Todd Burrowes, President of Business Development at Darden Restaurants Inc. (NYSE:DRI), executed multiple stock transactions on January 14, 2025. The company, currently trading near its 52-week high of $189.18, has shown strong market performance with a 29% gain over the past six months according to InvestingPro data. Burrowes sold a total of 15,783 shares of common stock, generating approximately $2.89 million. The shares were sold at prices ranging from $182.9489 to $183.8868.
The transactions also included the exercise of stock options to acquire 15,783 shares at $107.05 per share, valued at approximately $1.69 million. Following these transactions, Burrowes holds 46,287.519 shares directly.
In other recent news, Darden Restaurants has seen a series of price target increases from various analysts following its recent earnings report. The company's second quarter fiscal year 2025 earnings per share (EPS) of $2.03 surpassed consensus estimates, with revenue growing approximately 6% over the last twelve months to $11.4 billion. BMO Capital raised the company's target to $175, maintaining a neutral stance due to ongoing challenges in the restaurant industry.
Similarly, Stephens, Baird, and KeyBanc Capital Markets increased their price targets to $175, $194, and $200, respectively, all citing Darden's impressive performance. Oppenheimer also raised its price target to $200, maintaining an Outperform rating, highlighting improving sales trends especially for Olive Garden.
Darden, which now includes Chuy's in its portfolio, has confirmed its earnings guidance for fiscal year 2025. The company anticipates that comparable sales will align with the mid-point of its previous guidance range. Furthermore, Darden has maintained a strong dividend track record, paying dividends for 30 consecutive years with a current yield of 3.05%. These are the recent developments in Darden's financial journey.
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