Insider Selling: Darden Restaurants, Inc. (DRI) Insider Sells 59,783 Shares of Stock

Darden Restaurants, Inc. (NYSE:DRI) insider Eugene I. Lee, Jr. sold 59,783 shares of the stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $96.80, for a total value of $5,786,994.40. Following the transaction, the insider now directly owns 164,396 shares of the company’s stock, valued at $15,913,532.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Darden Restaurants, Inc. (NYSE DRI) traded up $0.81 on Friday, hitting $97.60. The stock had a trading volume of 1,277,500 shares, compared to its average volume of 1,685,137. The company has a market cap of $12,160.00, a price-to-earnings ratio of 24.58, a PEG ratio of 2.11 and a beta of 0.20. 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 1-year low of $71.43 and a 1-year high of $100.11.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Tuesday, January 9th. Darden Restaurants’s dividend payout ratio is presently 63.48%.

A number of equities analysts have issued reports on DRI shares. Robert W. Baird reaffirmed a “hold” rating and set a $94.00 price target on shares of Darden Restaurants in a research note on Tuesday, September 19th. Oppenheimer reaffirmed a “buy” rating and set a $100.00 price target on shares of Darden Restaurants in a research note 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 research note on Friday, September 22nd. Maxim Group reaffirmed a “hold” rating and set a $90.00 price target on shares of Darden Restaurants in a research note on Thursday, September 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target (down from $96.00) on shares of Darden Restaurants in a research note on Friday, September 22nd. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $95.41.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DRI. Oak Point Wealth Management acquired a new stake in shares of Darden Restaurants in the fourth quarter worth $510,000. Carlson Capital Management acquired a new stake in shares of Darden Restaurants in the fourth quarter worth $229,000. Hefty Wealth Partners acquired a new stake in shares of Darden Restaurants in the fourth quarter worth $1,029,000. Parametric Portfolio Associates LLC boosted its position in shares of Darden Restaurants by 6.2% in the third 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 period. Finally, Chicago Partners Investment Group LLC boosted its position in shares of Darden Restaurants by 381.9% in the third quarter. Chicago Partners Investment Group LLC now owns 7,522 shares of the restaurant operator’s stock worth $593,000 after buying an additional 5,961 shares during the period. 91.45% of the stock is owned by institutional investors and hedge funds.

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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).

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