Douglas J. Milanes Sells 5,705 Shares of Darden Restaurants, Inc. (NYSE:DRI) Stock

Darden Restaurants, Inc. (NYSE:DRI) SVP Douglas J. Milanes sold 5,705 shares of Darden Restaurants stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $172.04, for a total transaction of $981,488.20. Following the completion of the transaction, the senior vice president now directly owns 3,834 shares of the company’s stock, valued at $659,601.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Darden Restaurants Stock Down 0.1 %

NYSE DRI opened at $167.95 on Friday. Darden Restaurants, Inc. has a 12 month low of $133.36 and a 12 month high of $176.84. The company has a market capitalization of $20.30 billion, a P/E ratio of 19.71, a PEG ratio of 1.99 and a beta of 1.30. The company’s 50 day simple moving average is $152.92 and its 200 day simple moving average is $153.39. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.35 and a quick ratio of 0.22.

Darden Restaurants (NYSE:DRI) last posted its quarterly earnings results on Thursday, September 19th. The restaurant operator reported $1.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.83 by ($0.08). The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.80 billion. Darden Restaurants had a net margin of 9.11% and a return on equity of 49.46%. Darden Restaurants’s quarterly revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.78 EPS. Equities research analysts expect that Darden Restaurants, Inc. will post 9.48 earnings per share for the current fiscal year.

Darden Restaurants Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $1.40 dividend. The ex-dividend date is Thursday, October 10th. This represents a $5.60 dividend on an annualized basis and a yield of 3.33%. This is a boost from Darden Restaurants’s previous quarterly dividend of $1.29. Darden Restaurants’s dividend payout ratio (DPR) is currently 65.73%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DRI shares. Wells Fargo & Company lifted their target price on Darden Restaurants from $160.00 to $165.00 and gave the company an “equal weight” rating in a research note on Friday, September 20th. Barclays upped their price objective on Darden Restaurants from $180.00 to $192.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Wedbush boosted their price target on shares of Darden Restaurants from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, September 20th. BTIG Research upped their price target on shares of Darden Restaurants from $175.00 to $195.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, TD Cowen reiterated a “hold” rating and issued a $150.00 price objective on shares of Darden Restaurants in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $179.25.

Institutional Trading of Darden Restaurants

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rise Advisors LLC raised its holdings in shares of Darden Restaurants by 131.3% during the first quarter. Rise Advisors LLC now owns 155 shares of the restaurant operator’s stock valued at $26,000 after acquiring an additional 88 shares during the period. ESL Trust Services LLC purchased a new stake in shares of Darden Restaurants in the first quarter valued at $27,000. Meeder Asset Management Inc. acquired a new stake in shares of Darden Restaurants in the second quarter worth $27,000. Kimelman & Baird LLC purchased a new position in shares of Darden Restaurants during the second quarter valued at $30,000. Finally, Innealta Capital LLC acquired a new position in Darden Restaurants during the second quarter valued at $31,000. Institutional investors and hedge funds own 93.64% of the company’s stock.

Darden Restaurants Company Profile

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.