Darden Restaurants SVP General Counsel Sells $749,824 in Stock Via Investing.com

In recent market activity, Matthew R. Broad, Senior Vice President and General Counsel of Darden Restaurants Inc. (NYSE: ), sold shares of company stock, totaling approximately $749,824. The transaction took place on September 23, with the sale of 4,360 shares at an average price of $171.978 per share.

This sale was made in several trades, with prices ranging from $171.88 to $172.10. The reported price reflects the weighted average sales price, according to SEC filing footnotes. Broad has undertaken to provide complete information regarding the specific number of shares and the prices at which the transactions were made upon request by the SEC staff, the issuer or the issuer’s security holder.

Following the sale, Broad’s remaining direct ownership of Darden Restaurants is 14,248,789 shares. This figure includes shares purchased through the Darden Restaurants, Inc. Employee Stock Purchase Plan. and the dividend reinvestment feature of the plan. It also notes that the reported total has been adjusted to correct an error in a previous Form 4 filed on July 31, 2024, which overstated total holdings by 5,471 shares.

The sale and subsequent adjustments to the holdings were duly recorded in accordance with SEC regulations, as evidenced by the signature of Anthony G. Morrow, attorney-in-fact for Broad, on September 25, 2024.

In other recent news, Darden Restaurants’ first-quarter fiscal 2025 earnings per share came in below expectations at $1.75. Despite this, the company saw a slight 1% increase in sales to $2.8 billion. Darden also announced the upcoming acquisition of Chuy’s, which is expected to have a neutral impact on earnings per share. In response to these recent developments, several firms have adjusted their price targets. KeyBanc Capital Markets, for example, raised its target to $194, citing potential benefits from a partnership with Uber (NYSE: ). Other firms, including BMO Capital, Raymond James and TD Cowen, also revised their targets to $175, $187 and $165, respectively. Additionally, Evercore ISI upgraded shares of Darden to “Outperform” and raised their target to $205. These adjustments reflect a number of expectations for Darden’s performance, influenced by the company’s strategic moves, such as the Uber partnership and the acquisition of Chuy.

InvestingPro Insights

Amid news of Matthew R. Broad’s stock sale in Darden Restaurants Inc. (NYSE:DRI), it’s worth noting a few key financial metrics that could influence investor sentiment and insider decisions. Darden Restaurants has demonstrated a strong track record of returning shareholder value, with the company increasing its dividend for 4 consecutive years. This indicates the company’s commitment to delivering consistent returns for shareholders, a factor that could provide some reassurance amid the insider selling.

Financially, Darden Restaurants boasts a market capitalization of $20.03 billion, reflecting its substantial presence in the industry. The company’s price-to-earnings (P/E) ratio is 19.39, which, adjusted for the trailing twelve months through Q1 2025, is slightly lower at 19.04. This suggests a stable earnings outlook as perceived by the market. Additionally, the company posted a revenue growth of 5.98% in the last twelve months from Q1 2025, signaling a positive trajectory in its business operations.

Investors should also be aware of the company’s recent performance, with a significant return in the last week of 7.52%. This could be a reflection of market confidence or a response to short-term events. For those interested in exploring more about the outlook and financial health of Darden Restaurants, there are additional InvestingPro Tips available that can provide deeper insight into potential investment strategies.

For more detailed analysis and additional advice on Darden Restaurants Inc., investors can visit https://www.investing.com/pro/DRI where there are 11 additional InvestingPro tips available to help guide investment decisions.

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.