioning—Italian-American fare at Olive Garden, steaks and grilled items at LongHorn, and more premium steakhouse and chef-driven offerings at its upscale concepts.

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