Darden Restaurants, Inc. (NYSE:DRI) SVP Douglas J. Milanes sold 4,300 shares of the stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $97.05, for a total value of $417,315.00. Following the completion of the transaction, the senior vice president now directly owns 7,513 shares of the company’s stock, valued at approximately $729,136.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Darden Restaurants, Inc. (NYSE DRI) traded up $0.81 during trading hours on Friday, reaching $97.60. The company’s stock had a trading volume of 1,277,500 shares, compared to its average volume of 1,685,137. The company has a current ratio of 0.34, a quick ratio of 0.20 and a debt-to-equity ratio of 0.47. Darden Restaurants, Inc. has a 52 week low of $71.43 and a 52 week high of $100.11. The company has a market cap of $12,160.00, a P/E ratio of 24.58, a PEG ratio of 2.11 and a beta of 0.20.
The company also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Tuesday, January 9th. Darden Restaurants’s dividend payout ratio is presently 63.48%.
A number of research analysts recently commented on DRI shares. Robert W. Baird reissued a “hold” rating and issued a $94.00 price target on shares of Darden Restaurants in a report on Tuesday, September 19th. Oppenheimer reissued a “buy” rating and issued a $100.00 price target on shares of Darden Restaurants in a report on Wednesday, September 20th. Zacks Investment Research raised Darden Restaurants from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a report on Friday, September 22nd. Maxim Group reissued a “hold” rating and issued a $90.00 price target on shares of Darden Restaurants in a report on Thursday, September 21st. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target (down previously from $96.00) on shares of Darden Restaurants in a report on Friday, September 22nd. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and ten have given a buy rating to the company. Darden Restaurants presently has a consensus rating of “Hold” and an average price target of $95.41.
A number of large investors have recently added to or reduced their stakes in the business. Oak Point Wealth Management bought a new position in Darden Restaurants during the 4th quarter worth approximately $510,000. Carlson Capital Management bought a new position in Darden Restaurants during the 4th quarter worth approximately $229,000. Hefty Wealth Partners bought a new position in Darden Restaurants during the 4th quarter worth approximately $1,029,000. Parametric Portfolio Associates LLC lifted its holdings in Darden Restaurants by 6.2% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 254,078 shares of the restaurant operator’s stock worth $20,016,000 after buying an additional 14,785 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its position in shares of Darden Restaurants by 381.9% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,522 shares of the restaurant operator’s stock worth $593,000 after purchasing an additional 5,961 shares during the period. 91.45% of the stock is currently owned by institutional investors.
Darden Restaurants Company Profile
Darden Restaurants, Inc is a full-service restaurant company. The Company owned and operated 1,536 restaurants through its subsidiaries in the United States and Canada, as of May 29, 2016. The Company’s segments include Olive Garden, LongHorn Steakhouse, Fine Dining (which includes The Capital Grille, and Eddie V’s Prime Seafood and Wildfish Seafood Grille (Eddie V’s)) and Other Business (which includes Yard House, Seasons 52, Bahama Breeze, consumer-packaged goods and franchise revenues).
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