Insider Selling: Darden Restaurants, Inc. (DRI) SVP Sells 4,300 Shares of Stock

Darden Restaurants, Inc. (NYSE:DRI) SVP Douglas J. Milanes sold 4,300 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $97.05, for a total transaction of $417,315.00. Following the transaction, the senior vice president now directly owns 7,513 shares of the company’s stock, valued at $729,136.65. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Darden Restaurants, Inc. (NYSE DRI) traded up $0.42 during trading on Friday, reaching $98.02. 1,076,331 shares of the company were exchanged, compared to its average volume of 1,725,388. Darden Restaurants, Inc. has a 1 year low of $71.43 and a 1 year high of $100.11. The firm has a market cap of $12,056.90, a PE ratio of 25.13, a P/E/G ratio of 1.89 and a beta of 0.20. The company has a quick ratio of 0.20, a current ratio of 0.34 and a debt-to-equity ratio of 0.47.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, January 9th. This represents a $2.52 dividend on an annualized basis and a yield of 2.57%. Darden Restaurants’s dividend payout ratio is currently 64.62%.

A number of institutional investors have recently added to or reduced their stakes in the stock. Oak Point Wealth Management acquired a new stake in Darden Restaurants in the 4th quarter valued at $510,000. Carlson Capital Management acquired a new stake in Darden Restaurants in the 4th quarter valued at $229,000. Hefty Wealth Partners acquired a new stake in Darden Restaurants in the 4th quarter valued at $1,029,000. Parametric Portfolio Associates LLC grew its stake in Darden Restaurants by 6.2% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 254,078 shares of the restaurant operator’s stock valued at $20,016,000 after acquiring an additional 14,785 shares during the period. Finally, Chicago Partners Investment Group LLC grew its stake in Darden Restaurants by 381.9% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 7,522 shares of the restaurant operator’s stock valued at $593,000 after acquiring an additional 5,961 shares during the period. 91.45% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have issued reports on DRI shares. Oppenheimer reissued a “buy” rating and set a $100.00 price target on shares of Darden Restaurants in a research report on Wednesday, September 20th. Zacks Investment Research raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and set a $94.00 price target for the company in a research report on Friday, September 22nd. Maxim Group raised shares of Darden Restaurants from a “hold” rating to a “buy” rating and raised their price target for the stock from $90.00 to $93.00 in a research report on Wednesday, September 27th. Canaccord Genuity reaffirmed a “buy” rating and set a $97.00 target price on shares of Darden Restaurants in a report on Wednesday, September 27th. Finally, Citigroup cut their target price on shares of Darden Restaurants from $105.00 to $90.00 and set a “buy” rating for the company in a report on Monday, October 2nd. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and ten have assigned a buy rating to the stock. Darden Restaurants has an average rating of “Hold” and an average price target of $95.32.

ILLEGAL ACTIVITY NOTICE: This piece was first published by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of United States & international copyright law. The correct version of this piece can be read at https://www.com-unik.info/2018/01/13/insider-selling-darden-restaurants-inc-dri-svp-sells-4300-shares-of-stock.html.

About Darden Restaurants

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).

Receive News & Ratings for Darden Restaurants Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Darden Restaurants and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit