Darden Restaurants, Inc. (NYSE:DRI) insider Eugene I. Lee, Jr. sold 60,688 shares of the business’s stock in a transaction dated Wednesday, September 26th. The shares were sold at an average price of $112.63, for a total value of $6,835,289.44. Following the completion of the transaction, the insider now directly owns 147,561 shares of the company’s stock, valued at $16,619,795.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of DRI stock traded down $1.25 on Thursday, hitting $111.29. 54,702 shares of the stock were exchanged, compared to its average volume of 1,284,746. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.41 and a quick ratio of 0.26. The stock has a market capitalization of $13.97 billion, a P/E ratio of 23.49, a P/E/G ratio of 2.15 and a beta of 0.15. Darden Restaurants, Inc. has a fifty-two week low of $77.93 and a fifty-two week high of $124.00.
Darden Restaurants (NYSE:DRI) last posted its quarterly earnings data on Thursday, September 20th. The restaurant operator reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.10. The company had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Darden Restaurants had a return on equity of 30.32% and a net margin of 7.84%. Darden Restaurants’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.99 earnings per share. equities analysts expect that Darden Restaurants, Inc. will post 5.63 EPS for the current year.
Several hedge funds have recently bought and sold shares of DRI. Neuberger Berman Group LLC boosted its position in shares of Darden Restaurants by 3.7% during the first quarter. Neuberger Berman Group LLC now owns 33,457 shares of the restaurant operator’s stock worth $2,852,000 after buying an additional 1,207 shares during the period. Federated Investors Inc. PA boosted its position in Darden Restaurants by 55.2% during the first quarter. Federated Investors Inc. PA now owns 4,520 shares of the restaurant operator’s stock valued at $385,000 after purchasing an additional 1,607 shares during the last quarter. Toronto Dominion Bank boosted its position in Darden Restaurants by 24.8% during the first quarter. Toronto Dominion Bank now owns 66,601 shares of the restaurant operator’s stock valued at $5,677,000 after purchasing an additional 13,229 shares during the last quarter. IBM Retirement Fund acquired a new position in Darden Restaurants during the first quarter valued at approximately $234,000. Finally, Norinchukin Bank The boosted its position in Darden Restaurants by 16.7% during the first quarter. Norinchukin Bank The now owns 14,469 shares of the restaurant operator’s stock valued at $1,233,000 after purchasing an additional 2,072 shares during the last quarter. 89.45% of the stock is owned by institutional investors.
A number of research analysts have issued reports on DRI shares. Argus boosted their target price on Darden Restaurants from $108.00 to $125.00 in a research note on Monday, June 25th. Barclays boosted their target price on Darden Restaurants from $117.00 to $121.00 and gave the company a “$112.15” rating in a research note on Wednesday, July 18th. ValuEngine raised Darden Restaurants from a “hold” rating to a “buy” rating in a research note on Friday, June 22nd. SunTrust Banks boosted their target price on Darden Restaurants to $117.00 and gave the company a “buy” rating in a research note on Friday, June 22nd. Finally, Mizuho boosted their target price on Darden Restaurants to $115.00 and gave the company a “buy” rating in a research note on Friday, June 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $120.09.
About Darden Restaurants
Darden Restaurants, Inc, through its subsidiaries, owns and operates full-service restaurants in the United States and Canada. As of May 27, 2018, it owned and operated approximately 1,746 restaurants under the Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Bahama Breeze, Seasons 52, and Eddie V's brands.
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